Morgan Stanley Boosts SL Green Realty (NYSE:SLG) Price Target to $55.00

SL Green Realty (NYSE:SLG) had its price objective hoisted by stock analysts at Morgan Stanley from $52.00 to $55.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target suggests a potential downside of 4.50% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on SLG. Compass Point upped their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $51.00 to $80.00 in a research note on Tuesday, December 10th. Jefferies Financial Group lowered their target price on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Truist Financial upped their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, January 27th. Finally, Mizuho lifted their price objective on SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.00.

SL Green Realty Trading Down 3.4 %

Shares of SLG stock opened at $57.59 on Wednesday. SL Green Realty has a fifty-two week low of $47.22 and a fifty-two week high of $82.81. The firm has a market capitalization of $4.11 billion, a P/E ratio of 719.91, a PEG ratio of 5.30 and a beta of 1.82. The stock’s fifty day moving average is $64.68 and its two-hundred day moving average is $69.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. Research analysts expect that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the transaction, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 157 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 161 shares during the period. Norinchukin Bank The boosted its stake in shares of SL Green Realty by 6.6% in the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 192 shares in the last quarter. GAMMA Investing LLC grew its holdings in SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock worth $285,000 after acquiring an additional 203 shares during the period. Finally, Quadrant Capital Group LLC raised its position in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 208 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.