Jefferies Financial Group Has Lowered Expectations for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its target price dropped by equities research analysts at Jefferies Financial Group from $75.00 to $69.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price target suggests a potential upside of 1.13% from the stock’s current price.

Several other equities research analysts also recently weighed in on SLG. Morgan Stanley lifted 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. Compass Point boosted their target price on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Scotiabank increased their price target on SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Finally, Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $66.00 in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $68.47.

SL Green Realty Trading Up 0.5 %

NYSE SLG traded up $0.31 during mid-day trading on Thursday, reaching $68.23. 156,374 shares of the stock were exchanged, compared to its average volume of 985,227. The stock has a market cap of $4.50 billion, a P/E ratio of -27.29, a P/E/G ratio of 4.26 and a beta of 1.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty has a one year low of $41.81 and a one year high of $82.81. The stock has a 50 day simple moving average of $74.81 and a 200-day simple moving average of $68.12.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data 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 return on equity of 3.76% and a negative net margin of 16.78%. The business had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period last year, the business posted $1.27 earnings per share. On average, analysts anticipate that SL Green Realty will post 7.82 EPS for the current year.

Institutional Trading of SL Green Realty

Institutional investors and hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC increased its holdings 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 buying an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of SL Green Realty during the 2nd quarter valued at $29,000. Point72 DIFC Ltd bought a new position in shares of SL Green Realty during the 3rd quarter worth $35,000. Friedenthal Financial bought a new stake in SL Green Realty in the 3rd quarter valued at about $49,000. Finally, Rothschild Investment LLC purchased a new stake in SL Green Realty during the second quarter valued at about $55,000. 89.96% of the stock is owned by hedge funds and other 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.