SL Green Realty (NYSE:SLG) Stock Price Expected to Rise, Truist Financial Analyst Says

SL Green Realty (NYSE:SLG) had its price target upped by analysts at Truist Financial from $44.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would indicate a potential upside of 5.72% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Evercore reaffirmed an “outperform” rating and set a $46.00 price target on shares of SL Green Realty in a research note on Friday. Zacks Research raised SL Green Realty from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft raised SL Green Realty from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $45.00 to $44.00 in a research note on Wednesday, March 18th. Barclays reduced their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Finally, Scotiabank set a $52.00 price objective on SL Green Realty and gave the stock a “sector outperform” rating in a research note on Friday, March 13th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.15.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $43.51 on Wednesday. The stock has a fifty day moving average price of $38.61 and a two-hundred day moving average price of $44.64. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.66 and a current ratio of 3.03. The firm has a market cap of $3.10 billion, a P/E ratio of -17.34 and a beta of 1.61. SL Green Realty has a 1 year low of $34.77 and a 1 year high of $66.91.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $159.82 million during the quarter, compared to analyst estimates of $162.73 million. SL Green Realty had a negative return on equity of 4.06% and a negative net margin of 15.77%.The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. Research analysts forecast that SL Green Realty will post 4.64 EPS for the current fiscal year.

Institutional Investors Weigh In On SL Green Realty

Large investors have recently modified their holdings of the stock. Quent Capital LLC bought a new stake in shares of SL Green Realty during the 3rd quarter worth $27,000. Salomon & Ludwin LLC acquired a new stake in shares of SL Green Realty in the third quarter worth $29,000. Whittier Trust Co. acquired a new stake in shares of SL Green Realty in the third quarter worth $29,000. Triumph Capital Management acquired a new stake in shares of SL Green Realty in the third quarter worth $45,000. Finally, Davis Capital Management acquired a new stake in shares of SL Green Realty in the first quarter worth $46,000. 89.96% of the stock is owned by institutional investors.

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.