SL Green Realty (NYSE:SLG) Price Target Cut to $38.00

SL Green Realty (NYSE:SLGGet Rating) had its price objective dropped by research analysts at Morgan Stanley from $44.00 to $38.00 in a research note issued on Wednesday, The Fly reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price indicates a potential downside of 6.82% from the stock’s current price.

Several other brokerages have also recently weighed in on SLG. Wells Fargo & Company boosted their price target on shares of SL Green Realty from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday. BMO Capital Markets raised shares of SL Green Realty from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $60.00 to $56.00 in a research report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SL Green Realty from $57.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, October 13th. Evercore ISI decreased their target price on shares of SL Green Realty from $54.00 to $51.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 27th. Finally, TheStreet cut shares of SL Green Realty from a “c” rating to a “d+” rating in a research report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.85.

SL Green Realty Trading Down 0.8 %

Shares of SLG stock opened at $40.78 on Wednesday. The company’s 50-day moving average price is $39.95 and its 200-day moving average price is $47.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.34. SL Green Realty has a twelve month low of $35.77 and a twelve month high of $83.96.

SL Green Realty (NYSE:SLGGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $162.95 million for the quarter, compared to analysts’ expectations of $158.30 million. SL Green Realty had a negative net margin of 8.17% and a negative return on equity of 1.34%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. As a group, equities analysts expect that SL Green Realty will post 6.71 earnings per share for the current year.

Institutional Trading of SL Green Realty

A number of institutional investors and hedge funds have recently bought and sold shares of SLG. abrdn plc increased its stake in shares of SL Green Realty by 933.9% during the first quarter. abrdn plc now owns 273,848 shares of the real estate investment trust’s stock worth $22,419,000 after buying an additional 247,360 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of SL Green Realty by 486.4% during the first quarter. Envestnet Asset Management Inc. now owns 57,564 shares of the real estate investment trust’s stock worth $4,673,000 after buying an additional 47,747 shares during the period. Victory Capital Management Inc. increased its stake in shares of SL Green Realty by 53.6% during the first quarter. Victory Capital Management Inc. now owns 15,732 shares of the real estate investment trust’s stock worth $1,089,000 after buying an additional 5,487 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of SL Green Realty during the first quarter worth approximately $108,000. Finally, California Public Employees Retirement System increased its stake in shares of SL Green Realty by 1.0% during the first quarter. California Public Employees Retirement System now owns 148,847 shares of the real estate investment trust’s stock worth $12,083,000 after buying an additional 1,420 shares during the period. 89.19% of the stock is currently owned by hedge funds and other 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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