SL Green Realty (NYSE:SLG) Price Target Increased to $47.00 by Analysts at Morgan Stanley

SL Green Realty (NYSE:SLG - Get Free Report) had its price target upped by analysts at Morgan Stanley from $41.00 to $47.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Morgan Stanley's price objective would indicate a potential downside of 14.75% from the company's previous close.

Several other analysts have also issued reports on SLG. Barclays raised SL Green Realty from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $35.00 to $48.00 in a research note on Wednesday. StockNews.com raised SL Green Realty to a "sell" rating in a research note on Saturday, February 3rd. Truist Financial lowered SL Green Realty from a "buy" rating to a "hold" rating and increased their price objective for the company from $44.00 to $47.00 in a research note on Tuesday, January 16th. BMO Capital Markets upped their target price on SL Green Realty from $34.00 to $44.00 and gave the company a "market perform" rating in a report on Tuesday, December 5th. Finally, TheStreet upgraded SL Green Realty from a "d+" rating to a "c-" rating in a report on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and an average target price of $46.09.

SL Green Realty Price Performance

SLG traded up $1.39 during midday trading on Thursday, hitting $55.13. The stock had a trading volume of 1,671,017 shares, compared to its average volume of 1,334,240. The company has a market cap of $3.57 billion, a P/E ratio of -6.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The business has a fifty day moving average of $48.00 and a 200 day moving average of $41.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.23 and a current ratio of 2.23. SL Green Realty has a 1 year low of $20.51 and a 1 year high of $55.75.

Insider Buying and Selling at SL Green Realty

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA purchased a new position in SL Green Realty in the 4th quarter worth approximately $33,000. Financial Gravity Asset Management Inc. lifted its holdings in SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 922 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in SL Green Realty by 92.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,553 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 747 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of SL Green Realty during the 4th quarter worth approximately $95,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of SL Green Realty during the 3rd quarter worth approximately $88,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.