SL Green Realty (NYSE:SLG) Price Target Raised to $79.00 at Evercore ISI

SL Green Realty (NYSE:SLG) had its price objective increased by equities researchers at Evercore ISI from $67.00 to $79.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 1.96% from the stock’s previous close.

SLG has been the subject of several other research reports. Barclays boosted their price target on shares of SL Green Realty from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Compass Point set a $65.00 price target on SL Green Realty and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group boosted their price objective on SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, Piper Sandler set a $75.00 price target on shares of SL Green Realty in a report on Thursday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, SL Green Realty has an average rating of “Hold” and a consensus price target of $62.79.

SL Green Realty Trading Down 1.6 %

NYSE SLG traded down $1.29 on Monday, reaching $77.48. The company had a trading volume of 247,139 shares, compared to its average volume of 986,292. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of -9.38, a PEG ratio of 1.94 and a beta of 1.83. SL Green Realty has a 52 week low of $28.55 and a 52 week high of $79.08. The stock’s 50 day moving average is $67.57 and its 200-day moving average is $59.72. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The firm had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. During the same period in the previous year, the business earned $1.27 EPS. Equities analysts predict that SL Green Realty will post 7.61 earnings per share for the current year.

Institutional Trading of SL Green Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. raised its stake in shares of SL Green Realty by 6.6% during the 2nd 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 in the last quarter. Vert Asset Management LLC increased its position in SL Green Realty by 1.5% during the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after acquiring an additional 394 shares during the period. Louisiana State Employees Retirement System raised its stake in SL Green Realty by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the real estate investment trust’s stock worth $1,846,000 after purchasing an additional 500 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in SL Green Realty in the 2nd quarter valued at about $29,000. Finally, Mackenzie Financial Corp grew its position in shares of SL Green Realty by 11.6% during the 2nd 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 in the last quarter. Institutional investors and hedge funds 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.