SL Green Realty (NYSE:SLG) Given New $67.00 Price Target at Mizuho

SL Green Realty (NYSE:SLG) had its target price increased by equities researchers at Mizuho from $45.00 to $67.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price points to a potential upside of 3.88% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Jefferies Financial Group lowered their price target on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company raised their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Morgan Stanley upped their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and increased their price target for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Finally, Barclays lifted their price objective on SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.38.

SL Green Realty Stock Down 1.8 %

Shares of SLG opened at $64.50 on Tuesday. The business’s fifty day moving average price is $73.76 and its two-hundred day moving average price is $68.48. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -25.80, a PEG ratio of 4.26 and a beta of 1.82. SL Green Realty has a 52 week low of $41.81 and a 52 week high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The firm had revenue of $229.69 million for the quarter, compared to analyst estimates 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 period last year, the company earned $1.27 EPS. On average, analysts predict that SL Green Realty will post 7.82 earnings per share for the current year.

Institutional Investors Weigh In On SL Green Realty

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in SL Green Realty during the 2nd quarter worth about $29,000. Commonwealth Equity Services LLC grew its holdings in shares of SL Green Realty by 2.8% during the second quarter. Commonwealth Equity Services LLC now owns 29,770 shares of the real estate investment trust’s stock worth $1,686,000 after buying an additional 799 shares in the last quarter. Natixis Advisors LLC raised its position in SL Green Realty by 10.9% in the 2nd quarter. Natixis Advisors LLC now owns 21,764 shares of the real estate investment trust’s stock valued at $1,233,000 after buying an additional 2,145 shares during the last quarter. Rhumbline Advisers lifted its stake in SL Green Realty by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust’s stock valued at $13,302,000 after acquiring an additional 3,255 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in SL Green Realty by 4.0% in the 2nd quarter. Victory Capital Management Inc. now owns 22,520 shares of the real estate investment trust’s stock valued at $1,276,000 after acquiring an additional 869 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

About SL Green Realty

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.