Barclays Increases SL Green Realty (NYSE:SLG) Price Target to $49.00

SL Green Realty (NYSE:SLG) had its price target raised by equities research analysts at Barclays from $48.00 to $49.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential downside of 22.52% from the stock’s current price.

SLG has been the topic of several other reports. Morgan Stanley boosted their target price on SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Citigroup boosted their target price on SL Green Realty from $31.00 to $37.00 and gave the stock a “sell” rating in a report on Thursday, June 13th. JPMorgan Chase & Co. boosted their target price on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Thursday, April 25th. BMO Capital Markets upgraded SL Green Realty from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $56.00 to $58.00 in a report on Thursday, April 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $58.00 price objective on shares of SL Green Realty in a report on Tuesday, March 26th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and an average target price of $45.46.

SL Green Realty Trading Down 0.4 %

Shares of SL Green Realty stock opened at $63.24 on Monday. The stock has a market cap of $4.16 billion, a P/E ratio of -7.66, a P/E/G ratio of 1.14 and a beta of 1.83. The stock’s 50 day simple moving average is $54.80 and its 200-day simple moving average is $50.75. SL Green Realty has a 1-year low of $28.55 and a 1-year high of $64.90. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96.

Hedge Funds Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in SL Green Realty by 6.3% in the first quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 196 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 227 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of SL Green Realty by 1.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock worth $621,000 after purchasing an additional 255 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of SL Green Realty by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,093 shares of the real estate investment trust’s stock worth $320,000 after purchasing an additional 414 shares in the last quarter. Finally, Private Trust Co. NA purchased a new position in SL Green Realty in the fourth quarter valued at $33,000. 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.