SL Green Realty Corporation (NYSE:SLG)‘s stock had its “buy” rating reissued by research analysts at BMO Capital Markets in a research note issued to investors on Tuesday, July 4th. They presently have a $127.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ target price would indicate a potential upside of 24.60% from the company’s current price.
A number of other brokerages have also issued reports on SLG. Barclays PLC boosted their price target on SL Green Realty Corporation from $110.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Morgan Stanley lowered SL Green Realty Corporation from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $120.00 to $106.00 in a research report on Tuesday, June 13th. Jefferies Group LLC reiterated a “hold” rating and set a $113.00 price target on shares of SL Green Realty Corporation in a research report on Thursday, April 20th. TheStreet lowered SL Green Realty Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on SL Green Realty Corporation in a report on Thursday, June 22nd. They issued a “buy” rating and a $121.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $115.67.
SL Green Realty Corporation (SLG) opened at 101.93 on Tuesday. The firm’s 50-day moving average is $104.53 and its 200-day moving average is $106.72. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $120.63. The stock has a market cap of $10.03 billion, a P/E ratio of 104.44 and a beta of 1.18.
SL Green Realty Corporation (NYSE:SLG) last announced its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by $1.54. SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. The business had revenue of $279.41 million for the quarter, compared to analyst estimates of $281.40 million. Equities research analysts predict that SL Green Realty Corporation will post $1.72 earnings per share for the current year.
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In related news, Director John H. Alschuler, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $106.74, for a total transaction of $640,440.00. Following the transaction, the director now directly owns 7,196 shares of the company’s stock, valued at $768,101.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.09% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SLG. Tudor Investment Corp ET AL purchased a new position in shares of SL Green Realty Corporation during the first quarter valued at $203,000. Achmea Investment Management B.V. bought a new stake in SL Green Realty Corporation during the first quarter valued at about $224,000. OppenheimerFunds Inc. increased its stake in SL Green Realty Corporation by 13.0% in the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 246 shares during the period. Global X Management Co. LLC increased its stake in SL Green Realty Corporation by 35.1% in the first quarter. Global X Management Co. LLC now owns 2,146 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 557 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in SL Green Realty Corporation during the first quarter valued at about $232,000.
SL Green Realty Corporation Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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