SL Green Realty (NYSE:SLG) Given New $55.00 Price Target at Morgan Stanley

SL Green Realty (NYSE:SLG - Get Free Report) had its price target increased by research analysts at Morgan Stanley from $52.00 to $55.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price objective would suggest a potential downside of 2.95% from the stock's current price.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial raised their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, January 27th. Mizuho boosted their price objective on SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Wells Fargo & Company dropped their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Compass Point raised their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Finally, Scotiabank reduced their target price on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $71.00.

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SL Green Realty Price Performance

NYSE:SLG traded up $1.09 during trading hours on Wednesday, reaching $56.67. 914,339 shares of the company were exchanged, compared to its average volume of 852,082. SL Green Realty has a 1-year low of $47.22 and a 1-year high of $82.81. The business has a 50 day moving average of $64.22 and a 200 day moving average of $69.39. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. 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 (NYSE:SLG - Get Free Report) last announced its quarterly earnings data 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 EPS for the current year.

Insider Activity

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the 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 owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SL Green Realty

A number of institutional investors have recently modified their holdings of SLG. Venturi Wealth Management LLC raised its holdings in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after buying an additional 272 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of SL Green Realty in the 3rd quarter worth about $35,000. Jones Financial Companies Lllp bought a new position in SL Green Realty in the 4th quarter valued at about $39,000. Quadrant Capital Group LLC lifted its stake in SL Green Realty by 37.4% during the 4th quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 208 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in 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 last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.