SL Green Realty (NYSE:SLG) Upgraded at Deutsche Bank Aktiengesellschaft

SL Green Realty (NYSE:SLG) was upgraded by Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Benzinga reports. The firm presently has a $44.00 price target on the real estate investment trust’s stock, down from their previous price target of $45.00. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 15.23% from the stock’s current price.

Several other brokerages have also commented on SLG. Piper Sandler cut their price target on shares of SL Green Realty from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, January 5th. Raymond James Financial set a $44.00 price objective on shares of SL Green Realty in a report on Tuesday, February 3rd. Evercore set a $54.00 target price on shares of SL Green Realty and gave the stock an “outperform” rating in a research note on Monday, December 8th. Weiss Ratings restated a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, January 21st. Finally, LADENBURG THALM/SH SH decreased their price target on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, December 18th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.80.

SL Green Realty Stock Performance

NYSE SLG opened at $38.18 on Wednesday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -23.72 and a beta of 1.66. The stock has a 50-day moving average of $42.23 and a 200 day moving average of $48.57. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.05. SL Green Realty has a twelve month low of $35.03 and a twelve month high of $66.91.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. The company had revenue of $159.82 million for the quarter, compared to analyst estimates of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.SL Green Realty’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $1.81 earnings per share. Sell-side analysts anticipate that SL Green Realty will post 5.43 EPS for the current fiscal year.

Insider Activity

In other SL Green Realty news, CEO Marc Holliday sold 22,223 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the completion of the sale, the chief executive officer owned 9,698 shares in the company, valued at approximately $430,591.20. This represents a 69.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew S. Levine sold 1,493 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total value of $67,588.11. Following the transaction, the insider owned 7,045 shares in the company, valued at approximately $318,927.15. This represents a 17.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SL Green Realty

Institutional investors and hedge funds have recently bought and sold shares of the company. Cohen & Steers Inc. purchased a new stake in shares of SL Green Realty in the 4th quarter valued at approximately $121,675,000. Goldman Sachs Group Inc. raised its position in shares of SL Green Realty by 62.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock valued at $133,862,000 after buying an additional 1,117,357 shares during the period. Norges Bank acquired a new position in SL Green Realty in the fourth quarter valued at approximately $44,094,000. M&T Bank Corp acquired a new position in SL Green Realty in the fourth quarter valued at approximately $43,201,000. Finally, Victory Capital Management Inc. grew its position in SL Green Realty by 535.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,107,618 shares of the real estate investment trust’s stock worth $50,806,000 after acquiring an additional 933,272 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.