SL Green Realty (NYSE:SLG) Given New $72.00 Price Target at Jefferies Financial Group

SL Green Realty (NYSE:SLG) had its price target raised by equities research analysts at Jefferies Financial Group from $70.00 to $72.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price indicates a potential downside of 9.58% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on SLG. Scotiabank increased their price target on SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. BMO Capital Markets restated an “outperform” rating and set a $87.00 target price (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Morgan Stanley upped their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $66.00.

SL Green Realty Stock Up 0.6 %

SLG traded up $0.48 during trading hours on Friday, hitting $79.63. 3,306,551 shares of the company’s stock were exchanged, compared to its average volume of 965,444. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty has a 1-year low of $32.78 and a 1-year high of $82.81. The stock’s 50-day moving average is $73.69 and its two-hundred day moving average is $63.99. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of -31.85, a PEG ratio of 2.05 and a beta of 1.82.

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 company had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same quarter in the prior year, the business earned $1.27 earnings per share. Sell-side analysts predict that SL Green Realty will post 7.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors have recently added to or reduced their stakes in SLG. DekaBank Deutsche Girozentrale raised its position in shares of SL Green Realty by 18.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after acquiring an additional 10,704 shares during the last quarter. Edgestream Partners L.P. grew its stake in SL Green Realty by 40.1% during the second quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after purchasing an additional 35,178 shares during the period. Swedbank AB bought a new stake in SL Green Realty in the first quarter worth approximately $4,675,000. Waterfall Asset Management LLC acquired a new position in SL Green Realty in the second quarter valued at approximately $3,172,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of SL Green Realty by 13.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock worth $7,244,000 after buying an additional 14,871 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

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.