SL Green Realty (NYSE:SLG) Price Target Raised to $51.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on SL Green Realty to $51.00 (from $49.00) while maintaining a "neutral" rating, implying roughly a 16.64% upside from the prior close.
• Analyst consensus remains a Hold with a mean price target of $51.15; broker views are mixed with 8 Buys, 9 Holds and 2 Sells.
• Shares traded up 4.1% to $43.72 on the day; SLG has a market cap of $3.12 billion, institutional ownership near 90%, and a debt-to-equity ratio of 1.19.

SL Green Realty (NYSE:SLG - Get Free Report) had its price target raised by analysts at JPMorgan Chase & Co. from $49.00 to $51.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 16.64% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. Mizuho set a $38.00 target price on SL Green Realty and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Raymond James Financial set a $44.00 target price on SL Green Realty in a research report on Tuesday, February 3rd. Evercore restated an "outperform" rating and set a $46.00 target price on shares of SL Green Realty in a research report on Friday, April 17th. Piper Sandler dropped their target price on SL Green Realty from $60.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of SL Green Realty in a research report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $51.15.

SL Green Realty Trading Up 4.1%

Shares of SLG stock traded up $1.73 on Tuesday, reaching $43.72. 833,219 shares of the stock were exchanged, compared to its average volume of 1,358,096. The stock has a market cap of $3.12 billion, a PE ratio of -17.42 and a beta of 1.60. SL Green Realty has a one year low of $34.77 and a one year high of $66.91. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.03 and a quick ratio of 2.66. The stock has a 50 day moving average price of $39.02 and a 200 day moving average price of $43.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new position in SL Green Realty in the third quarter valued at about $27,000. Salomon & Ludwin LLC acquired a new position in SL Green Realty in the third quarter valued at about $29,000. Whittier Trust Co. acquired a new position in SL Green Realty in the third quarter valued at about $29,000. Triumph Capital Management acquired a new position in SL Green Realty in the third quarter valued at about $45,000. Finally, Cornerstone Planning Group LLC grew its stake in SL Green Realty by 12,114.3% in the third quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust's stock valued at $51,000 after acquiring an additional 848 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

About SL Green Realty

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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