Jefferies Financial Group Cuts SL Green Realty (NYSE:SLG) Price Target to $69.00

SL Green Realty (NYSE:SLG - Get Free Report) had its price target decreased by equities research analysts at Jefferies Financial Group from $75.00 to $69.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the real estate investment trust's stock. Jefferies Financial Group's target price suggests a potential upside of 0.91% from the company's current price.

Several other analysts also recently issued reports on SLG. JPMorgan Chase & Co. raised shares of SL Green Realty from an "underweight" rating to a "neutral" rating and upped their price target for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Piper Sandler reaffirmed an "overweight" rating and set a $90.00 price target (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Evercore ISI lifted their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an "in-line" rating in a report on Monday, October 21st. Finally, Compass Point upped their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and a consensus target price of $68.47.

SL Green Realty Stock Performance

Shares of SLG stock traded up $0.46 during trading hours on Thursday, hitting $68.38. The stock had a trading volume of 740,661 shares, compared to its average volume of 985,227. The stock's 50 day moving average is $74.63 and its 200 day moving average is $68.13. The firm has a market capitalization of $4.51 billion, a PE ratio of -27.35, a PEG ratio of 4.26 and a beta of 1.81. SL Green Realty has a twelve month low of $41.81 and a twelve month high of $82.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($1.42). The firm had revenue of $229.69 million during the quarter, compared to analysts' expectations of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the previous year, the firm earned $1.27 EPS. As a group, research analysts forecast that SL Green Realty will post 7.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SL Green Realty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of SL Green Realty during the second quarter worth about $29,000. Rothschild Investment LLC acquired a new stake in shares of SL Green Realty in the second quarter valued at approximately $55,000. Commonwealth Equity Services LLC raised its holdings in shares of SL Green Realty by 2.8% during the second quarter. Commonwealth Equity Services LLC now owns 29,770 shares of the real estate investment trust's stock valued at $1,686,000 after buying an additional 799 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of SL Green Realty by 10.9% during the second quarter. Natixis Advisors LLC now owns 21,764 shares of the real estate investment trust's stock worth $1,233,000 after buying an additional 2,145 shares during the period. Finally, Rhumbline Advisers grew its holdings in SL Green Realty by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust's stock worth $13,302,000 after buying an additional 3,255 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

About SL Green Realty

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.