SL Green Realty (SLG) Now Covered by Analysts at Scotiabank

Scotiabank initiated coverage on shares of SL Green Realty (NYSE:SLG) in a research note released on Tuesday morning, The Fly reports. The brokerage issued an outperform rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on SLG. ValuEngine raised shares of SL Green Realty from a sell rating to a hold rating in a report on Tuesday, July 31st. BMO Capital Markets reaffirmed a $100.62 rating and issued a $115.00 price target on shares of SL Green Realty in a report on Wednesday, July 18th. Citigroup decreased their price target on shares of SL Green Realty from $118.00 to $116.00 and set a buy rating on the stock in a report on Tuesday, July 24th. JPMorgan Chase & Co. cut shares of SL Green Realty from an overweight rating to a neutral rating in a report on Friday, October 5th. Finally, TheStreet raised shares of SL Green Realty from a c+ rating to a b- rating in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $110.54.

SL Green Realty stock opened at $92.59 on Tuesday. The firm has a market capitalization of $7.98 billion, a PE ratio of 14.36, a PEG ratio of 2.89 and a beta of 1.09. SL Green Realty has a fifty-two week low of $89.46 and a fifty-two week high of $106.54. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.91.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 17th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.66). The firm had revenue of $250.87 million during the quarter, compared to the consensus estimate of $242.18 million. SL Green Realty had a return on equity of 5.01% and a net margin of 26.46%. The company’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 EPS. As a group, sell-side analysts anticipate that SL Green Realty will post 6.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.8125 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.25 dividend on an annualized basis and a yield of 3.51%. SL Green Realty’s dividend payout ratio is presently 50.39%.

In related news, President Andrew W. Mathias sold 65,000 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $105.34, for a total value of $6,847,100.00. Following the transaction, the president now owns 277,720 shares of the company’s stock, valued at $29,255,024.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John S. Levy sold 1,000 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $103.58, for a total value of $103,580.00. Following the completion of the transaction, the director now directly owns 14,827 shares in the company, valued at approximately $1,535,780.66. The disclosure for this sale can be found here. 3.65% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new position in shares of SL Green Realty during the second quarter valued at about $104,000. Mount Yale Investment Advisors LLC bought a new position in shares of SL Green Realty during the second quarter valued at about $143,000. Lenox Wealth Advisors LLC bought a new position in shares of SL Green Realty during the second quarter valued at about $166,000. Fulton Bank N.A. bought a new position in shares of SL Green Realty during the second quarter valued at about $204,000. Finally, ING Groep NV bought a new position in shares of SL Green Realty during the second quarter valued at about $218,000.

About SL Green Realty

SL Green Realty Corp. is a real estate investment trust, which engages in property management, acquisitions and dispositions, financing, development and redevelopment, construction, and leasing. It operates through the Real Estate, and Debt and Preferred Equity Investments segments. The Real Estate segment consists of security, maintenance, utility costs, real estate taxes and, at certain properties, ground rent expense.

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The Fly

Analyst Recommendations for SL Green Realty (NYSE:SLG)

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