SL Green Realty (NYSE:SLG) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

SL Green Realty (NYSE:SLG) was upgraded by Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $44.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $45.00. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 15.23% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Citigroup lowered their price target on SL Green Realty from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Scotiabank set a $52.00 price objective on SL Green Realty and gave the company a “sector outperform” rating in a report on Friday. JPMorgan Chase & Co. reduced their price objective on SL Green Realty from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. BMO Capital Markets decreased their target price on SL Green Realty from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 8th. Finally, BTIG Research dropped their target price on SL Green Realty from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.80.

SL Green Realty Stock Up 3.8%

SLG stock opened at $38.18 on Wednesday. The stock has a market capitalization of $2.72 billion, a PE ratio of -23.72 and a beta of 1.66. SL Green Realty has a 52 week low of $35.03 and a 52 week high of $66.91. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $42.23 and a 200 day moving average of $48.57.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. During the same quarter last year, the company posted $1.81 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts forecast that SL Green Realty will post 5.43 earnings per share for the current year.

Insider Buying and Selling at SL Green Realty

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quent Capital LLC acquired a new position in SL Green Realty in the third quarter valued at approximately $27,000. Salomon & Ludwin LLC acquired a new stake in shares of SL Green Realty during the 3rd quarter worth approximately $29,000. Whittier Trust Co. purchased a new position in shares of SL Green Realty during the 3rd quarter valued at approximately $29,000. Triumph Capital Management purchased a new position in shares of SL Green Realty during the 3rd quarter valued at approximately $45,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of SL Green Realty by 12,114.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 848 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About SL Green Realty

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.