Shares of SL Green Realty Corp (NYSE:SLG) were up 6.3% on Monday . The company traded as high as $47.87 and last traded at $47.57. Approximately 1,610,310 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 1,491,503 shares. The stock had previously closed at $44.75.
A number of equities research analysts have weighed in on SLG shares. SunTrust Banks reduced their target price on SL Green Realty from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Deutsche Bank downgraded SL Green Realty from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a report on Monday, July 20th. Morgan Stanley raised their price objective on SL Green Realty from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. ValuEngine downgraded SL Green Realty from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, BTIG Research reissued a “market perform” rating and set a $105.00 price objective on shares of SL Green Realty in a report on Sunday, June 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. SL Green Realty presently has an average rating of “Hold” and a consensus price target of $65.83.
The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 4.85 and a beta of 1.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 6.70 and a current ratio of 6.70. The business has a 50 day simple moving average of $47.69 and a 200-day simple moving average of $50.72.
SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($1.63). The business had revenue of $174.14 million during the quarter, compared to analysts’ expectations of $184.26 million. SL Green Realty had a return on equity of 4.21% and a net margin of 19.90%. As a group, research analysts anticipate that SL Green Realty Corp will post 6.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.295 per share. The ex-dividend date was Friday, August 28th. This represents a $1.18 annualized dividend and a dividend yield of 2.29%. SL Green Realty’s payout ratio is 50.57%.
Several hedge funds have recently made changes to their positions in SLG. Aperio Group LLC lifted its position in shares of SL Green Realty by 164.9% in the 1st quarter. Aperio Group LLC now owns 56,094 shares of the real estate investment trust’s stock worth $2,418,000 after purchasing an additional 34,916 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in SL Green Realty by 118.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 35,703 shares of the real estate investment trust’s stock worth $1,773,000 after buying an additional 19,347 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in SL Green Realty by 29.7% during the second quarter. Russell Investments Group Ltd. now owns 73,420 shares of the real estate investment trust’s stock valued at $3,617,000 after purchasing an additional 16,803 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in SL Green Realty by 1.8% during the first quarter. Alliancebernstein L.P. now owns 173,742 shares of the real estate investment trust’s stock valued at $7,488,000 after purchasing an additional 3,061 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in SL Green Realty by 14.6% during the first quarter. The Manufacturers Life Insurance Company now owns 87,613 shares of the real estate investment trust’s stock valued at $3,776,000 after purchasing an additional 11,136 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company’s stock.
About SL Green Realty (NYSE:SLG)
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.
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