SL Green Realty Corporation (NYSE:SLG) had its price objective decreased by investment analysts at Barclays PLC from $111.00 to $110.00 in a note issued to investors on Tuesday, July 18th. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays PLC’s target price indicates a potential upside of 7.22% from the company’s current price.
A number of other research firms have also weighed in on SLG. TheStreet lowered shares of SL Green Realty Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, April 19th. BidaskClub raised shares of SL Green Realty Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Morgan Stanley downgraded shares of SL Green Realty Corporation from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $120.00 to $106.00 in a report on Tuesday, June 13th. Jefferies Group LLC reissued a “hold” rating and issued a $113.00 price target on shares of SL Green Realty Corporation in a report on Thursday, April 20th. Finally, ValuEngine downgraded shares of SL Green Realty Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $117.62.
Shares of SL Green Realty Corporation (SLG) opened at 102.59 on Tuesday. SL Green Realty Corporation has a one year low of $93.90 and a one year high of $120.63. The stock’s 50 day moving average price is $104.24 and its 200 day moving average price is $106.42. The stock has a market capitalization of $10.09 billion, a P/E ratio of 105.44 and a beta of 1.18.
SL Green Realty Corporation (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $279.41 million during the quarter, compared to analysts’ expectations of $281.40 million. On average, analysts forecast that SL Green Realty Corporation will post $1.70 EPS for the current year.
In related news, Director John H. Alschuler, Jr. sold 6,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $106.74, for a total transaction of $640,440.00. Following the transaction, the director now owns 7,196 shares in the company, valued at $768,101.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.09% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. boosted its position in shares of SL Green Realty Corporation by 6.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,702 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 174 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of SL Green Realty Corporation by 321.3% in the first quarter. Nationwide Fund Advisors now owns 151,303 shares of the real estate investment trust’s stock valued at $16,132,000 after buying an additional 115,391 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of SL Green Realty Corporation by 11.3% in the first quarter. State of Alaska Department of Revenue now owns 51,927 shares of the real estate investment trust’s stock valued at $5,535,000 after buying an additional 5,257 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of SL Green Realty Corporation by 3.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 2,926 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 84 shares in the last quarter. Finally, DnB Asset Management AS bought a new position in shares of SL Green Realty Corporation during the first quarter valued at about $1,223,000.
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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