SL Green Realty (NYSE:SLG) Earns Neutral Rating from Analysts at Mizuho

Equities researchers at Mizuho assumed coverage on shares of SL Green Realty (NYSE:SLGGet Rating) in a research note issued on Friday, The Fly reports. The brokerage set a “neutral” rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of SL Green Realty from $82.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. StockNews.com started coverage on shares of SL Green Realty in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Truist Financial lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and reduced their price objective for the company from $87.00 to $85.00 in a report on Monday, March 28th. TheStreet lowered shares of SL Green Realty from a “b-” rating to a “c+” rating in a report on Friday, January 28th. Finally, Barclays raised their price objective on shares of SL Green Realty from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, March 29th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.44.

SL Green Realty stock opened at $75.26 on Friday. The firm has a market cap of $4.87 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 5.30 and a beta of 1.39. SL Green Realty has a 52-week low of $66.50 and a 52-week high of $85.65. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average is $78.91 and its two-hundred day moving average is $77.03.

SL Green Realty (NYSE:SLGGet Rating) last released its earnings results on Wednesday, April 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.10. SL Green Realty had a net margin of 53.29% and a return on equity of 8.92%. The company had revenue of $187.96 million for the quarter, compared to analyst estimates of $163.65 million. During the same period in the prior year, the business earned $1.78 EPS. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. On average, equities research analysts anticipate that SL Green Realty will post 6.88 earnings per share for the current fiscal year.

In other SL Green Realty news, Director Edwin T. Burton III sold 3,476 shares of SL Green Realty stock in a transaction on Thursday, February 17th. The shares were sold at an average price of $81.40, for a total value of $282,946.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig M. Hatkoff sold 3,560 shares of SL Green Realty stock in a transaction on Monday, February 14th. The shares were sold at an average price of $77.31, for a total transaction of $275,223.60. The disclosure for this sale can be found here. 4.45% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SLG. BlackRock Inc. increased its stake in shares of SL Green Realty by 7.0% during the fourth quarter. BlackRock Inc. now owns 9,764,636 shares of the real estate investment trust’s stock worth $700,126,000 after acquiring an additional 635,270 shares during the period. State Street Corp increased its stake in shares of SL Green Realty by 5.9% during the fourth quarter. State Street Corp now owns 3,438,086 shares of the real estate investment trust’s stock worth $255,865,000 after acquiring an additional 192,982 shares during the period. Confluence Investment Management LLC increased its stake in shares of SL Green Realty by 1.2% during the first quarter. Confluence Investment Management LLC now owns 1,347,654 shares of the real estate investment trust’s stock worth $109,403,000 after acquiring an additional 15,805 shares during the period. Bank of New York Mellon Corp increased its stake in shares of SL Green Realty by 13.6% during the third quarter. Bank of New York Mellon Corp now owns 1,191,513 shares of the real estate investment trust’s stock worth $84,406,000 after acquiring an additional 142,410 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of SL Green Realty by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,044,966 shares of the real estate investment trust’s stock worth $74,924,000 after acquiring an additional 24,202 shares during the period. Institutional investors own 86.63% of the company’s stock.

SL Green Realty Company Profile (Get Rating)

SL Green Realty Corp., an S&P 500 company and 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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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