SL Green Realty (NYSE:SLG - Get Free Report) had its price target boosted by JPMorgan Chase & Co. from $43.00 to $44.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an "underweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 13.52% from the stock's current price.
Several other research analysts have also weighed in on the stock. StockNews.com upgraded shares of SL Green Realty to a "sell" rating in a research note on Saturday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of SL Green Realty in a research note on Tuesday, January 30th. They issued a "hold" rating and a $50.00 price objective on the stock. BMO Capital Markets upgraded shares of SL Green Realty from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $56.00 to $58.00 in a research note on Thursday, April 18th. Scotiabank upped their price objective on shares of SL Green Realty from $40.00 to $43.00 and gave the company a "sector underperform" rating in a research note on Tuesday, April 2nd. Finally, Barclays upgraded shares of SL Green Realty from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $47.00.
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SL Green Realty Trading Down 2.5 %
Shares of SLG stock traded down $1.28 during trading hours on Thursday, reaching $50.88. 1,160,832 shares of the stock traded hands, compared to its average volume of 1,307,811. SL Green Realty has a 1-year low of $20.51 and a 1-year high of $55.75. The business has a fifty day moving average price of $50.40 and a 200 day moving average price of $43.60. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $3.35 billion, a PE ratio of -6.07, a PEG ratio of 1.42 and a beta of 1.71.
Insider Buying and Selling
In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the firm's 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other SL Green Realty news, Director Carol N. Brown sold 5,118 shares of the firm's 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Betsy S. Atkins sold 9,894 shares of the firm's stock in a transaction 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 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 Trading of SL Green Realty
Institutional investors have recently made changes to their positions in the business. Phocas Financial Corp. bought a new position in SL Green Realty during the 4th quarter valued at about $3,425,000. Wellington Management Group LLP bought a new position in SL Green Realty during the 3rd quarter valued at about $38,666,000. Cyndeo Wealth Partners LLC bought a new position in SL Green Realty during the 4th quarter valued at about $4,593,000. Raymond James Financial Services Advisors Inc. bought a new position in SL Green Realty during the 4th quarter valued at about $491,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $37,080,000 after purchasing an additional 26,465 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.
About SL Green Realty
(
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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.
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