In yesterday’s Wall Street session, SL Green Realty Corp. (NYSE:SLG) shares traded at $30.22, down -1.08% from the previous session.
As of this writing, 17 analysts cover SL Green Realty Corp. (NYSE:SLG). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $70.00 and a low of $17.00, we find $27.00. Given the previous closing price of $30.55, this indicates a potential downside of -11.62 percent. SLG stock price is now 24.38% away from the 50-day moving average and -7.41% away from the 200-day moving average. The market capitalization of the company currently stands at $1.92B.
There are 8 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $30.60 as their price target over the next twelve months.
With the price target reduced from $84 to $70, BTIG Research maintained Buy rating for SL Green Realty Corp. (NYSE: SLG).
In other news, ATKINS BETSY S, Director sold 5,000 shares of the company’s stock on May 16. The stock was sold for $107,350 at an average price of $21.47. Upon completion of the transaction, the Director now directly owns 11,662 shares in the company, valued at $0.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 24, CHIEF FINANCIAL OFFICER DiLiberto Matthew J. bought 10,000 shares of the business’s stock. A total of $164,400 was incurred on buying the stock at an average price of $16.44. This leaves the insider owning 13,000 shares of the company worth $0.39 million. Insiders disposed of 16,100 shares of company stock worth roughly $0.49 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SLG stock. A new stake in SL Green Realty Corp. shares was purchased by ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $14,114,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $7,520,000 in shares of SLG during the first quarter. In the first quarter, WATERFRONT CAPITAL PARTNERS, LLC acquired a new stake in SL Green Realty Corp. valued at approximately $5,976,000. WALLEYE CAPITAL LLC acquired a new stake in SLG for approximately $5,359,000. NOMURA HOLDINGS INC purchased a new stake in SLG valued at around $5,169,000 in the second quarter. In total, there are 425 active investors with 85.80% ownership of the company’s stock.
Wednesday morning saw SL Green Realty Corp. (NYSE: SLG) opened at $30.26. During the past 12 months, SL Green Realty Corp. has had a low of $19.06 and a high of $51.69. The fifty day moving average price for SLG is $24.42 and a two-hundred day moving average price translates $32.56 for the stock.
The latest earnings results from SL Green Realty Corp. (NYSE: SLG) was released for Mar, 2023. According to the REIT – Office Company, earnings per share came in at -$0.63, missing analysts’ expectations of -$0.62 by -0.01. This compares to $0.11 EPS in the same period last year. The company reported revenue of $223.57 million for the quarter, compared to $187.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.95 percent. For the current quarter, analysts expect SLG to generate $205.97M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 06/30/2023 were paid a $0.2708 dividend. On an annualized basis, this represents a $3.25 dividend and a 10.75% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend.
SL Green Realty Corp.(SLG) Company Profile
SL Green Realty Corp., Manhattan’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, 2023, SL Green held interests in 60 buildings totaling 33.1 million square feet. This included ownership interests in 28.8 million square feet of Manhattan buildings and 3.4 million square feet securing debt and preferred equity investments.
