SL Green Realty Corporation (NYSE:SLG)‘s stock had its “buy” rating reiterated by research analysts at BMO Capital Markets in a report released on Tuesday, July 4th. They currently have a $127.00 price objective on the real estate investment trust’s stock. BMO Capital Markets’ price target suggests a potential upside of 25.57% from the company’s current price.
A number of other equities analysts have also issued reports on the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of SL Green Realty Corporation in a research report on Thursday, June 22nd. They set a “buy” rating and a $121.00 target price on the stock. Morgan Stanley lowered shares of SL Green Realty Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $120.00 to $106.00 in a report on Tuesday, June 13th. BidaskClub upgraded shares of SL Green Realty Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. ValuEngine downgraded shares of SL Green Realty Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, TheStreet downgraded shares of SL Green Realty Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. SL Green Realty Corporation has an average rating of “Hold” and an average price target of $115.67.
SL Green Realty Corporation (NYSE SLG) traded down 3.59% during mid-day trading on Tuesday, reaching $101.14. 1,479,623 shares of the company traded hands. The stock has a 50-day moving average of $104.52 and a 200 day moving average of $106.77. The stock has a market capitalization of $10.29 billion, a PE ratio of 45.70 and a beta of 1.18. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $120.63.
SL Green Realty Corporation (NYSE:SLG) last issued its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by $1.54. SL Green Realty Corporation had a return on equity of 2.98% and a net margin of 13.33%. The firm had revenue of $279.41 million during the quarter, compared to analyst estimates of $281.40 million. Equities research analysts expect that SL Green Realty Corporation will post $1.72 earnings per share for the current year.
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In other news, Director John H. Alschuler, Jr. sold 6,000 shares of SL Green Realty Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $106.74, for a total transaction of $640,440.00. Following the sale, the director now directly owns 7,196 shares of the company’s stock, valued at $768,101.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.09% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of SL Green Realty Corporation by 2,588.7% in the first quarter. BlackRock Inc. now owns 9,337,213 shares of the real estate investment trust’s stock valued at $995,533,000 after buying an additional 8,989,935 shares during the period. Brookfield Asset Management Inc. purchased a new stake in SL Green Realty Corporation during the first quarter valued at approximately $128,189,000. Prudential Financial Inc. increased its stake in SL Green Realty Corporation by 212.6% in the first quarter. Prudential Financial Inc. now owns 726,323 shares of the real estate investment trust’s stock valued at $77,440,000 after buying an additional 493,972 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of SL Green Realty Corporation by 2.1% in the first quarter. Vanguard Group Inc. now owns 17,792,497 shares of the real estate investment trust’s stock valued at $1,897,036,000 after buying an additional 362,749 shares during the period. Finally, Boston Partners increased its stake in shares of SL Green Realty Corporation by 12.8% in the first quarter. Boston Partners now owns 3,011,625 shares of the real estate investment trust’s stock valued at $321,099,000 after buying an additional 340,926 shares during the period.
About SL Green Realty Corporation
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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