SL Green Realty (NYSE:SLG) Given Outperform Rating at BMO Capital Markets

SL Green Realty (NYSE:SLG)‘s stock had its “outperform” rating reaffirmed by equities researchers at BMO Capital Markets in a note issued to investors on Monday, Benzinga reports. They currently have a $87.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $72.00. BMO Capital Markets’ target price suggests a potential upside of 12.83% from the stock’s current price.

SLG has been the subject of a number of other research reports. Truist Financial boosted their price objective on shares of SL Green Realty from $47.00 to $55.00 and gave the company a “hold” rating in a report on Friday, July 19th. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and boosted their price target for the company from $44.00 to $66.00 in a report on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Compass Point set a $65.00 target price on SL Green Realty and gave the stock a “neutral” rating in a report on Friday. Finally, Morgan Stanley increased their price target on SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average target price of $61.86.

SL Green Realty Trading Down 2.1 %

Shares of SLG stock traded down $1.66 during trading hours on Monday, reaching $77.11. The company had a trading volume of 54,799 shares, compared to its average volume of 985,344. SL Green Realty has a 1-year low of $28.55 and a 1-year high of $79.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.59 and a quick ratio of 2.59. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -9.34, a P/E/G ratio of 1.94 and a beta of 1.83. The company has a 50 day moving average of $67.57 and a 200 day moving average of $59.72.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($1.42). The company had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. During the same period in the previous year, the company posted $1.27 EPS. On average, equities research analysts anticipate that SL Green Realty will post 7.61 EPS for the current year.

Hedge Funds Weigh In On SL Green Realty

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of SL Green Realty in the 2nd quarter valued at about $29,000. Friedenthal Financial acquired a new stake in SL Green Realty in the 3rd quarter valued at about $49,000. Blue Trust Inc. lifted its stake in SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 632 shares during the last quarter. Rothschild Investment LLC acquired a new stake in SL Green Realty in the 2nd quarter valued at about $55,000. Finally, Fidelis Capital Partners LLC acquired a new stake in SL Green Realty in the 1st quarter valued at about $55,000. Institutional investors own 89.96% of the company’s stock.

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.