SL Green Realty (NYSE:SLG) Price Target Raised to $44.00 at Wells Fargo & Company

SL Green Realty (NYSE:SLG) had its price objective raised by stock analysts at Wells Fargo & Company from $40.00 to $44.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 2.38% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Zacks Research upgraded SL Green Realty from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Barclays reduced their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Raymond James Financial set a $44.00 price objective on SL Green Realty in a research report on Tuesday, February 3rd. Weiss Ratings upgraded SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 report on Wednesday, March 18th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.70.

SL Green Realty Trading Down 0.7%

SL Green Realty stock traded down $0.33 during trading on Monday, reaching $45.08. 192,021 shares of the company were exchanged, compared to its average volume of 1,306,541. SL Green Realty has a 52-week low of $34.77 and a 52-week high of $66.91. The company has a market capitalization of $3.22 billion, a P/E ratio of -17.96 and a beta of 1.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. The stock’s 50 day simple moving average is $41.13 and its two-hundred day simple moving average is $42.81.

Institutional Investors Weigh In On SL Green Realty

Institutional investors and hedge funds have recently modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of SL Green Realty in the 3rd quarter valued at $45,000. Cornerstone Planning Group LLC raised its holdings in shares of SL Green Realty by 12,114.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 848 shares during the period. State of Wyoming purchased a new stake in shares of SL Green Realty in the 3rd quarter valued at $68,000. Hantz Financial Services Inc. raised its holdings in shares of SL Green Realty by 252.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 885 shares during the period. Finally, Davis Capital Management purchased a new stake in shares of SL Green Realty in the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.