SL Green Realty (NYSE:SLG) PT Raised to $80.00

SL Green Realty (NYSE:SLG) had its target price lifted by Scotiabank from $68.00 to $80.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price suggests a potential upside of 3.86% from the stock’s previous close.

A number of other brokerages have also weighed in on SLG. Truist Financial upped 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. Morgan Stanley increased their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Piper Sandler restated an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research note on Monday. The Goldman Sachs Group upped their target price on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Barclays upped their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.57.

SL Green Realty Price Performance

NYSE SLG traded down $0.44 during trading on Friday, reaching $77.03. 95,392 shares of the company traded hands, compared to its average volume of 980,763. 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’s 50 day moving average price is $68.72 and its two-hundred day moving average price is $60.30. The company has a market cap of $5.02 billion, a price-to-earnings ratio of -30.73, a P/E/G ratio of 2.12 and a beta of 1.83. SL Green Realty has a 1-year low of $28.55 and a 1-year high of $79.08.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate 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 business had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same period in the previous year, the firm earned $1.27 earnings per share. As a group, analysts anticipate that SL Green Realty will post 7.62 EPS for the current year.

Institutional Trading of SL Green Realty

Several large investors have recently made changes to their positions in SLG. Monument Capital Management acquired a new stake in shares of SL Green Realty during the 1st quarter worth approximately $323,000. Abundance Wealth Counselors boosted its position in shares of SL Green Realty by 29.8% during the 1st quarter. Abundance Wealth Counselors now owns 7,525 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 1,727 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of SL Green Realty by 11.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 28,971 shares of the real estate investment trust’s stock worth $1,597,000 after acquiring an additional 2,898 shares in the last quarter. Summit Place Financial Advisors LLC acquired a new stake in shares of SL Green Realty during the 1st quarter worth approximately $331,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of SL Green Realty by 12.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust’s stock worth $6,890,000 after acquiring an additional 13,412 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Company Profile

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.