SL Green Realty (NYSE:SLG) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

SL Green Realty (NYSE:SLG) had its target price boosted by Jefferies Financial Group from $70.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price objective suggests a potential downside of 9.58% from the stock’s previous close.

SLG has been the subject of a number of other reports. Citigroup upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $44.00 to $66.00 in a report on Friday, September 13th. Barclays raised their target price on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Morgan Stanley increased 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. Piper Sandler reiterated an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, The Goldman Sachs Group raised their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $66.00.

SL Green Realty Trading Up 0.6 %

NYSE:SLG opened at $79.63 on Friday. The firm has a fifty day simple moving average of $73.89 and a two-hundred day simple moving average of $64.18. SL Green Realty has a 12 month low of $32.78 and a 12 month high of $82.81. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of -31.85, a PEG ratio of 2.09 and a beta of 1.82. 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 posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The firm had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period last year, the company posted $1.27 earnings per share. Analysts expect that SL Green Realty will post 7.61 EPS for the current fiscal year.

Institutional Investors Weigh In On SL Green Realty

Several large investors have recently added to or reduced their stakes in SLG. Venturi Wealth Management LLC boosted its position in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in SL Green Realty in the 2nd quarter valued at approximately $29,000. Point72 DIFC Ltd bought a new stake in SL Green Realty during the 3rd quarter valued at $35,000. Friedenthal Financial purchased a new stake in shares of SL Green Realty during the third quarter worth $49,000. Finally, Rothschild Investment LLC bought a new position in shares of SL Green Realty in the second quarter worth $55,000. Hedge funds and other 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.