SL Green Realty (NYSE:SLG – Get Free Report) had its price target upped by research analysts at Truist Financial from $61.00 to $62.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential downside of 3.36% from the company’s previous close.
Several other equities research analysts have also recently weighed in on SLG. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Jefferies Financial Group lowered their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Compass Point upped their target price on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Mizuho lifted their target price on SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $69.38.
Check Out Our Latest Analysis on SL Green Realty
SL Green Realty Price Performance
SL Green Realty (NYSE:SLG – Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.11% and a net margin of 2.48%. Sell-side analysts predict that SL Green Realty will post 5.43 earnings per share for the current year.
Insider Activity
In other news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at $136,047.60. This represents a 62.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.08% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of SL Green Realty during the 4th quarter worth approximately $452,000. Advisors Preferred LLC increased its position in shares of SL Green Realty by 58.2% during the fourth quarter. Advisors Preferred LLC now owns 54,459 shares of the real estate investment trust’s stock valued at $3,724,000 after acquiring an additional 20,037 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in SL Green Realty by 28.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,928 shares of the real estate investment trust’s stock worth $1,014,000 after acquiring an additional 3,285 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in SL Green Realty by 8.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust’s stock worth $5,187,000 after purchasing an additional 6,158 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in SL Green Realty by 8.7% in the 4th quarter. State of Alaska Department of Revenue now owns 73,919 shares of the real estate investment trust’s stock valued at $5,019,000 after purchasing an additional 5,928 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.
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.
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