Bank of America Has Lowered Expectations for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its price objective decreased by stock analysts at Bank of America from $80.00 to $73.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Bank of America‘s price target would indicate a potential upside of 9.65% from the stock’s previous close.

SLG has been the topic of a number of other reports. Compass Point boosted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Scotiabank boosted their price target on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Truist Financial boosted their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday. Evercore ISI boosted their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Finally, Piper Sandler restated an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.50.

SL Green Realty Trading Up 0.9 %

SLG traded up $0.59 during trading on Monday, reaching $66.58. 331,110 shares of the company’s stock were exchanged, compared to its average volume of 798,257. SL Green Realty has a one year low of $41.88 and a one year high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $4.39 billion, a PE ratio of 831.50, a price-to-earnings-growth ratio of 5.53 and a beta of 1.82. The firm has a fifty day moving average price of $70.73 and a two-hundred day moving average price of $69.33.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.11%. As a group, equities research analysts forecast that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

Institutional Trading of SL Green Realty

Several institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in SL Green Realty by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 39,786 shares of the real estate investment trust’s stock valued at $2,253,000 after buying an additional 557 shares during the period. Xponance Inc. boosted its position in SL Green Realty by 6.6% during the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 262 shares during the period. AQR Capital Management LLC boosted its position in SL Green Realty by 5.4% during the second quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust’s stock worth $621,000 after purchasing an additional 569 shares during the period. The Manufacturers Life Insurance Company boosted its position in SL Green Realty by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 40,780 shares of the real estate investment trust’s stock worth $2,310,000 after purchasing an additional 1,459 shares during the period. Finally, Mackenzie Financial Corp boosted its position in SL Green Realty by 11.6% during the second quarter. Mackenzie Financial Corp now owns 5,088 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 530 shares during the period. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Company Profile

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.