Barclays Has Lowered Expectations for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its price target cut by investment analysts at Barclays from $54.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective points to a potential upside of 16.87% from the stock’s previous close.

Several other brokerages have also recently weighed in on SLG. The Goldman Sachs Group set a $37.00 price objective on shares of SL Green Realty and gave the stock a “sell” rating in a research note on Friday, February 6th. Citigroup cut their target price on SL Green Realty from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. BTIG Research reduced their price target on SL Green Realty from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Zacks Research cut SL Green Realty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft set a $45.00 price objective on SL Green Realty in a research note on Tuesday, January 6th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.30.

SL Green Realty Stock Performance

SL Green Realty stock opened at $36.79 on Thursday. The business has a 50 day moving average of $44.09 and a 200-day moving average of $50.08. The company has a market capitalization of $2.62 billion, a P/E ratio of -22.85 and a beta of 1.63. SL Green Realty has a 1 year low of $36.12 and a 1 year high of $66.91. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 2.66.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The business had revenue of $159.82 million for the quarter, compared to the consensus estimate of $162.73 million. During the same period last year, the company earned $1.81 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts predict that SL Green Realty will post 5.43 earnings per share for the current year.

Insider Buying and Selling at SL Green Realty

In other news, insider Andrew S. Levine sold 1,493 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.27, for a total value of $67,588.11. Following the completion of the sale, the insider directly owned 7,045 shares in the company, valued at $318,927.15. This trade represents a 17.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Holliday sold 22,223 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total value of $986,701.20. Following the transaction, the chief executive officer directly owned 9,698 shares in the company, valued at approximately $430,591.20. This trade represents a 69.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.04% of the company’s stock.

Institutional Trading of SL Green Realty

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quent Capital LLC bought a new position in SL Green Realty during the 3rd quarter valued at $27,000. Whittier Trust Co. purchased a new stake in shares of SL Green Realty in the third quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new stake in shares of SL Green Realty in the third quarter valued at about $29,000. Bessemer Group Inc. lifted its position in shares of SL Green Realty by 67.8% during the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 253 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in SL Green Realty during the third quarter worth about $45,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.