SL Green Realty (NYSE:SLG) PT Raised to $43.00

SL Green Realty (NYSE:SLG - Get Free Report) had its price target lifted by Scotiabank from $40.00 to $43.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "sector underperform" rating on the real estate investment trust's stock. Scotiabank's price target would suggest a potential downside of 16.33% from the company's current price.

Several other equities analysts have also issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $58.00 price objective on shares of SL Green Realty in a report on Tuesday, March 26th. TheStreet raised shares of SL Green Realty from a "d+" rating to a "c-" rating in a report on Wednesday, January 10th. BMO Capital Markets lifted their price target on shares of SL Green Realty from $34.00 to $44.00 and gave the stock a "market perform" rating in a report on Tuesday, December 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SL Green Realty in a report on Tuesday, January 30th. They issued a "hold" rating and a $50.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of SL Green Realty from $30.00 to $36.00 and gave the stock a "sell" rating in a report on Thursday, January 11th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.83.

SL Green Realty Stock Down 2.9 %

SLG stock traded down $1.54 during trading on Tuesday, hitting $51.39. 889,641 shares of the company's stock traded hands, compared to its average volume of 1,321,532. The firm has a market capitalization of $3.33 billion, a P/E ratio of -5.65, a PEG ratio of 1.85 and a beta of 1.71. The business has a fifty day simple moving average of $48.44 and a two-hundred day simple moving average of $42.03. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.93. SL Green Realty has a 1 year low of $20.51 and a 1 year high of $55.75.

Insider Transactions at SL Green Realty

In other news, Director Carol N. Brown sold 5,118 shares of the company'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 sale was disclosed in a document filed with the SEC, which is available through this link. 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 completion of the sale, the director now directly owns 6,886 shares of the company's stock, valued at approximately $325,363.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carol N. Brown sold 5,118 shares of SL Green Realty stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The disclosure for this sale can be found here. Company insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On SL Green Realty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in SL Green Realty during the 3rd quarter worth $38,666,000. Cyndeo Wealth Partners LLC acquired a new stake in SL Green Realty during the 4th quarter worth $4,593,000. Charles Schwab Investment Management Inc. raised its stake in SL Green Realty by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,094 shares of the real estate investment trust's stock worth $37,080,000 after acquiring an additional 26,465 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in SL Green Realty by 893.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 52,959 shares of the real estate investment trust's stock worth $1,926,000 after acquiring an additional 47,630 shares in the last quarter. Finally, Hosking Partners LLP raised its stake in SL Green Realty by 10.1% during the 3rd quarter. Hosking Partners LLP now owns 335,931 shares of the real estate investment trust's stock worth $12,530,000 after acquiring an additional 30,783 shares in the last quarter. 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.