SL Green Realty (NYSE:SLG) Rating Increased to Sell at StockNews.com

SL Green Realty (NYSE:SLG - Get Free Report) was upgraded by equities research analysts at StockNews.com to a "sell" rating in a report issued on Wednesday.

Several other research firms have also weighed in on SLG. Piper Sandler reiterated an "overweight" rating and issued a $58.00 target price on shares of SL Green Realty in a report on Tuesday, March 26th. Barclays upgraded SL Green Realty from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $35.00 to $48.00 in a report on Wednesday, March 27th. Scotiabank raised their price target on SL Green Realty from $40.00 to $43.00 and gave the stock a "sector underperform" rating in a research report on Tuesday, April 2nd. Evercore ISI increased their target price on SL Green Realty from $46.00 to $47.00 and gave the stock an "underperform" rating in a research note on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft began 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 for the company. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Trading Down 0.7 %

Shares of SL Green Realty stock traded down $0.36 during trading on Wednesday, hitting $50.93. 584,680 shares of the company were exchanged, compared to its average volume of 1,261,304. The firm has a market capitalization of $3.35 billion, a P/E ratio of -6.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.72. The firm's fifty day moving average price is $51.32 and its 200 day moving average price is $44.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.23. 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 firm's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SL Green Realty

Large investors have recently made changes to their positions in the company. Private Trust Co. NA bought a new position in SL Green Realty during the 4th quarter worth $33,000. Financial Gravity Asset Management Inc. increased its position in SL Green Realty by 3,073.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 922 shares during the period. Fidelis Capital Partners LLC acquired a new stake in SL Green Realty in the 1st quarter worth about $55,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of SL Green Realty during the 3rd quarter worth approximately $88,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of SL Green Realty by 122.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,732 shares of the real estate investment trust's stock worth $102,000 after purchasing an additional 1,502 shares during the period. Institutional investors own 89.96% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.