SL Green Realty (SLG) Receives Hold Rating from Jefferies Group

Jefferies Group reissued their hold rating on shares of SL Green Realty (NYSE:SLG) in a research note published on Thursday. The brokerage currently has a $100.00 target price on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets reissued a buy rating and issued a $120.00 price objective on shares of SL Green Realty in a report on Tuesday, January 9th. Zacks Investment Research lowered shares of SL Green Realty from a buy rating to a hold rating in a report on Friday, April 13th. ValuEngine lowered shares of SL Green Realty from a buy rating to a hold rating in a research note on Friday, February 2nd. SunTrust Banks lowered shares of SL Green Realty from a buy rating to a hold rating and set a $108.00 target price for the company. in a research note on Friday, March 9th. Finally, Stifel Nicolaus raised shares of SL Green Realty from a hold rating to a buy rating and increased their target price for the stock from $105.00 to $111.00 in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $112.69.

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Shares of SLG traded down $1.48 during mid-day trading on Thursday, reaching $95.57. The stock had a trading volume of 155,206 shares, compared to its average volume of 975,884. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.45. SL Green Realty has a 52-week low of $89.46 and a 52-week high of $109.00. The firm has a market capitalization of $8,717.47, a P/E ratio of 14.78, a P/E/G ratio of 2.38 and a beta of 1.06.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data 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). SL Green Realty had a net margin of 13.36% and a return on equity of 2.69%. The firm had revenue of $301.70 million during the quarter, compared to analysts’ expectations of $295.93 million. During the same period in the prior year, the company posted $1.57 EPS. The company’s revenue for the quarter was down 20.1% compared to the same quarter last year. equities research analysts predict that SL Green Realty will post 6.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Monday, April 2nd were paid a dividend of $0.8125 per share. This represents a $3.25 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, March 29th. SL Green Realty’s dividend payout ratio (DPR) is presently 50.39%.

In other news, Director Craig M. Hatkoff sold 3,400 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $93.73, for a total transaction of $318,682.00. Following the sale, the director now owns 1,365 shares of the company’s stock, valued at $127,941.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Holliday purchased 7,880 shares of SL Green Realty stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $25.20 per share, for a total transaction of $198,576.00. Following the transaction, the chief executive officer now directly owns 88,900 shares of the company’s stock, valued at approximately $2,240,280. The disclosure for this purchase can be found here. Company insiders own 3.09% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Elkfork Partners LLC acquired a new stake in shares of SL Green Realty during the fourth quarter worth about $495,000. Xact Kapitalforvaltning AB raised its holdings in SL Green Realty by 5.0% in the fourth quarter. Xact Kapitalforvaltning AB now owns 21,619 shares of the real estate investment trust’s stock valued at $2,182,000 after acquiring an additional 1,020 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in SL Green Realty in the fourth quarter valued at approximately $3,069,000. Macquarie Group Ltd. raised its holdings in SL Green Realty by 4.3% in the fourth quarter. Macquarie Group Ltd. now owns 171,881 shares of the real estate investment trust’s stock valued at $14,766,000 after acquiring an additional 7,031 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in SL Green Realty in the fourth quarter valued at approximately $1,487,000.

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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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