SL Green Realty (NYSE:SLG) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded SL Green Realty from a “strong sell” to a “sell,” but the stock still carries a cautious overall analyst tone.
• Across recent analyst reports, SLG has a mixed rating profile: 7 Buy ratings, 10 Hold ratings, and 2 Sell ratings, with a consensus target price of $54.75.
• SL Green Realty reported better-than-expected quarterly EPS of -$0.38 versus an estimated -$0.59, while revenue rose 16.5% year over year to $171.85 million.

SL Green Realty (NYSE:SLG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other analysts have also recently issued reports on the stock. Citigroup reissued a "buy" rating and set a $60.00 price target (up from $45.00) on shares of SL Green Realty in a research report on Friday. Wells Fargo & Company lifted their price objective on shares of SL Green Realty from $40.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. JPMorgan Chase & Co. upped their target price on shares of SL Green Realty from $49.00 to $51.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Truist Financial increased their target price on shares of SL Green Realty from $44.00 to $46.00 and gave the stock a "hold" rating in a report on Wednesday, April 22nd. Finally, Evercore cut shares of SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 price target for the company. in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $54.75.

SL Green Realty Trading Up 1.9%

Shares of NYSE SLG opened at $54.62 on Friday. The company has a current ratio of 3.10, a quick ratio of 3.03 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $3.90 billion, a PE ratio of -20.01 and a beta of 1.58. SL Green Realty has a twelve month low of $34.77 and a twelve month high of $66.29. The stock has a fifty day simple moving average of $48.91 and a 200-day simple moving average of $44.15.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.43% and a negative net margin of 16.92%.The firm had revenue of $171.85 million for the quarter, compared to analyst estimates of $179.01 million. During the same quarter in the prior year, the company earned $1.63 EPS. SL Green Realty's revenue was up 16.5% on a year-over-year basis. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. On average, equities analysts forecast that SL Green Realty will post 4.53 earnings per share for the current year.

Institutional Trading of SL Green Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of SLG. Cohen & Steers Inc. purchased a new position in shares of SL Green Realty in the 4th quarter valued at about $121,675,000. Goldman Sachs Group Inc. lifted its stake in SL Green Realty by 62.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust's stock worth $133,862,000 after purchasing an additional 1,117,357 shares during the last quarter. Norges Bank acquired a new position in SL Green Realty in the fourth quarter valued at approximately $44,094,000. M&T Bank Corp purchased a new position in SL Green Realty in the fourth quarter valued at approximately $43,201,000. Finally, Victory Capital Management Inc. raised its holdings in SL Green Realty by 535.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,107,618 shares of the real estate investment trust's stock worth $50,806,000 after purchasing an additional 933,272 shares in the last quarter. 89.96% of the stock is currently 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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