SL Green Realty (NYSE:SLG) Now Covered by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of SL Green Realty (NYSE:SLG) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set a “hold” rating and a $58.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target suggests a potential upside of 2.34% from the company’s current price.

Other analysts have also issued reports about the company. Bank of America lowered their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Morgan Stanley upped their target price on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Barclays lowered their price target on shares of SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Mizuho upped their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Scotiabank lowered their target price on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $69.87.

SL Green Realty Trading Up 2.0 %

Shares of SLG stock opened at $56.67 on Monday. The company has a market capitalization of $4.04 billion, a P/E ratio of 708.40, a P/E/G ratio of 5.30 and a beta of 1.82. SL Green Realty has a 12-month low of $47.22 and a 12-month high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $63.99 and a 200 day moving average price of $69.36.

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

Insider Activity

In related news, Director Craig M. Hatkoff sold 3,455 shares of the 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 completion of the transaction, the director now directly owns 2,052 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.08% of the company’s stock.

Hedge Funds Weigh In On SL Green Realty

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of SL Green Realty by 50.5% in the third quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after purchasing an additional 977,321 shares in the last quarter. Norges Bank acquired a new position in shares of SL Green Realty during the 4th quarter worth about $48,050,000. Northern Trust Corp grew its holdings in shares of SL Green Realty by 79.9% in the 4th quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust’s stock valued at $97,101,000 after acquiring an additional 634,788 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SL Green Realty by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock valued at $735,594,000 after acquiring an additional 564,822 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in SL Green Realty during the fourth quarter worth about $29,000,000. Institutional investors and hedge funds 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.