SL Green Realty (NYSE:SLG) Stock Price Expected to Rise, Truist Financial Analyst Says

SL Green Realty (NYSE:SLG) had its price target boosted by research analysts at Truist Financial from $44.00 to $46.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 9.26% from the stock’s current price.

Several other equities research analysts have also recently commented on SLG. Mizuho set a $38.00 price target on shares of SL Green Realty and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. UBS Group set a $61.00 price target on shares of SL Green Realty in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, January 21st. Piper Sandler dropped their price target on SL Green Realty from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Barclays cut their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and a consensus target price of $51.15.

SL Green Realty Stock Down 2.2%

SLG stock opened at $42.10 on Wednesday. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $66.91. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -16.77 and a beta of 1.61. The firm’s 50-day moving average is $38.73 and its two-hundred day moving average is $44.61. The company has a current ratio of 3.03, a quick ratio of 2.66 and a debt-to-equity ratio of 1.19.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative net margin of 15.77% and a negative return on equity of 4.06%. The firm had revenue of $159.82 million for the quarter, compared to analysts’ expectations of $162.73 million. During the same period in the previous year, the business earned $1.81 earnings per share. SL Green Realty’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts forecast that SL Green Realty will post 4.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SL Green Realty

Several institutional investors and hedge funds have recently bought and sold shares of SLG. Quent Capital LLC purchased a new position in SL Green Realty during the 3rd quarter valued at about $27,000. Salomon & Ludwin LLC purchased a new position in SL Green Realty during the 3rd quarter valued at about $29,000. Whittier Trust Co. purchased a new position in SL Green Realty during the 3rd quarter valued at about $29,000. Triumph Capital Management bought a new stake in shares of SL Green Realty in the 3rd quarter valued at approximately $45,000. Finally, Davis Capital Management bought a new stake in shares of SL Green Realty in the 1st quarter valued at approximately $46,000. Hedge funds and other 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.