SL Green Realty (NYSE:SLG) PT Lowered to $58.00 at Morgan Stanley

Posted by on Jun 1st, 2022

SL Green Realty (NYSE:SLG – Get Rating) had its target price dropped by stock analysts at Morgan Stanley from $65.00 to $58.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would indicate a potential downside of 3.43% from the company’s current price.

Several other equities research analysts have also recently weighed in on SLG. Barclays increased their price target on SL Green Realty from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, March 29th. The Goldman Sachs Group decreased their target price on SL Green Realty from $90.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. StockNews.com started coverage on SL Green Realty in a research note on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on SL Green Realty from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Finally, Wells Fargo & Company decreased their target price on SL Green Realty from $84.00 to $76.00 in a research note on Thursday, April 28th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.44.

SL Green Realty stock traded down $1.71 during trading hours on Wednesday, hitting $60.06. The stock had a trading volume of 5,826 shares, compared to its average volume of 880,202. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.85. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 4.49 and a beta of 1.40. SL Green Realty has a one year low of $59.09 and a one year high of $85.65. The business’s 50 day simple moving average is $71.24 and its 200-day simple moving average is $75.09.

SL Green Realty (NYSE:SLG – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.10. The company had revenue of $187.96 million during the quarter, compared to analysts’ expectations of $163.65 million. SL Green Realty had a return on equity of 9.32% and a net margin of 57.70%. The business’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Research analysts anticipate that SL Green Realty will post 6.81 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of SLG. Amplius Wealth Advisors LLC bought a new stake in SL Green Realty during the fourth quarter worth $27,000. Quent Capital LLC bought a new stake in SL Green Realty during the fourth quarter worth $72,000. Marshall Wace North America L.P. bought a new stake in SL Green Realty during the first quarter worth $72,000. Penserra Capital Management LLC bought a new stake in SL Green Realty during the third quarter worth $89,000. Finally, Belpointe Asset Management LLC bought a new stake in SL Green Realty during the first quarter worth $100,000. Institutional investors and hedge funds own 84.49% of the company’s stock.

SL Green Realty Company Profile (Get Rating)

SL Green Realty Corp., an S&P 500 company and 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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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