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

SL Green Realty Corporation (NYSE:SLG) has been assigned a consensus rating of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $50.90.

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Morgan Stanley decreased their price objective on shares of SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings raised shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft raised shares of SL Green Realty from a “hold” rating to a “buy” rating and decreased their price objective for the company from $45.00 to $44.00 in a research report on Wednesday, March 18th. Finally, Citigroup decreased their price objective on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in SL Green Realty by 1.0% in the 2nd quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock worth $264,636,000 after buying an additional 41,873 shares during the period. Alyeska Investment Group L.P. increased its holdings in SL Green Realty by 25.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock worth $139,501,000 after buying an additional 617,488 shares during the period. Goldman Sachs Group Inc. increased its holdings in SL Green Realty by 62.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock worth $133,862,000 after buying an additional 1,117,357 shares during the period. Cohen & Steers Inc. acquired a new position in SL Green Realty in the 4th quarter worth approximately $121,675,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in SL Green Realty by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,561,121 shares of the real estate investment trust’s stock worth $71,609,000 after buying an additional 32,779 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $49.58 on Thursday. The firm has a market capitalization of $3.54 billion, a P/E ratio of -19.75 and a beta of 1.61. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average price of $45.37 and a 200 day moving average price of $43.17. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $66.29.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 30th. SL Green Realty’s dividend payout ratio (DPR) is presently -98.41%.

About SL Green Realty

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.