SL Green Realty Corporation (NYSE:SLG) Receives Consensus Rating of “Hold” from Analysts

SL Green Realty Corporation (NYSE:SLG) has been given a consensus rating of “Hold” by the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $55.9444.

Several research firms have recently issued reports on SLG. Evercore ISI set a $54.00 price target on shares of SL Green Realty and gave the company an “outperform” rating in a research report on Monday, December 8th. LADENBURG THALM/SH SH lowered their target price on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, December 18th. The Goldman Sachs Group restated a “sell” rating and set a $42.00 target price (down previously from $48.00) on shares of SL Green Realty in a research report on Tuesday, December 23rd. Piper Sandler cut their price target on SL Green Realty from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, January 5th. Finally, Barclays set a $54.00 price objective on SL Green Realty in a research note on Tuesday, January 13th.

SL Green Realty Trading Down 1.2%

Shares of SL Green Realty stock opened at $45.94 on Monday. The stock has a market capitalization of $3.28 billion, a P/E ratio of 4,599.00 and a beta of 1.60. SL Green Realty has a 52-week low of $40.26 and a 52-week high of $68.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.22 and a current ratio of 3.22. The stock’s 50-day simple moving average is $46.00 and its 200 day simple moving average is $53.10.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $0.2575 per share. The ex-dividend date was Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 6.7%. SL Green Realty’s dividend payout ratio is currently 30,900.00%.

Insider Buying and Selling

In other SL Green Realty news, CEO Marc Holliday sold 22,223 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the sale, the chief executive officer directly owned 9,698 shares in the company, valued at $430,591.20. This represents a 69.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew S. Levine sold 1,493 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total transaction of $67,588.11. Following the completion of the sale, the insider owned 7,045 shares in the company, valued at $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLG. AQR Capital Management LLC raised its position in shares of SL Green Realty by 74.8% in the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock worth $1,519,000 after buying an additional 11,506 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of SL Green Realty in the 1st quarter valued at about $253,000. Empowered Funds LLC raised its holdings in shares of SL Green Realty by 10.9% in the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock valued at $425,000 after acquiring an additional 722 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of SL Green Realty during the 2nd quarter valued at about $225,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of SL Green Realty by 2.6% during the second quarter. Public Employees Retirement System of Ohio now owns 102,589 shares of the real estate investment trust’s stock worth $6,350,000 after purchasing an additional 2,586 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.