Truist Financial Increases SL Green Realty (NYSE:SLG) Price Target to $62.00

SL Green Realty (NYSE:SLG) had its price target increased by stock analysts at Truist Financial from $61.00 to $62.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price would indicate a potential downside of 6.75% from the company’s previous close.

SLG has been the topic of a number of other research reports. Mizuho upped their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their target price on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Compass Point lifted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a $87.00 price target (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.81.

SL Green Realty Trading Up 0.8 %

NYSE:SLG traded up $0.50 during mid-day trading on Monday, hitting $66.49. 247,040 shares of the company’s stock were exchanged, compared to its average volume of 792,315. SL Green Realty has a fifty-two week low of $41.88 and a fifty-two week 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 firm has a market capitalization of $4.38 billion, a P/E ratio of 832.05, a PEG ratio of 5.53 and a beta of 1.82. The company has a 50 day simple moving average of $70.73 and a 200-day simple moving average of $69.33.

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 (EPS) for the quarter, beating 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, research analysts expect that SL Green Realty will post 5.43 earnings per share for the current year.

Institutional Trading of SL Green Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of SL Green Realty by 50.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after buying an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SL Green Realty by 396.3% during the third 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in SL Green Realty during the third quarter valued at approximately $18,811,000. Charles Schwab Investment Management Inc. raised its stake in SL Green Realty by 8.3% in 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 in the last quarter. Finally, Barclays PLC boosted its position in SL Green Realty by 304.8% during the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 83,478 shares in the last quarter. Hedge funds and other institutional investors 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.