Morgan Stanley Issues Positive Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG - Get Free Report) had its target price lifted by equities research analysts at Morgan Stanley from $52.00 to $55.00 in a research note issued to investors 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 would suggest a potential downside of 1.00% from the stock's current price.

Other analysts also recently issued research reports about the company. Barclays dropped their price target on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Bank of America dropped their target price on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Scotiabank cut their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. raised shares of SL Green Realty from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Finally, Mizuho boosted their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $71.00.

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SL Green Realty Trading Down 3.5 %

Shares of NYSE:SLG traded down $2.03 during trading on Wednesday, hitting $55.56. 1,257,699 shares of the company's stock were exchanged, compared to its average volume of 851,875. SL Green Realty has a 1-year low of $47.22 and a 1-year high of $82.81. The firm has a market cap of $3.96 billion, a P/E ratio of 694.44, a PEG ratio of 5.30 and a beta of 1.82. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $64.22 and a two-hundred day moving average price of $69.39.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping the consensus estimate 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%. Equities analysts predict that SL Green Realty will post 5.43 earnings per share for the current year.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the transaction, the director now directly owns 2,052 shares of the company's stock, valued at approximately $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.08% of the company's stock.

Institutional Investors Weigh In On SL Green Realty

Several hedge funds and other institutional investors have recently made changes to their positions in SLG. Venturi Wealth Management LLC increased its position in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 272 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in SL Green Realty during the third quarter worth about $35,000. Jones Financial Companies Lllp purchased a new position in SL Green Realty in the fourth quarter valued at about $39,000. Quadrant Capital Group LLC lifted its stake 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 valued at $52,000 after purchasing an additional 208 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of SL Green Realty by 17.7% during the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 157 shares during the period. 89.96% of the stock is owned by 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.