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

SL Green Realty (NYSE:SLG) had its price objective increased by investment analysts at Barclays from $66.00 to $78.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 3.20% from the stock’s previous close.

A number of other brokerages have also recently weighed in on SLG. StockNews.com raised SL Green Realty to a “sell” rating in a research note on Friday, July 19th. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the stock a “neutral” rating in a research report on Friday, October 18th. Truist Financial increased their target price on SL Green Realty from $47.00 to $55.00 and gave the company a “hold” rating in a report on Friday, July 19th. BMO Capital Markets reaffirmed 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, Morgan Stanley boosted their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.71.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $75.58 on Tuesday. The business has a 50-day moving average of $68.44 and a two-hundred day moving average of $60.18. The firm has a market capitalization of $4.98 billion, a PE ratio of -9.15, a P/E/G ratio of 2.18 and a beta of 1.83. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.58 and a quick ratio of 2.59. SL Green Realty has a 12 month low of $28.55 and a 12 month high of $79.08.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS 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 company had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, research analysts forecast that SL Green Realty will post 7.62 earnings per share for the current year.

Institutional Inflows and Outflows

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

About SL Green Realty

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.