SL Green Realty (NYSE:SLG) Rating Increased to Equal Weight at Barclays

SL Green Realty (NYSE:SLG) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage presently has a $48.00 price target on the real estate investment trust’s stock, up from their previous price target of $35.00. Barclays‘s price objective would indicate a potential downside of 12.93% from the company’s current price.

SLG has been the topic of a number of other reports. StockNews.com raised SL Green Realty to a “sell” rating in a research report on Saturday, February 3rd. TheStreet upgraded shares of SL Green Realty from a “d+” rating to a “c-” rating in a report on Wednesday, January 10th. BMO Capital Markets raised their price target on shares of SL Green Realty from $34.00 to $44.00 and gave the company a “market perform” rating in a research report on Tuesday, December 5th. Deutsche Bank Aktiengesellschaft assumed coverage on SL Green Realty in a research note on Tuesday, January 30th. They issued a “hold” rating and a $50.00 price objective for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $58.00 price target on shares of SL Green Realty in a research report on Tuesday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.09.

SL Green Realty Price Performance

SLG stock opened at $55.13 on Wednesday. The company has a fifty day moving average price of $48.00 and a 200-day moving average price of $41.74. The company has a market capitalization of $3.57 billion, a P/E ratio of -6.06, a PEG ratio of 1.70 and a beta of 1.70. SL Green Realty has a 52-week low of $20.51 and a 52-week high of $55.75. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.23 and a current ratio of 2.23.

Insider Activity at SL Green Realty

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

Institutional Investors Weigh In On SL Green Realty

Large investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton raised its holdings in shares of SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 227 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of SL Green Realty by 6.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,291 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 249 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in SL Green Realty by 1.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock valued at $621,000 after purchasing an additional 255 shares during the last quarter. Yousif Capital Management LLC grew its stake in SL Green Realty by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 37,024 shares of the real estate investment trust’s stock worth $3,006,000 after buying an additional 299 shares in the last quarter. Finally, Arden Trust Co increased its holdings in shares of SL Green Realty by 1.5% in the 4th quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock worth $1,081,000 after buying an additional 356 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

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.