SL Green Realty (NYSE:SLG) Price Target Raised to $46.00

SL Green Realty (NYSE:SLG) had its target price raised by research analysts at LADENBURG THALM/SH SH from $42.00 to $46.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price objective indicates a potential downside of 5.15% from the company’s current price.

A number of other analysts have also recently weighed in on SLG. Scotiabank reaffirmed an “outperform” rating on shares of SL Green Realty in a research report on Thursday, May 21st. Truist Financial increased their target price on SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Morgan Stanley reduced their price target on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. JPMorgan Chase & Co. upped their price target on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Finally, Piper Sandler dropped their price objective on shares of SL Green Realty from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.75.

SL Green Realty Trading Down 3.5%

SLG stock traded down $1.77 during midday trading on Wednesday, reaching $48.50. 170,521 shares of the company’s stock traded hands, compared to its average volume of 1,286,951. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. SL Green Realty has a fifty-two week low of $34.77 and a fifty-two week high of $66.29. The business has a 50-day moving average price of $47.11 and a two-hundred day moving average price of $43.68. The company has a market capitalization of $3.46 billion, a P/E ratio of -19.36 and a beta of 1.58.

Institutional Trading of SL Green Realty

Institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management acquired a new position in SL Green Realty during the 3rd quarter worth $45,000. Davis Capital Management bought a new position in shares of SL Green Realty during the first quarter worth about $46,000. Fourth Dimension Wealth LLC grew its stake in SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 500 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 378 shares during the last quarter. Finally, Leonteq Securities AG raised its stake in SL Green Realty by 4,194.0% during the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 2,097 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Company Profile

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.