SL Green Realty Corporation (NYSE:SLG)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a report issued on Tuesday, July 4th. They presently have a $127.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ target price indicates a potential upside of 23.00% from the stock’s current price.
A number of other equities analysts have also recently issued reports on SLG. Goldman Sachs Group, Inc. (The) assumed coverage on SL Green Realty Corporation in a report on Thursday, June 22nd. They issued a “buy” rating and a $121.00 target price on the stock. ValuEngine cut SL Green Realty Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Barclays PLC lifted their target price on SL Green Realty Corporation from $110.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Jefferies Group LLC restated a “hold” rating and issued a $113.00 target price on shares of SL Green Realty Corporation in a report on Thursday, April 20th. Finally, Morgan Stanley cut SL Green Realty Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $120.00 to $106.00 in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $116.38.
SL Green Realty Corporation (NYSE:SLG) traded up 0.43% during mid-day trading on Tuesday, reaching $103.25. The company’s stock had a trading volume of 580,949 shares. The firm has a 50 day moving average price of $104.44 and a 200-day moving average price of $106.44. The company has a market capitalization of $10.16 billion, a PE ratio of 106.12 and a beta of 1.18. SL Green Realty Corporation has a 1-year low of $93.90 and a 1-year high of $120.63.
SL Green Realty Corporation (NYSE:SLG) last issued its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by $1.54. SL Green Realty Corporation had a net margin of 7.20% and a return on equity of 1.43%. The firm had revenue of $279.41 million for the quarter, compared to analyst estimates of $281.40 million. On average, equities analysts predict that SL Green Realty Corporation will post $1.64 EPS for the current fiscal year.
In related news, Director John H. Alschuler, Jr. sold 6,000 shares of SL Green Realty Corporation stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $106.74, for a total transaction of $640,440.00. Following the completion of the sale, the director now owns 7,196 shares of the company’s stock, valued at $768,101.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.09% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL purchased a new stake in SL Green Realty Corporation during the first quarter worth about $203,000. Achmea Investment Management B.V. purchased a new stake in SL Green Realty Corporation during the first quarter worth about $224,000. OppenheimerFunds Inc. boosted its stake in SL Green Realty Corporation by 13.0% in the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 246 shares during the last quarter. Global X Management Co. LLC boosted its stake in SL Green Realty Corporation by 35.1% in the first quarter. Global X Management Co. LLC now owns 2,146 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 557 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in SL Green Realty Corporation during the first quarter worth about $232,000.
SL Green Realty Corporation Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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