Scotiabank Issues Pessimistic Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its price target dropped by equities researchers at Scotiabank from $81.00 to $75.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 16.02% from the company’s current price.

Other analysts also recently issued research reports about the stock. Truist Financial raised their price objective on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, January 27th. Bank of America decreased their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Barclays reduced their target price on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group reduced their target price on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.67.

SL Green Realty Stock Up 0.1 %

Shares of NYSE:SLG opened at $64.65 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty has a 12 month low of $46.83 and a 12 month high of $82.81. The company has a 50-day moving average price of $65.63 and a 200 day moving average price of $69.69. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 808.06, a PEG ratio of 5.30 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. As a group, equities research analysts predict that SL Green Realty will post 5.43 earnings per share for the current year.

Insider Buying and Selling at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.08% of the stock is owned by corporate insiders.

Institutional Trading of SL Green Realty

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of SL Green Realty during the fourth quarter worth about $80,000. Public Employees Retirement System of Ohio grew its stake in SL Green Realty by 8.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 100,068 shares of the real estate investment trust’s stock valued at $6,797,000 after acquiring an additional 7,566 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in SL Green Realty during the 4th quarter valued at about $75,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SL Green Realty by 6.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 473,801 shares of the real estate investment trust’s stock valued at $32,181,000 after acquiring an additional 27,631 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in SL Green Realty in the 4th quarter valued at about $11,192,000. 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.