Brokerages Set SL Green Realty (SLG) Target Price at $113.17

Shares of SL Green Realty (NYSE:SLG) have been assigned an average rating of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $113.17.

A number of brokerages have recently issued reports on SLG. Jefferies Group reaffirmed a “hold” rating and issued a $100.00 target price on shares of SL Green Realty in a report on Thursday. Zacks Investment Research cut shares of SL Green Realty from a “buy” rating to a “hold” rating in a report on Friday, April 13th. SunTrust Banks cut shares of SL Green Realty from a “buy” rating to a “hold” rating and set a $108.00 target price on the stock. in a report on Friday, March 9th. Evercore ISI cut shares of SL Green Realty from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $115.00 target price on shares of SL Green Realty in a report on Tuesday, February 27th.

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In related news, CEO Marc Holliday purchased 7,880 shares of the stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $25.20 per share, with a total value of $198,576.00. Following the acquisition, the chief executive officer now directly owns 88,900 shares in the company, valued at $2,240,280. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Craig M. Hatkoff sold 3,400 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total transaction of $318,682.00. Following the transaction, the director now owns 1,365 shares in the company, valued at approximately $127,941.45. The disclosure for this sale can be found here. 3.09% of the stock is owned by corporate insiders.



Several large investors have recently made changes to their positions in SLG. Tower Research Capital LLC TRC acquired a new position in shares of SL Green Realty during the 4th quarter worth approximately $133,000. Kemper Corp Master Retirement Trust acquired a new position in shares of SL Green Realty during the 4th quarter worth approximately $204,000. American Investment Services Inc. acquired a new position in shares of SL Green Realty during the 4th quarter worth approximately $240,000. Cubist Systematic Strategies LLC acquired a new position in shares of SL Green Realty during the 3rd quarter worth approximately $270,000. Finally, Everence Capital Management Inc. acquired a new position in shares of SL Green Realty during the 4th quarter worth approximately $281,000.

Shares of SLG stock opened at $96.00 on Thursday. The company has a current ratio of 2.72, a quick ratio of 0.11 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $8,766.25, a PE ratio of 14.88, a PEG ratio of 2.39 and a beta of 1.06. SL Green Realty has a 52-week low of $89.46 and a 52-week high of $109.00.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, April 18th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($1.10). The firm had revenue of $301.70 million during the quarter, compared to the consensus estimate of $295.93 million. SL Green Realty had a net margin of 13.36% and a return on equity of 2.72%. The firm’s revenue for the quarter was down 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 earnings per share. equities analysts forecast that SL Green Realty will post 6.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Monday, April 2nd were issued a $0.8125 dividend. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $3.25 annualized dividend and a yield of 3.39%. SL Green Realty’s dividend payout ratio is currently 50.39%.

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SL Green Realty Company Profile

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 December 31, 2017, SL Green held interests in 121 Manhattan buildings totaling 50.0 million square feet.

Analyst Recommendations for SL Green Realty (NYSE:SLG)

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