SL Green Realty Corp (NYSE:SLG) Receives $93.49 Average Price Target from Brokerages

SL Green Realty Corp (NYSE:SLG) has received an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $93.49.

SLG has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of SL Green Realty from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Wednesday, September 11th. SunTrust Banks cut their target price on shares of SL Green Realty to $100.00 and set a “buy” rating on the stock in a report on Monday, October 21st. They noted that the move was a valuation call. Stifel Nicolaus cut shares of SL Green Realty from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a report on Monday, September 30th. Scotiabank cut shares of SL Green Realty from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $96.00 to $84.00 in a report on Friday, August 16th. Finally, Goldman Sachs Group initiated coverage on shares of SL Green Realty in a report on Friday, November 8th. They issued a “buy” rating and a $96.00 target price on the stock.

NYSE SLG traded down $0.04 on Friday, reaching $85.95. 350,685 shares of the company’s stock traded hands, compared to its average volume of 666,029. SL Green Realty has a 12 month low of $75.46 and a 12 month high of $97.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a 50-day simple moving average of $82.63 and a 200 day simple moving average of $82.64. The stock has a market cap of $6.86 billion, a PE ratio of 12.98, a P/E/G ratio of 3.16 and a beta of 1.06.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.33). SL Green Realty had a return on equity of 3.18% and a net margin of 15.37%. The firm had revenue of $248.03 million during the quarter, compared to the consensus estimate of $243.02 million. During the same quarter in the prior year, the business posted $1.69 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts anticipate that SL Green Realty will post 6.95 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its holdings in SL Green Realty by 1.7% in the second quarter. Meeder Asset Management Inc. now owns 8,612 shares of the real estate investment trust’s stock valued at $691,000 after acquiring an additional 145 shares in the last quarter. 6 Meridian boosted its holdings in SL Green Realty by 2.8% in the second quarter. 6 Meridian now owns 5,515 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 149 shares in the last quarter. World Asset Management Inc boosted its holdings in SL Green Realty by 2.6% in the third quarter. World Asset Management Inc now owns 6,829 shares of the real estate investment trust’s stock valued at $558,000 after acquiring an additional 170 shares in the last quarter. CSat Investment Advisory L.P. boosted its holdings in SL Green Realty by 40.4% in the second quarter. CSat Investment Advisory L.P. now owns 594 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 171 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in SL Green Realty by 3.8% in the second quarter. IFM Investors Pty Ltd now owns 5,390 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

About SL Green Realty

SL Green Realty Corp., an S&P 500 company and New York City'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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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