SL Green Realty Corporation (NYSE:SLG) Receives $52.85 Consensus Price Target from Analysts

Shares of SL Green Realty Corporation (NYSE:SLG) have earned an average rating of “Hold” from the eighteen analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $52.80.

A number of brokerages have recently weighed in on SLG. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, January 21st. Raymond James Financial set a $44.00 price target on SL Green Realty in a research note on Tuesday, February 3rd. Zacks Research raised SL Green Realty from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. The Goldman Sachs Group set a $37.00 price objective on SL Green Realty and gave the stock a “sell” rating in a research report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and dropped their target price for the stock from $45.00 to $44.00 in a report on Wednesday.

Insider Activity

In other SL Green Realty news, CEO Marc Holliday sold 22,223 shares of SL Green Realty stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the completion of the sale, the chief executive officer owned 9,698 shares in the company, valued at $430,591.20. The trade was a 69.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew S. Levine sold 1,493 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.27, for a total transaction of $67,588.11. Following the completion of the sale, the insider directly owned 7,045 shares of the company’s stock, valued at $318,927.15. This represents a 17.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.04% of the stock is owned by insiders.

Institutional Investors Weigh In On SL Green Realty

Institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its position in SL Green Realty by 17.0% during the fourth quarter. Hsbc Holdings PLC now owns 131,367 shares of the real estate investment trust’s stock worth $6,030,000 after buying an additional 19,052 shares in the last quarter. Invesco Ltd. raised its holdings in SL Green Realty by 83.0% in the 4th quarter. Invesco Ltd. now owns 310,982 shares of the real estate investment trust’s stock valued at $14,265,000 after acquiring an additional 141,060 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of SL Green Realty by 11.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,595 shares of the real estate investment trust’s stock valued at $440,000 after acquiring an additional 976 shares during the period. Empowered Funds LLC lifted its position in shares of SL Green Realty by 6.2% during the 4th quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 361 shares during the period. Finally, Adelante Capital Management LLC acquired a new stake in shares of SL Green Realty during the 4th quarter worth $4,441,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Up 3.2%

Shares of SLG opened at $39.60 on Tuesday. The firm has a market cap of $2.82 billion, a P/E ratio of -24.60 and a beta of 1.66. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.66 and a current ratio of 2.66. SL Green Realty has a 52 week low of $35.03 and a 52 week high of $66.91. The firm’s 50-day simple moving average is $41.86 and its 200 day simple moving average is $48.44.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The firm had revenue of $159.82 million during the quarter, compared to the consensus estimate of $162.73 million. During the same period last year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts forecast that SL Green Realty will post 5.43 earnings per share for the current year.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.