SL Green Realty's (SLG) "Sell (D+)" Rating Reiterated at Weiss Ratings

Key Points

• SL Green Realty's stock has been given a "sell (D+)" rating by Weiss Ratings, with its target price fluctuating among different analysts, indicating mixed sentiment in the market.
• The company reported $1.58 earnings per share for the last quarter, beating estimates, but revenue fell short at $149.67 million compared to expectations of $170.27 million.
• Institutional investors hold 89.96% of SL Green Realty's stock, with recent actions including acquisitions from firms like Bessemer Group and Allworth Financial, reflecting ongoing interest despite the stock's unstable performance.

SL Green Realty (NYSE:SLG - Get Free Report)'s stock had its "sell (d+)" rating reissued by analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

A number of other equities research analysts also recently commented on the company. LADENBURG THALM/SH SH began coverage on SL Green Realty in a report on Monday, October 13th. They set a "neutral" rating and a $63.00 target price for the company. Bank of America decreased their target price on SL Green Realty from $64.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their target price on SL Green Realty from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. New Street Research set a $72.00 target price on SL Green Realty in a report on Thursday, October 9th. Finally, Evercore ISI decreased their target price on SL Green Realty from $72.00 to $63.00 and set an "outperform" rating for the company in a report on Monday, October 20th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $64.67.

SL Green Realty Price Performance

Shares of SLG stock opened at $51.88 on Friday. SL Green Realty has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 5,192.99 and a beta of 1.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.72 and a current ratio of 3.22. The stock's 50-day simple moving average is $58.13 and its 200-day simple moving average is $58.04.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.24. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The business had revenue of $149.67 million for the quarter, compared to analyst estimates of $170.27 million. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The company's revenue was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.04% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new position in shares of SL Green Realty during the 3rd quarter worth approximately $29,000. Bessemer Group Inc. raised its stake in shares of SL Green Realty by 67.8% during the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust's stock worth $38,000 after buying an additional 253 shares during the period. MAI Capital Management raised its stake in shares of SL Green Realty by 25.9% during the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust's stock worth $61,000 after buying an additional 203 shares during the period. Allworth Financial LP raised its stake in shares of SL Green Realty by 2,432.8% during the 2nd quarter. Allworth Financial LP now owns 1,697 shares of the real estate investment trust's stock worth $105,000 after buying an additional 1,630 shares during the period. Finally, State of Wyoming acquired a new position in shares of SL Green Realty during the 1st quarter worth approximately $172,000. 89.96% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.