SL Green Realty (NYSE:SLG) Given New $96.00 Price Target at Deutsche Bank

SL Green Realty (NYSE:SLG) had its price objective lowered by Deutsche Bank from $106.00 to $96.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Deutsche Bank currently has a buy rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the stock. Scotiabank cut shares of SL Green Realty from an outperform rating to a sector perform rating and lowered their target price for the company from $96.00 to $84.00 in a research note on Friday, August 16th. Citigroup lowered their target price on shares of SL Green Realty from $105.00 to $100.00 and set a buy rating on the stock in a research note on Friday, September 6th. Robert W. Baird set a $92.00 target price on shares of SL Green Realty and gave the company a hold rating in a research note on Wednesday, August 21st. Morgan Stanley lowered their target price on shares of SL Green Realty from $84.50 to $78.00 and set an underweight rating on the stock in a research note on Tuesday, September 10th. Finally, ValuEngine cut shares of SL Green Realty from a hold rating to a sell rating in a research note on Tuesday, June 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. SL Green Realty presently has an average rating of Hold and an average target price of $91.76.

Shares of SLG stock traded up $1.11 during trading hours on Thursday, reaching $80.39. The stock had a trading volume of 162,974 shares, compared to its average volume of 780,928. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.91 and a quick ratio of 1.91. SL Green Realty has a twelve month low of $75.46 and a twelve month high of $97.59. The firm has a 50-day simple moving average of $80.35 and a 200-day simple moving average of $83.81. The firm has a market capitalization of $6.57 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 3.33 and a beta of 1.09.



SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $1.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.21. SL Green Realty had a net margin of 19.88% and a return on equity of 3.99%. The business had revenue of $244.96 million for the quarter, compared to analysts’ expectations of $241.61 million. During the same quarter last year, the company earned $1.69 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that SL Green Realty will post 6.92 earnings per share for the current year.

The firm also recently disclosed a — dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a dividend yield of 4.2%. SL Green Realty’s dividend payout ratio is currently 51.36%.

In other news, Director Edwin T. Burton III sold 7,000 shares of SL Green Realty stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $81.00, for a total value of $567,000.00. Following the transaction, the director now owns 292 shares of the company’s stock, valued at approximately $23,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.99% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in shares of SL Green Realty by 10.5% in the third quarter. Pacer Advisors Inc. now owns 8,820 shares of the real estate investment trust’s stock worth $721,000 after buying an additional 835 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of SL Green Realty by 8.2% in the third quarter. State of Alaska Department of Revenue now owns 63,706 shares of the real estate investment trust’s stock worth $5,207,000 after buying an additional 4,844 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of SL Green Realty by 4.8% in the second quarter. Macquarie Group Ltd. now owns 40,803 shares of the real estate investment trust’s stock worth $3,279,000 after buying an additional 1,868 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of SL Green Realty by 3.6% in the second quarter. Treasurer of the State of North Carolina now owns 42,656 shares of the real estate investment trust’s stock worth $3,428,000 after buying an additional 1,470 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of SL Green Realty by 9.3% in the second quarter. Mackenzie Financial Corp now owns 13,414 shares of the real estate investment trust’s stock worth $1,078,000 after buying an additional 1,139 shares during the period. Institutional investors own 99.37% of the company’s stock.

About SL Green Realty

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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