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

Key Points

• Mizuho raised its price target on SL Green Realty from $38 to $46 while keeping a neutral rating, implying about 9.28% downside from the current share price.
• Other analysts remain mixed: SL Green now has a consensus Hold rating, with an average price target of $51.60 and several firms recently adjusting their views and targets.
• The stock was trading at $50.70, with a 52-week range of $34.77 to $66.29; institutional investors hold 89.96% of the company’s shares.

SL Green Realty (NYSE:SLG - Get Free Report) had its price objective boosted by equities researchers at Mizuho from $38.00 to $46.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Mizuho's target price would indicate a potential downside of 9.28% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Barclays set a $52.00 price objective on SL Green Realty in a research report on Tuesday. Evercore lowered SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 price target for the company. in a research note on Monday, July 6th. Piper Sandler reiterated an "overweight" rating on shares of SL Green Realty in a report on Tuesday. Citigroup lowered their target price on SL Green Realty from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, March 24th. Finally, Weiss Ratings raised shares of SL Green Realty from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and an average price target of $51.60.

SL Green Realty Stock Performance

NYSE:SLG opened at $50.70 on Tuesday. SL Green Realty has a 52-week low of $34.77 and a 52-week high of $66.29. The business's fifty day moving average is $48.17 and its 200 day moving average is $43.96. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -20.20 and a beta of 1.58.

Hedge Funds Weigh In On SL Green Realty

Institutional investors have recently made changes to their positions in the business. Triumph Capital Management bought a new stake in SL Green Realty during the third quarter valued at approximately $45,000. Davis Capital Management bought a new position in SL Green Realty in the first quarter worth approximately $46,000. Fourth Dimension Wealth LLC boosted its stake in shares of SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust's stock worth $73,000 after acquiring an additional 500 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock valued at $74,000 after acquiring an additional 378 shares during the period. Finally, Leonteq Securities AG grew its position in shares of SL Green Realty by 4,194.0% during the 1st quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 2,097 shares during the period. Institutional investors own 89.96% of the company's stock.

SL Green Realty Company Profile

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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