SL Green Realty (NYSE:SLG) Given a $71.00 Price Target by Scotiabank Analysts

SL Green Realty (NYSE:SLG - Get Free Report) has been given a $71.00 price objective by equities researchers at Scotiabank in a report released on Monday, Marketbeat.com reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's target price suggests a potential upside of 11.67% from the company's current price.

A number of other analysts have also weighed in on SLG. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. Barclays cut their price objective on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Wells Fargo & Company cut their target price on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty currently has an average rating of "Hold" and an average price target of $65.33.

SL Green Realty Price Performance

Shares of SLG stock traded down $0.36 during trading hours on Monday, reaching $63.58. The company's stock had a trading volume of 1,160,307 shares, compared to its average volume of 904,230. SL Green Realty has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm's 50 day simple moving average is $60.37 and its 200-day simple moving average is $60.34. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of -151.38 and a beta of 1.65.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.13. The business had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. SL Green Realty had a negative return on equity of 0.98% and a negative net margin of 1.30%. Sell-side analysts forecast that SL Green Realty will post 5.43 earnings per share for the current year.

Institutional Investors Weigh In On SL Green Realty

A number of large investors have recently bought and sold shares of SLG. Vanguard Group Inc. lifted its holdings in shares of SL Green Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust's stock worth $641,238,000 after purchasing an additional 283,009 shares in the last quarter. Geode Capital Management LLC raised its holdings in SL Green Realty by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 1,751,709 shares of the real estate investment trust's stock worth $119,001,000 after buying an additional 110,594 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of SL Green Realty by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust's stock valued at $97,851,000 after buying an additional 130,206 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of SL Green Realty by 3.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock valued at $111,179,000 after buying an additional 46,988 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SL Green Realty by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust's stock worth $89,722,000 after acquiring an additional 126,969 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.