SL Green Realty Corporation (NYSE:SLG) Given Consensus Recommendation of “Hold” by Analysts

Shares of SL Green Realty Corporation (NYSE:SLG) have received a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $51.20.

Several analysts recently issued reports on the company. Raymond James Financial set a $44.00 target price on SL Green Realty in a research note on Tuesday, February 3rd. Morgan Stanley cut their target price on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Truist Financial raised their target price on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Barclays cut their target price on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and cut their target price for the stock from $45.00 to $44.00 in a research note on Wednesday, March 18th.

SL Green Realty Stock Down 0.0%

NYSE SLG opened at $45.34 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. The stock has a market capitalization of $3.23 billion, a PE ratio of -18.06 and a beta of 1.60. SL Green Realty has a 1 year low of $34.77 and a 1 year high of $66.91. The business’s 50-day moving average is $41.13 and its 200 day moving average is $42.87.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.6175 per share. This represents a $2.47 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, March 31st. SL Green Realty’s payout ratio is presently -98.41%.

Institutional Trading of SL Green Realty

Several large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its position in SL Green Realty by 3.8% during the 1st quarter. Glenmede Trust Co. NA now owns 17,370 shares of the real estate investment trust’s stock valued at $642,000 after acquiring an additional 639 shares in the last quarter. Bank of America Corp DE boosted its position in SL Green Realty by 226.6% during the 1st quarter. Bank of America Corp DE now owns 744,053 shares of the real estate investment trust’s stock valued at $27,485,000 after acquiring an additional 516,242 shares in the last quarter. Amundi boosted its position in SL Green Realty by 8.2% during the 1st quarter. Amundi now owns 51,784 shares of the real estate investment trust’s stock valued at $1,913,000 after acquiring an additional 3,932 shares in the last quarter. Adelante Capital Management LLC boosted its position in SL Green Realty by 8.4% during the 1st quarter. Adelante Capital Management LLC now owns 104,960 shares of the real estate investment trust’s stock valued at $3,877,000 after acquiring an additional 8,135 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in SL Green Realty by 24.7% during the 1st quarter. California State Teachers Retirement System now owns 83,892 shares of the real estate investment trust’s stock valued at $3,099,000 after acquiring an additional 16,630 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

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.