SL Green Realty Corp. Is Forecast To Drop -102.14% To Hit Consensus Price Target

In the last trading session, 1.1 million SL Green Realty Corp. (NYSE:SLG) shares changed hands as the company’s beta touched 1.63. With the company’s per share price at $34.63 changed hands at $0.42 or 1.23% during last session, the market valuation stood at $2.37B. SLG’s last price was a discount, traded about -28.93% off its 52-week high of $44.65. The share price had its 52-week low at $19.06, which suggests the last value was 44.96% up since then. When we look at SL Green Realty Corp.’s average trading volume, we note the 10-day average is 1.67 million shares, with the 3-month average coming to 1.81 million.

Analysts gave the SL Green Realty Corp. (SLG) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.35. If we narrow down to specifics, the data shows that 6 out of 17 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 8 recommended SLG as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. SL Green Realty Corp.’s EPS for the current quarter is expected to be $Schlumberger N.V..

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SL Green Realty Corp. (NYSE:SLG) trade information

Instantly SLG was in green as seen at the end of in last trading. With action 16.95%, the performance over the past five days has been green. The jump to weekly highs of 36.58 on Monday, 11/20/23 added 1.23% to the stock’s daily price. The company’s shares are showing year-to-date upside of 2.70%, with the 5-day performance at 16.95% in the green. However, in the 30-day time frame, SL Green Realty Corp. (NYSE:SLG) is 7.55% up. Looking at the short shares, we see there were 18.07 million shares sold at short interest cover period of 10.2 days.

The consensus price target for the stock as assigned by Wall Street analysts is $33.25, meaning bulls need a downside of -4.15% from its current market value. According to analyst projections, SLG’s forecast low is $21.00 with $70.00 as the target high. To hit the forecast high, the stock’s price needs a -102.14% plunge from its current level, while the stock would need to tank 39.36% for it to hit the projected low.

SL Green Realty Corp. (SLG) estimates and forecasts

Data shows that the SL Green Realty Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 48.24% over the past 6 months, a -20.18% in annual growth rate that is considerably lower than the industry average of -6.10%.

The 2023 estimates are for SL Green Realty Corp. earnings to decrease by -349.86%, but the outlook for the next 5-year period is at -10.84% per year.

SLG Dividends

SL Green Realty Corp. is expected to release its next quarterly earnings report between January 23 and January 29. The 9.38% annual yield figure for the share gives it an annual dividend of 3.25. It is important to note, however, that the 9.38% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

SL Green Realty Corp. (NYSE:SLG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.40% of SL Green Realty Corp. shares while 88.30% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.66%. There are 88.30% institutions holding the SL Green Realty Corp. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 17.96% of the shares, roughly 11.56 million SLG shares worth $347.42 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 15.93% or 10.26 million shares worth $308.23 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Specialized-Real Estate Index Fund. With 4.32 million shares estimated at $160.98 million under it, the former controlled 6.70% of total outstanding shares. On the other hand, Vanguard Specialized-Real Estate Index Fund held about 4.21% of the shares, roughly 2.71 million shares worth around $102.32 million.

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