Morgan Stanley Raises SL Green Realty (NYSE:SLG) Price Target to $47.00

SL Green Realty (NYSE:SLG) had its price objective lifted by research analysts at Morgan Stanley from $41.00 to $47.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price would suggest a potential downside of 14.78% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. Piper Sandler reiterated an “overweight” rating and issued a $58.00 price objective on shares of SL Green Realty in a research note on Tuesday. BMO Capital Markets increased their price objective on shares of SL Green Realty from $34.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 5th. TheStreet raised shares of SL Green Realty from a “d+” rating to a “c-” rating in a report on Wednesday, January 10th. Finally, Truist Financial lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and increased their target price for the stock from $44.00 to $47.00 in a report on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.09.

SL Green Realty Stock Performance

SLG traded up $1.41 during midday trading on Thursday, hitting $55.15. 130,731 shares of the company traded hands, compared to its average volume of 1,308,179. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $3.57 billion, a PE ratio of -6.08, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The company’s 50-day moving average is $47.75 and its 200 day moving average is $41.65. SL Green Realty has a 52 week low of $20.51 and a 52 week high of $55.57.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 5,118 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.37, for a total transaction of $227,085.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Carol N. Brown sold 5,118 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.37, for a total value of $227,085.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Betsy S. Atkins sold 9,894 shares of SL Green Realty stock in a transaction on Friday, January 26th. The stock was sold at an average price of $47.25, for a total value of $467,491.50. Following the sale, the director now owns 6,886 shares of the company’s stock, valued at $325,363.50. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Institutional Trading of SL Green Realty

Several institutional investors and hedge funds have recently made changes to their positions in SLG. Deutsche Bank AG increased its stake in shares of SL Green Realty by 2,563.6% during the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock valued at $74,573,000 after buying an additional 1,924,221 shares during the period. Wellington Management Group LLP purchased a new position in SL Green Realty in the third quarter valued at about $38,666,000. BlackRock Inc. grew its stake in SL Green Realty by 9.6% in the first quarter. BlackRock Inc. now owns 11,246,072 shares of the real estate investment trust’s stock valued at $264,508,000 after purchasing an additional 988,677 shares during the last quarter. Norges Bank purchased a new position in SL Green Realty in the fourth quarter valued at about $24,417,000. Finally, Balyasny Asset Management L.P. grew its stake in SL Green Realty by 111.3% in the first quarter. Balyasny Asset Management L.P. now owns 1,139,857 shares of the real estate investment trust’s stock valued at $26,809,000 after purchasing an additional 600,284 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.