SL Green Realty (NYSE:SLG) Price Target Lowered to $50.00 at LADENBURG THALM/SH SH

SL Green Realty (NYSE:SLG) had its target price reduced by stock analysts at LADENBURG THALM/SH SH from $60.00 to $50.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s target price points to a potential upside of 13.07% from the stock’s current price.

Other research analysts have also issued reports about the stock. Jefferies Financial Group raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $57.00 to $63.00 in a research report on Monday, October 13th. Evercore ISI set a $54.00 target price on shares of SL Green Realty and gave the stock an “outperform” rating in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $46.00 price target (down from $60.00) on shares of SL Green Realty in a research report on Tuesday, December 9th. Mizuho cut their price target on shares of SL Green Realty from $67.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Finally, Barclays set a $59.00 price objective on SL Green Realty in a report on Monday, November 3rd. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.88.

SL Green Realty Trading Down 0.8%

Shares of SLG stock traded down $0.34 during mid-day trading on Thursday, hitting $44.22. The company’s stock had a trading volume of 507,125 shares, compared to its average volume of 1,011,408. SL Green Realty has a 52 week low of $40.26 and a 52 week high of $70.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.22 and a current ratio of 3.22. The company’s fifty day simple moving average is $48.86 and its 200-day simple moving average is $56.15. The company has a market cap of $3.15 billion, a PE ratio of 4,433.53 and a beta of 1.61.

SL Green Realty (NYSE:SLG) last issued its earnings results on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.24. The business had revenue of $244.82 million for the quarter, compared to analyst estimates of $170.27 million. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. SL Green Realty’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 earnings per share. As a group, equities research analysts expect that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SL Green Realty

Several institutional investors have recently made changes to their positions in SLG. Intech Investment Management LLC boosted its stake in shares of SL Green Realty by 36.9% in the first quarter. Intech Investment Management LLC now owns 48,390 shares of the real estate investment trust’s stock worth $2,792,000 after acquiring an additional 13,048 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of SL Green Realty by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock worth $97,851,000 after buying an additional 130,206 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of SL Green Realty in the 2nd quarter valued at $225,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of SL Green Realty by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,251 shares of the real estate investment trust’s stock worth $30,249,000 after purchasing an additional 50,450 shares in the last quarter. Finally, Greenland Capital Management LP purchased a new stake in SL Green Realty during the 2nd quarter worth approximately $4,176,000. 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.