SL Green Realty (NYSE:SLG) Price Target Cut to $75.00 by Analysts at Scotiabank

SL Green Realty (NYSE:SLG - Get Free Report) had its price target reduced by stock analysts at Scotiabank from $81.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price objective points to a potential upside of 21.67% from the company's previous close.

Several other equities research analysts have also recently weighed in on SLG. 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 research report on Tuesday, January 28th. Truist Financial upped their price target on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, January 27th. Compass Point upped their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Mizuho upped their price target 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. Finally, JPMorgan Chase & Co. raised shares of SL Green Realty from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $70.67.

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SL Green Realty Trading Down 1.8 %

NYSE:SLG traded down $1.14 during mid-day trading on Friday, hitting $61.64. 981,234 shares of the stock traded hands, compared to its average volume of 859,100. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 770.55, a PEG ratio of 5.30 and a beta of 1.82. SL Green Realty has a 52 week low of $47.22 and a 52 week high of $82.81. The firm's 50 day moving average is $65.40 and its two-hundred day moving average is $69.72. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating 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%. On average, equities research 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 company's stock in a transaction that occurred on Friday, January 24th. The shares were 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 in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SLG. Blue Trust Inc. increased its stake in SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 632 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of SL Green Realty by 6,861.0% in the third quarter. International Assets Investment Management LLC now owns 14,618 shares of the real estate investment trust's stock worth $1,018,000 after acquiring an additional 14,408 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of SL Green Realty by 33.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,565 shares of the real estate investment trust's stock worth $178,000 after acquiring an additional 649 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust's stock worth $262,000 after acquiring an additional 148 shares during the period. Finally, abrdn plc increased its stake in shares of SL Green Realty by 7.5% in the third quarter. abrdn plc now owns 12,891 shares of the real estate investment trust's stock worth $897,000 after acquiring an additional 894 shares during the period. 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.