Jefferies Group Lowers SL Green Realty Corp. Price Target to $96.00 (SLG)
Investment analysts at Jefferies Group dropped their price target on shares of SL Green Realty Corp. (NYSE:SLG) from $98.00 to $96.00 in a note issued to investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective would indicate a potential upside of 2.98% from the stock’s previous close.
SL Green Realty Corp. (NYSE:SLG) traded up 3.06% during mid-day trading on Wednesday, hitting $93.22. The stock had a trading volume of 683,245 shares. SL Green Realty Corp. has a 52-week low of $70.73 and a 52-week high of $95.83. The stock has a 50-day moving average of $88.60 and a 200-day moving average of $88.75. The company has a market cap of $8.574 billion and a price-to-earnings ratio of 150.00.
SL Green Realty Corp. (NYSE:SLG) last released its earnings data on Thursday, July 25th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. The company had revenue of $365.15 million for the quarter, compared to the consensus estimate of $288.45 million. During the same quarter last year, the company posted $1.94 earnings per share. SL Green Realty Corp.’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that SL Green Realty Corp. will post $5.01 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SLG. Analysts at Cowen and Company downgraded shares of SL Green Realty Corp. (NYSE:SLG) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, September 12th. They now have a $87.00 price target on the stock, down previously from $105.00. Separately, analysts at TheStreet downgraded shares of SL Green Realty Corp. (NYSE:SLG) to a “hold” rating in a research note to investors on Monday, August 19th. Finally, analysts at ISI Group upgraded shares of SL Green Realty Corp. (NYSE:SLG) from a “cautious” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th.
Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. SL Green Realty Corp. presently has a consensus rating of “Hold” and a consensus price target of $92.69.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, September 26th.
SL Green Realty Corp., incorporated on June, 10, 1997, is a self-managed real estate investment trust (NYSE:SLG), with in-house capabilities in property management, acquisitions, financing, development, construction and leasing.
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