SL Green Realty Corp. (SLG)
Is it Wise to Retain SL Green (SLG) Stock in Your Portfolio?
SL Green (SLG) is likely to benefit from healthy demand for premier office properties and a solid tenant base despite an elevated supply of office spaces and high interest rates.
SL Green Preferreds: Office Markets Rationalizing With Redevelopments In NYC
The preferreds are clearly discounted from liquidation value due to the pretty evident risks of the preferred income. SL Green Realty Corp. preferred shares and common present real capital impairment risk. It's not really sustainable given office trends unless in the broader markets the redevelopment effort for residential takes hold, and that SL Green Realty's developments add lots of income. We think there is a relevant proportion of NYC office real estate that will attract redevelopment effort. But not all properties are valid targets due to the very high costs.
SL Green to start deploying $1 billion arsenal for New York real estate this year
Landlord giant SL Green Realty Corp. expects to raise more than its initial $1 billion target for a new war chest aimed at distressed New York commercial real estate, and plans to begin deploying it this year.
SL Green (SLG) Stock Rises 18.4% Year to Date: Here's How
SL Green (SLG) is likely to benefit from healthy demand for premier office properties and a solid tenant base despite an elevated supply of office spaces and high interest rates.
Is It Wise to Retain SL Green (SLG) Stock in Your Portfolio?
Healthy demand for premier office properties and a solid tenant base bode well for SL Green (SLG). However, an elevated supply of office spaces and high interest rates are concerning.
Beacon Pointe Advisors LLC Has $1.72 Million Stock Holdings in SL Green Realty Corp. (NYSE:SLG)
Beacon Pointe Advisors LLC lowered its stake in SL Green Realty Corp. (NYSE:SLG – Free Report) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,068 shares of the real estate investment trust’s stock after selling 10,364 shares during the period. Beacon Pointe Advisors LLC owned 0.06% of SL Green Realty worth $1,720,000 at the end of the most recent quarter. Several other institutional investors also recently modified their holdings of the stock. Phocas Financial Corp. bought a new stake in SL Green Realty during the 4th quarter worth $3,425,000. Jump Financial LLC acquired a new stake in SL Green Realty during the 4th quarter worth approximately $2,808,000. Wellington Management Group LLP bought a new stake in SL Green Realty during the 3rd quarter worth approximately $38,666,000. Cyndeo Wealth Partners LLC acquired a new position in SL Green Realty in the 4th quarter valued at approximately $4,593,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of SL Green Realty during the fourth quarter worth $491,000. 89.96% of the stock is currently owned by institutional investors and hedge funds. SL Green Realty Stock Down 0.3 % Shares of NYSE SLG opened at $52.99 on Monday. The stock’s 50-day simple moving average is $51.82 and its two-hundred day simple moving average is $46.02. SL Green Realty Corp. has a twelve month low of $21.09 and a twelve month high of $57.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.96 and a current ratio of 2.96. SL Green Realty Cuts Dividend The business also recently announced a monthly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend was Monday, April 29th. SL Green Realty’s dividend payout ratio is currently -36.32%. Analyst Ratings Changes A number of equities analysts have recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $58.00 price objective on shares of SL Green Realty in a research report on Tuesday, March 26th. BMO Capital Markets upgraded SL Green Realty from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $56.00 to $58.00 in a report on Thursday, April 18th. Evercore ISI raised their target price on SL Green Realty from $46.00 to $47.00 and gave the company an “underperform” rating in a research note on Monday, April 22nd. Scotiabank raised their price target on shares of SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded SL Green Realty to a “sell” rating in a report on Wednesday, May 8th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.00. Check Out Our Latest Stock Report on SL Green Realty SL Green Realty Company Profile (Free Report) 3SL 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 June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.
