SL Green Realty Corp. (SLG) Stock Price Up 1.5%
Shares of SL Green Realty Corp. (NYSE:SLG) rose 1.5% during mid-day trading on Wednesday . The company traded as high as $117.70 and last traded at $116.98, with a volume of 459,622 shares. The stock had previously closed at $115.25.
A number of equities analysts have weighed in on the stock. TheStreet upgraded shares of SL Green Realty Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. JPMorgan Chase & Co. restated a “buy” rating on shares of SL Green Realty Corp. in a report on Wednesday, July 20th. BMO Capital Markets upped their price target on SL Green Realty Corp. from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Stifel Nicolaus upped their price target on SL Green Realty Corp. from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 25th. Finally, Jefferies Group decreased their price target on SL Green Realty Corp. from $133.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, August 23rd. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $111.95.
The company has a market cap of $11.59 billion and a PE ratio of 27.47. The firm has a 50 day moving average of $115.72 and a 200 day moving average of $103.24.
SL Green Realty Corp. (NYSE:SLG) last released its earnings results on Wednesday, July 20th. The real estate investment trust reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.29. During the same quarter in the previous year, the company posted $1.62 EPS. The company had revenue of $617.60 million for the quarter, compared to the consensus estimate of $343.44 million. The business’s revenue was up 34.7% on a year-over-year basis. On average, equities research analysts anticipate that SL Green Realty Corp. will post $8.30 EPS for the current fiscal year.
In related news, Director Edwin T. Burton III sold 300 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $116.50, for a total transaction of $34,950.00. Following the sale, the director now owns 6,579 shares in the company, valued at $766,453.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig M. Hatkoff sold 20,500 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $115.41, for a total value of $2,365,905.00. Following the sale, the director now owns 7,404 shares in the company, valued at approximately $854,495.64. The disclosure for this sale can be found here.
SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. It operates two segments: real estate and debt and preferred equity investments.
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