SL Green Realty (NYSE:SLG) Price Target Cut to $72.00 by Analysts at Piper Sandler

SL Green Realty (NYSE:SLG - Get Free Report) had its target price cut by equities research analysts at Piper Sandler from $90.00 to $72.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's target price indicates a potential upside of 32.43% from the stock's previous close.

Several other analysts also recently issued reports on the stock. Bank of America lowered their price objective on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Scotiabank dropped their price target on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company cut their price target on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Barclays reduced their target price on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Finally, Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price target for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $68.13.

SL Green Realty Stock Down 0.2 %

Shares of NYSE:SLG traded down $0.11 during midday trading on Monday, hitting $54.37. 678,043 shares of the company's stock traded hands, compared to its average volume of 850,779. SL Green Realty has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a market cap of $3.88 billion, a PE ratio of 679.63, a P/E/G ratio of 5.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The firm's fifty day moving average price is $56.93 and its two-hundred day moving average price is $66.30.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The company had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. On average, equities research analysts anticipate that SL Green Realty will post 5.43 EPS for the current fiscal year.

Hedge Funds Weigh In On SL Green Realty

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after buying an additional 157 shares during the period. MML Investors Services LLC boosted its position in SL Green Realty by 2.7% during the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust's stock worth $427,000 after acquiring an additional 161 shares during the period. Norinchukin Bank The grew its stake in shares of SL Green Realty by 6.6% in the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock worth $212,000 after purchasing an additional 192 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust's stock valued at $285,000 after purchasing an additional 203 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 208 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.