SL Green Realty (NYSE:SLG) Price Target Raised to $78.00

by · The Markets Daily

SL Green Realty (NYSE:SLG – Get Free Report) had its price target hoisted by investment analysts at Barclays from $66.00 to $78.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective points to a potential upside of 1.46% from the stock’s current price.

A number of other equities research analysts also recently issued reports on SLG. The Goldman Sachs Group increased their price target on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Truist Financial boosted their target price on shares of SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their price target on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets restated an “outperform” rating and set a $87.00 price objective (up previously from $72.00) on shares of SL Green Realty in a research report on Monday. Finally, Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and upped their target price for the stock from $44.00 to $66.00 in a report on Friday, September 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.71.

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SL Green Realty Stock Performance

SLG traded up $0.08 on Tuesday, reaching $76.88. The company had a trading volume of 187,980 shares, compared to its average volume of 984,940. The company’s fifty day moving average is $67.89 and its 200 day moving average is $59.90. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.59 and a current ratio of 2.58. The stock has a market cap of $5.01 billion, a P/E ratio of -30.75, a P/E/G ratio of 2.18 and a beta of 1.83. SL Green Realty has a fifty-two week low of $28.55 and a fifty-two week high of $79.08.

SL Green Realty (NYSE:SLG – Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The firm had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. During the same quarter last year, the business posted $1.27 EPS. As a group, analysts predict that SL Green Realty will post 7.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SLG. Xponance Inc. grew its stake in SL Green Realty by 6.6% during the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 262 shares during the period. Vert Asset Management LLC boosted its holdings in shares of SL Green Realty by 1.5% during the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after buying an additional 394 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of SL Green Realty by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the real estate investment trust’s stock valued at $1,846,000 after acquiring an additional 500 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of SL Green Realty during the 2nd quarter valued at $29,000. Finally, Mackenzie Financial Corp grew its holdings in SL Green Realty by 11.6% in the second quarter. Mackenzie Financial Corp now owns 5,088 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 530 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Company Profile

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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.

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