SL Green Realty (NYSE:SLG) Earns Neutral Rating from Analysts at LADENBURG THALM/SH SH

Key Points

• Analysts at LADENBURG THALM/SH SH initiated coverage of SL Green Realty with a "neutral" rating and a price target of $62.00, indicating a potential upside of 12.30% from the recent close.
• Multiple firms have updated their price targets for SL Green Realty, with estimates ranging from $54.00 to $72.00, alongside a consensus rating of "Hold" among analysts.
• SL Green Realty reported quarterly earnings, exceeding analyst expectations with an EPS of $1.63 but recorded a revenue shortfall of $147.54 million against estimates of $171.24 million.

Equities researchers at LADENBURG THALM/SH SH assumed coverage on shares of SL Green Realty (NYSE:SLG - Get Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $63.00 price target on the real estate investment trust's stock. LADENBURG THALM/SH SH's price target indicates a potential upside of 12.71% from the company's current price.

A number of other brokerages have also commented on SLG. Truist Financial raised their target price on shares of SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research report on Friday, July 18th. Citigroup raised shares of SL Green Realty from a "neutral" rating to a "buy" rating and raised their target price for the stock from $65.00 to $70.00 in a research report on Friday, September 12th. New Street Research set a $72.00 target price on shares of SL Green Realty in a research report on Thursday. Jefferies Financial Group raised shares of SL Green Realty from a "neutral" rating to a "buy" rating and raised their target price for the stock from $57.00 to $63.00 in a research report on Monday. Finally, Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price objective on the stock in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $67.88.

SL Green Realty Stock Performance

Shares of NYSE:SLG traded up $0.73 during midday trading on Monday, hitting $55.90. The company had a trading volume of 35,433 shares, compared to its average volume of 917,904. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -103.44 and a beta of 1.77. SL Green Realty has a 12-month low of $45.15 and a 12-month high of $82.81. The company has a fifty day moving average of $58.30 and a two-hundred day moving average of $58.13.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The firm had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. During the same period in the prior year, the business posted $2.05 EPS. SL Green Realty's revenue was up 8.6% on a year-over-year basis. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, equities research analysts expect that SL Green Realty will post 5.43 EPS for the current fiscal year.

Insider Transactions at SL Green Realty

In related news, Director Carol N. Brown sold 937 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.04% of the company's stock.

Institutional Trading of SL Green Realty

Several hedge funds have recently made changes to their positions in SLG. Envestnet Portfolio Solutions Inc. grew its stake in shares of SL Green Realty by 13.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust's stock valued at $224,000 after buying an additional 466 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of SL Green Realty by 6.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust's stock worth $389,000 after acquiring an additional 384 shares during the last quarter. Fourth Dimension Wealth LLC lifted its holdings in shares of SL Green Realty by 54.5% in the 1st quarter. Fourth Dimension Wealth LLC now owns 1,700 shares of the real estate investment trust's stock worth $98,000 after acquiring an additional 600 shares during the last quarter. KBC Group NV lifted its holdings in shares of SL Green Realty by 20.9% in the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock worth $193,000 after acquiring an additional 577 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of SL Green Realty in the 1st quarter worth approximately $601,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

About SL Green Realty

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.