SL Green Realty (NYSE:SLG) Price Target Raised to $67.00

SL Green Realty (NYSE:SLG) had its price target increased by equities research analysts at Mizuho from $45.00 to $67.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target indicates a potential downside of 0.52% from the company’s current price.

Several other research firms have also recently commented on SLG. Barclays raised their price target 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. Wells Fargo & Company boosted their price target on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Evercore ISI increased their price objective on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Finally, Compass Point raised their price target on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and an average target price of $68.38.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $67.35 on Tuesday. The company’s fifty day moving average is $74.46 and its two-hundred day moving average is $68.36. The company has a market cap of $4.44 billion, a P/E ratio of -26.94, a price-to-earnings-growth ratio of 4.26 and a beta of 1.82. SL Green Realty has a 12-month low of $41.81 and a 12-month high of $82.81. 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 (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 the consensus estimate 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 for the quarter, compared to analyst estimates of $136.66 million. During the same period in the previous year, the firm posted $1.27 earnings per share. Equities analysts expect that SL Green Realty will post 7.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SL Green Realty

A number of institutional investors have recently made changes to their positions in SLG. Venturi Wealth Management LLC grew its holdings in SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SL Green Realty in the second quarter worth $29,000. Point72 DIFC Ltd bought a new position in SL Green Realty during the third quarter worth $35,000. Friedenthal Financial acquired a new position in SL Green Realty during the 3rd quarter valued at $49,000. Finally, Blue Trust Inc. boosted its holdings in SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 632 shares during the period. 89.96% of the stock is currently 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.