Jefferies Financial Group Begins Coverage on SL Green Realty (NYSE:SLG)

Research analysts at Jefferies Financial Group initiated coverage on shares of SL Green Realty (NYSE:SLG) in a research report issued on Monday, MarketBeat Ratings reports. The firm set a “hold” rating and a $58.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target indicates a potential upside of 2.34% from the company’s previous close.

Several other research analysts also recently weighed in on SLG. Morgan Stanley lifted their target price on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Scotiabank dropped their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Evercore ISI upgraded SL Green Realty from an “in-line” rating to an “outperform” rating and decreased their price objective for the stock from $74.00 to $73.00 in a research report on Monday. Wells Fargo & Company lowered their target price on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, Bank of America reduced their price target on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.87.

SL Green Realty Trading Up 2.0 %

Shares of NYSE:SLG opened at $56.67 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 708.40, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty has a 1-year low of $47.22 and a 1-year high of $82.81. The company has a 50 day moving average price of $63.99 and a 200 day moving average price of $69.36.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, research analysts anticipate that SL Green Realty will post 5.43 EPS for the current fiscal year.

Insider Activity

In related news, Director Craig M. Hatkoff sold 3,455 shares of SL Green Realty stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the sale, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.08% of the stock is currently owned by company insiders.

Institutional Trading of SL Green Realty

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in SL Green Realty in the 3rd quarter valued at $35,000. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the 4th quarter valued at about $39,000. Quadrant Capital Group LLC increased its stake in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 208 shares during the period. Versant Capital Management Inc raised its position in SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 157 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in SL Green Realty during the fourth quarter worth about $75,000. 89.96% of the stock is currently owned by institutional investors.

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.