SL Green Realty Corp Price Target Increased to $102.50 by Analysts at Cowen and Company (SLG)
Equities researchers at Cowen and Company boosted their price objective on shares of SL Green Realty Corp (NYSE:SLG) to $102.50 in a research report issued on Thursday. Cowen and Company’s price objective would suggest a potential downside of 6.61% from the stock’s previous close.
Shares of SL Green Realty Corp (NYSE:SLG) traded up 1.05% during mid-day trading on Thursday, hitting $109.75. 893,136 shares of the company’s stock traded hands. SL Green Realty Corp has a 1-year low of $84.89 and a 1-year high of $112.94. The stock’s 50-day moving average is $109. and its 200-day moving average is $101.. The company has a market cap of $10.474 billion and a P/E ratio of 44.40.
SL Green Realty Corp (NYSE:SLG) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.54 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.37 by $0.17. The company had revenue of $381.10 million for the quarter, compared to the consensus estimate of $285.13 million. During the same quarter in the prior year, the company posted $1.16 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Analysts expect that SL Green Realty Corp will post $5.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, June 26th.
A number of other firms have also recently commented on SLG. Analysts at Barclays raised their price target on shares of SL Green Realty Corp from $108.00 to $109.00 in a research note on Friday, May 2nd. They now have an “equal weight” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of SL Green Realty Corp from $100.00 to $107.00 in a research note on Monday, April 21st. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $102.93.
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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