SL Green Realty (NYSE:SLG) Raised to “Sell” at Wall Street Zen

by · The Markets Daily

SL Green Realty (NYSE:SLG – Get Free Report) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday.

SLG has been the subject of a number of other research reports. Evercore cut SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price for the company. in a report on Monday, July 6th. Wells Fargo & Company lifted their price target on SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Piper Sandler set a $79.00 price target on SL Green Realty and gave the stock an “overweight” rating in a research report on Friday. Citigroup reissued a “buy” rating and issued a $60.00 price objective (up from $45.00) on shares of SL Green Realty in a research note on Friday. Finally, Scotiabank reissued an “outperform” rating and issued a $56.00 price objective (up from $53.00) on shares of SL Green Realty in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.75.

Read Our Latest Stock Analysis on SL Green Realty

SL Green Realty Stock Up 0.0%

Shares of NYSE SLG opened at $54.62 on Friday. The company’s 50-day simple moving average is $48.91 and its 200-day simple moving average is $44.12. SL Green Realty has a 52-week low of $34.77 and a 52-week high of $66.29. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -20.01 and a beta of 1.58. The company has a quick ratio of 3.03, a current ratio of 3.10 and a debt-to-equity ratio of 1.12.

SL Green Realty (NYSE:SLG – Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The business had revenue of $171.85 million during the quarter, compared to analysts’ expectations of $179.01 million. During the same quarter in the previous year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. Equities analysts predict that SL Green Realty will post 4.53 EPS for the current fiscal year.

Institutional Trading of SL Green Realty

A number of hedge funds and other institutional investors have recently modified their holdings of SLG. State Street Corp raised its holdings in shares of SL Green Realty by 1.0% during the 2nd quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock worth $264,636,000 after acquiring an additional 41,873 shares during the period. Alyeska Investment Group L.P. increased its position in SL Green Realty by 25.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock worth $139,501,000 after purchasing an additional 617,488 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in SL Green Realty by 62.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock worth $133,862,000 after purchasing an additional 1,117,357 shares during the period. Cohen & Steers Inc. purchased a new position in SL Green Realty during the fourth quarter worth about $121,675,000. Finally, Charles Schwab Investment Management Inc. raised its stake in SL Green Realty by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,561,121 shares of the real estate investment trust’s stock worth $71,609,000 after purchasing an additional 32,779 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

About SL Green Realty

(Get Free Report)

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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