SL Green Realty (SLG) Downgraded by ValuEngine to “Sell”

Share on StockTwits

ValuEngine lowered shares of SL Green Realty (NYSE:SLG) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Other analysts have also recently issued reports about the stock. SunTrust Banks upgraded shares of SL Green Realty from a hold rating to a buy rating and set a $86.79 target price on the stock in a research note on Tuesday, January 15th. Stifel Nicolaus reiterated a buy rating and issued a $90.00 target price on shares of SL Green Realty in a research note on Monday, January 7th. KeyCorp set a $100.00 target price on shares of SL Green Realty and gave the stock a buy rating in a research note on Thursday, December 20th. Deutsche Bank reiterated a buy rating and issued a $110.00 target price (down from $115.00) on shares of SL Green Realty in a research note on Wednesday, April 10th. Finally, Wells Fargo & Co set a $94.00 target price on shares of SL Green Realty and gave the stock a market perform rating in a research note on Wednesday, January 16th. Four analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. SL Green Realty currently has an average rating of Hold and an average target price of $98.78.

NYSE SLG opened at $87.05 on Tuesday. SL Green Realty has a 1 year low of $76.77 and a 1 year high of $106.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.82 and a beta of 1.31.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.04). SL Green Realty had a return on equity of 3.82% and a net margin of 20.15%. The firm had revenue of $304.30 million during the quarter, compared to analysts’ expectations of $244.08 million. During the same quarter in the prior year, the company earned $1.66 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts forecast that SL Green Realty will post 6.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, March 28th. SL Green Realty’s payout ratio is 51.36%.

In other news, CFO Matthew J. Diliberto sold 2,084 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $91.66, for a total value of $191,019.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig M. Hatkoff sold 2,500 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $92.24, for a total transaction of $230,600.00. Following the completion of the transaction, the director now directly owns 2,352 shares in the company, valued at approximately $216,948.48. The disclosure for this sale can be found here. 3.65% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. CSat Investment Advisory L.P. grew its holdings in shares of SL Green Realty by 55.1% during the 4th quarter. CSat Investment Advisory L.P. now owns 363 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 129 shares during the last quarter. Exane Asset Management bought a new position in shares of SL Green Realty during the 4th quarter valued at $118,000. Enlightenment Research LLC bought a new position in shares of SL Green Realty during the 4th quarter valued at $134,000. Point72 Hong Kong Ltd grew its holdings in shares of SL Green Realty by 324.3% during the 3rd quarter. Point72 Hong Kong Ltd now owns 1,939 shares of the real estate investment trust’s stock valued at $189,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Advisors Capital Management LLC bought a new position in shares of SL Green Realty during the 4th quarter valued at $212,000. 98.83% of the stock is currently owned by hedge funds and other institutional investors.

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 December 31, 2018, SL Green held interests in 101 Manhattan buildings totaling 46.0 million square feet.

Featured Article: Benefits of owning preferred stock

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SL Green Realty (NYSE:SLG)

Receive News & Ratings for SL Green Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty and related companies with MarketBeat.com's FREE daily email newsletter.