LADENBURG THALM/SH SH Cuts SL Green Realty (NYSE:SLG) Price Target to $50.00

SL Green Realty (NYSE:SLG) had its price target lowered by stock analysts at LADENBURG THALM/SH SH from $60.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price target would indicate a potential upside of 13.07% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Barclays set a $59.00 target price on shares of SL Green Realty in a research note on Monday, November 3rd. Truist Financial set a $47.00 price objective on SL Green Realty and gave the company a “hold” rating in a report on Monday, December 8th. Piper Sandler reaffirmed an “overweight” rating on shares of SL Green Realty in a research note on Wednesday, December 3rd. UBS Group set a $47.00 price objective on shares of SL Green Realty in a report on Monday, December 8th. Finally, Mizuho lowered their price target on SL Green Realty from $67.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.88.

SL Green Realty Price Performance

Shares of NYSE SLG traded down $0.34 during midday trading on Thursday, hitting $44.22. The stock had a trading volume of 507,125 shares, compared to its average volume of 1,011,408. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $48.86 and a 200-day simple moving average of $56.15. The company has a market capitalization of $3.15 billion, a PE ratio of 4,433.53 and a beta of 1.61. SL Green Realty has a 1 year low of $40.26 and a 1 year high of $70.43.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. The company had revenue of $244.82 million for the quarter, compared to analyst estimates of $170.27 million. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. On average, sell-side analysts expect that SL Green Realty will post 5.43 EPS for the current fiscal year.

Institutional Trading of SL Green Realty

Several hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in SL Green Realty during the second quarter worth $55,947,000. Prudential Financial Inc. lifted its holdings in SL Green Realty by 104.1% in the second quarter. Prudential Financial Inc. now owns 1,622,594 shares of the real estate investment trust’s stock valued at $100,439,000 after acquiring an additional 827,407 shares during the period. Hudson Bay Capital Management LP boosted its position in shares of SL Green Realty by 51.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust’s stock worth $87,345,000 after purchasing an additional 497,040 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of SL Green Realty by 663.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 513,556 shares of the real estate investment trust’s stock worth $31,789,000 after purchasing an additional 446,283 shares during the period. Finally, BROOKFIELD Corp ON purchased a new position in shares of SL Green Realty in the 2nd quarter valued at about $18,695,000. 89.96% of the stock is owned by institutional investors and hedge funds.

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.