Mizuho Issues Positive Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its price objective hoisted by Mizuho from $45.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective would indicate a potential downside of 0.52% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company lifted their price objective on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Morgan Stanley upped their price target on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Scotiabank lifted their price objective on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Barclays upped their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI boosted their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating 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 assigned a buy rating to the company. According to MarketBeat, SL Green Realty presently has an average rating of “Hold” and an average target price of $68.38.

SL Green Realty Stock Performance

SLG opened at $67.35 on Tuesday. The stock has a market cap of $4.44 billion, a PE ratio of -26.94, a P/E/G ratio of 4.26 and a beta of 1.82. SL Green Realty has a 1 year low of $41.81 and a 1 year high of $82.81. The stock’s 50 day simple moving average is $74.46 and its 200-day simple moving average is $68.36. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The business had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the prior year, the company posted $1.27 EPS. Sell-side analysts forecast that SL Green Realty will post 7.82 EPS for the current year.

Institutional Investors Weigh In On SL Green Realty

Several institutional investors have recently modified their holdings of SLG. Edgestream Partners L.P. boosted its stake in SL Green Realty by 40.1% in the second quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock valued at $6,960,000 after acquiring an additional 35,178 shares during the last quarter. Waterfall Asset Management LLC acquired a new stake in shares of SL Green Realty during the second quarter worth $3,172,000. FMR LLC increased its holdings in SL Green Realty by 69.1% in the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock valued at $4,050,000 after purchasing an additional 23,780 shares during the last quarter. Weiss Asset Management LP acquired a new position in SL Green Realty in the third quarter valued at about $771,000. Finally, Citigroup Inc. boosted its holdings in SL Green Realty by 54.6% during the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock worth $5,958,000 after buying an additional 30,220 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.