SL Green Realty (NYSE:SLG) Price Target Cut to $69.00 by Analysts at Jefferies Financial Group

SL Green Realty (NYSE:SLG) had its target price lowered by equities research analysts at Jefferies Financial Group from $75.00 to $69.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price points to a potential upside of 1.35% from the stock’s previous close.

Several other research analysts have also weighed in on SLG. Piper Sandler reiterated an “overweight” rating and set a $90.00 target price (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $44.00 to $66.00 in a research report on Friday, September 13th. Morgan Stanley raised their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, Scotiabank raised their price objective on shares of SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $68.47.

SL Green Realty Price Performance

SL Green Realty stock opened at $68.08 on Thursday. The firm has a market capitalization of $4.49 billion, a P/E ratio of -27.23, a PEG ratio of 4.26 and a beta of 1.82. The business has a 50-day moving average of $74.46 and a 200-day moving average of $68.20. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty has a 1 year low of $41.81 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). The firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the previous year, the company posted $1.27 EPS. On average, equities analysts anticipate that SL Green Realty will post 7.82 EPS for the current year.

Hedge Funds Weigh In On SL Green Realty

Institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $29,000. Point72 DIFC Ltd bought a new position in shares of SL Green Realty during the third quarter worth approximately $35,000. Friedenthal Financial acquired a new stake in SL Green Realty during the 3rd quarter worth approximately $49,000. Finally, Rothschild Investment LLC bought a new stake in SL Green Realty in the 2nd quarter valued at $55,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.