SL Green Realty (NYSE:SLG) PT Raised to $47.00

SL Green Realty (NYSE:SLG) had its target price raised by research analysts at Evercore ISI from $46.00 to $47.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “underperform” rating on the real estate investment trust’s stock. Evercore ISI’s price objective indicates a potential downside of 10.38% from the company’s previous close.

SLG has been the subject of several other research reports. TheStreet raised shares of SL Green Realty from a “d+” rating to a “c-” rating in a research note on Wednesday, January 10th. Truist Financial cut shares of SL Green Realty from a “buy” rating to a “hold” rating and upped their price target for the company from $44.00 to $47.00 in a report on Tuesday, January 16th. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. Barclays raised shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $35.00 to $48.00 in a research report on Wednesday, March 27th. Finally, Scotiabank raised their price objective on shares of SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a report on Tuesday, April 2nd. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.25.

SL Green Realty Trading Up 3.3 %

NYSE SLG opened at $52.45 on Monday. The firm’s 50 day moving average price is $50.23 and its two-hundred day moving average price is $43.54. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -6.35, a PEG ratio of 1.34 and a beta of 1.71. SL Green Realty has a twelve month low of $20.51 and a twelve month high of $55.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.23 and a current ratio of 2.96.

Insider Transactions at SL Green Realty

In other news, Director Betsy S. Atkins sold 9,894 shares of SL Green Realty stock in a transaction on Friday, January 26th. The shares were sold at an average price of $47.25, for a total transaction of $467,491.50. Following the transaction, the director now directly owns 6,886 shares of the company’s stock, valued at $325,363.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of SL Green Realty stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Betsy S. Atkins sold 9,894 shares of SL Green Realty stock in a transaction on Friday, January 26th. The shares were sold at an average price of $47.25, for a total transaction of $467,491.50. Following the completion of the sale, the director now owns 6,886 shares in the company, valued at $325,363.50. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On SL Green Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLG. New Mexico Educational Retirement Board acquired a new position in shares of SL Green Realty during the 1st quarter worth about $793,000. Prospect Financial Services LLC boosted its holdings in shares of SL Green Realty by 1.2% during the 1st quarter. Prospect Financial Services LLC now owns 277,233 shares of the real estate investment trust’s stock worth $15,284,000 after buying an additional 3,311 shares during the period. Abundance Wealth Counselors boosted its holdings in shares of SL Green Realty by 29.8% during the 1st quarter. Abundance Wealth Counselors now owns 7,525 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 1,727 shares during the period. Monument Capital Management bought a new stake in shares of SL Green Realty during the 1st quarter worth about $323,000. Finally, Green Alpha Advisors LLC boosted its holdings in shares of SL Green Realty by 13.0% during the 1st quarter. Green Alpha Advisors LLC now owns 50,496 shares of the real estate investment trust’s stock worth $2,784,000 after buying an additional 5,820 shares during the period. 89.96% of the stock is currently 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.