Evercore ISI Increases SL Green Realty (NYSE:SLG) Price Target to $49.00

SL Green Realty (NYSE:SLG) had its price target hoisted by research analysts at Evercore ISI from $47.00 to $49.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “underperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential downside of 11.78% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research report on Wednesday, May 8th. Morgan Stanley boosted their price objective on shares of SL Green Realty from $41.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. boosted their price objective on shares of SL Green Realty from $43.00 to $44.00 and gave the company an “underweight” rating in a report on Thursday, April 25th. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $35.00 to $48.00 in a report on Wednesday, March 27th. Finally, Citigroup boosted their price objective on shares of SL Green Realty from $31.00 to $37.00 and gave the company a “sell” rating in a report on Thursday, June 13th. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.62.

SL Green Realty Stock Up 1.0 %

Shares of NYSE:SLG opened at $55.54 on Monday. SL Green Realty has a one year low of $28.55 and a one year high of $58.54. The company has a 50 day moving average of $53.30 and a 200-day moving average of $49.87. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -6.72, a P/E/G ratio of 1.05 and a beta of 1.83.

Institutional Trading of SL Green Realty

A number of institutional investors have recently made changes to their positions in SLG. Deutsche Bank AG lifted its position in shares of SL Green Realty by 2,563.6% in the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after purchasing an additional 1,924,221 shares in the last quarter. Wellington Management Group LLP bought a new stake in SL Green Realty during the third quarter worth $38,666,000. Norges Bank bought a new stake in SL Green Realty during the fourth quarter worth $18,664,000. Prospect Financial Services LLC bought a new stake in SL Green Realty during the fourth quarter worth $12,373,000. Finally, Kettle Hill Capital Management LLC bought a new stake in SL Green Realty during the fourth quarter worth $11,832,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Company Profile

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.