SL Green Realty (NYSE:SLG) Price Target Raised to $51.00 at JPMorgan Chase & Co.

SL Green Realty (NYSE:SLG) had its target price raised by analysts at JPMorgan Chase & Co. from $49.00 to $51.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.64% from the stock’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley dropped their target price on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft upgraded SL Green Realty from a “hold” rating to a “buy” rating and dropped their target price for the stock from $45.00 to $44.00 in a report on Wednesday, March 18th. Citigroup dropped their target price on SL Green Realty from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Raymond James Financial set a $44.00 target price on SL Green Realty in a report on Tuesday, February 3rd. Finally, Truist Financial upped their target price on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and an average price target of $51.15.

SL Green Realty Stock Up 4.1%

SLG traded up $1.73 during trading hours on Tuesday, hitting $43.72. 833,219 shares of the company’s stock were exchanged, compared to its average volume of 1,358,096. SL Green Realty has a 1-year low of $34.77 and a 1-year high of $66.91. The stock’s 50-day moving average is $39.02 and its two-hundred day moving average is $43.93. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -17.42 and a beta of 1.60. The company has a quick ratio of 2.66, a current ratio of 3.03 and a debt-to-equity ratio of 1.19.

Hedge Funds Weigh In On SL Green Realty

A number of large investors have recently made changes to their positions in the company. Calamos Wealth Management LLC bought a new position in shares of SL Green Realty during the first quarter worth approximately $274,000. Calamos Advisors LLC bought a new position in shares of SL Green Realty during the first quarter worth approximately $274,000. Principal Financial Group Inc. increased its stake in shares of SL Green Realty by 2.2% during the first quarter. Principal Financial Group Inc. now owns 345,868 shares of the real estate investment trust’s stock worth $12,776,000 after purchasing an additional 7,318 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of SL Green Realty by 22.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,936 shares of the real estate investment trust’s stock worth $1,845,000 after purchasing an additional 9,020 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of SL Green Realty by 826.3% during the first quarter. Fifth Third Bancorp now owns 23,527 shares of the real estate investment trust’s stock worth $869,000 after purchasing an additional 20,987 shares during the period. Institutional investors own 89.96% of the company’s stock.

About SL Green Realty

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.