BTIG Research Lowers SL Green Realty (NYSE:SLG) Price Target to $70.00

SL Green Realty (NYSE:SLG) had its price target cut by analysts at BTIG Research from $75.00 to $70.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s target price would indicate a potential upside of 59.85% from the company’s previous close.

Other analysts have also issued research reports about the stock. LADENBURG THALM/SH SH lowered their price target on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, December 18th. The Goldman Sachs Group reiterated a “sell” rating and issued a $42.00 price objective (down from $48.00) on shares of SL Green Realty in a research note on Tuesday, December 23rd. Evercore set a $54.00 target price on shares of SL Green Realty and gave the company an “outperform” rating in a report on Monday, December 8th. Morgan Stanley set a $43.00 price target on SL Green Realty in a report on Thursday, January 29th. Finally, UBS Group set a $61.00 price target on SL Green Realty in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.30.

SL Green Realty Stock Up 3.3%

Shares of NYSE SLG opened at $43.79 on Thursday. SL Green Realty has a one year low of $40.26 and a one year high of $67.21. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.66 and a quick ratio of 3.22. The business’s fifty day moving average price is $45.66 and its 200-day moving average price is $51.94. The stock has a market capitalization of $3.12 billion, a PE ratio of -27.20 and a beta of 1.63.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. The company had revenue of $159.82 million during the quarter, compared to analyst estimates of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 EPS. On average, equities research analysts anticipate that SL Green Realty will post 5.43 EPS for the current year.

Insider Transactions at SL Green Realty

In other SL Green Realty news, CEO Marc Holliday sold 22,223 shares of SL Green Realty stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the sale, the chief executive officer directly owned 9,698 shares in the company, valued at $430,591.20. The trade was a 69.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew S. Levine sold 1,493 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total transaction of $67,588.11. Following the completion of the transaction, the insider directly owned 7,045 shares of the company’s stock, valued at approximately $318,927.15. This represents a 17.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in SL Green Realty during the third quarter worth about $27,000. Salomon & Ludwin LLC purchased a new position in shares of SL Green Realty during the 3rd quarter valued at about $29,000. Whittier Trust Co. bought a new stake in SL Green Realty in the 3rd quarter worth approximately $29,000. Bessemer Group Inc. boosted its stake in SL Green Realty by 67.8% in the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 253 shares in the last quarter. Finally, Triumph Capital Management bought a new position in SL Green Realty during the third quarter valued at approximately $45,000. Institutional investors own 89.96% of the company’s stock.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.