Jefferies Financial Group Lowers SL Green Realty (NYSE:SLG) Price Target to $69.00

SL Green Realty (NYSE:SLG) had its target price lowered by research analysts at Jefferies Financial Group from $75.00 to $69.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price target suggests a potential upside of 1.35% from the company’s current price.

A number of other brokerages have also recently commented on SLG. Compass Point raised their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Evercore ISI boosted their price target on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $44.00 to $66.00 in a report on Friday, September 13th. Finally, Morgan Stanley upped 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $68.47.

SL Green Realty Price Performance

Shares of SLG stock opened at $68.08 on Thursday. The company has a market capitalization of $4.49 billion, a P/E ratio of -27.23, a P/E/G ratio of 4.26 and a beta of 1.82. 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 12 month low of $41.81 and a 12 month high of $82.81. The stock has a 50 day moving average of $74.46 and a two-hundred day moving average of $68.20.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The business had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, equities analysts expect that SL Green Realty will post 7.82 EPS for the current year.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors and hedge funds have recently made changes to their positions in SLG. Venturi Wealth Management LLC increased its position in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of SL Green Realty in the 2nd quarter valued at about $29,000. Point72 DIFC Ltd acquired a new stake in shares of SL Green Realty during the 3rd quarter worth approximately $35,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty during the 3rd quarter worth approximately $49,000. Finally, Blue Trust Inc. raised its stake in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 632 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

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.