SL Green Realty (NYSE:SLG) Price Target Raised to $62.00

SL Green Realty (NYSE:SLG) had its target price lifted by investment analysts at Truist Financial from $61.00 to $62.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target points to a potential downside of 6.75% from the company’s current price.

A number of other analysts have also recently commented on the company. Barclays boosted their price objective on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Evercore ISI increased their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and raised their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Scotiabank increased their price target on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $68.81.

SL Green Realty Stock Up 0.8 %

Shares of SL Green Realty stock traded up $0.50 during trading on Monday, reaching $66.49. The company’s stock had a trading volume of 247,040 shares, compared to its average volume of 792,315. The company has a 50-day simple moving average of $70.73 and a two-hundred day simple moving average of $69.33. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty has a 1-year low of $41.88 and a 1-year high of $82.81. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 832.05, a P/E/G ratio of 5.53 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 analysts forecast that SL Green Realty will post 5.43 earnings per share for the current year.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors have recently made changes to their positions in SLG. Wellington Management Group LLP boosted its position in SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock valued at $202,777,000 after purchasing an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SL Green Realty by 396.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock valued at $31,058,000 after purchasing an additional 356,275 shares during the last quarter. Point72 Asset Management L.P. bought a new position in SL Green Realty in the 3rd quarter worth about $18,811,000. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock worth $88,275,000 after buying an additional 97,653 shares during the period. Finally, Barclays PLC lifted its stake in shares of SL Green Realty by 304.8% in the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock worth $7,718,000 after acquiring an additional 83,478 shares during the period. 89.96% of the stock is currently owned by institutional investors.

About SL Green Realty

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.