SL Green Realty (NYSE:SLG) Coverage Initiated by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group assumed coverage on shares of SL Green Realty (NYSE:SLG) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $58.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 0.28% from the stock’s previous close.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. raised shares of SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $51.00 to $80.00 in a research report on Tuesday, December 10th. Evercore ISI raised SL Green Realty from an “in-line” rating to an “outperform” rating and cut their target price for the company from $74.00 to $73.00 in a research report on Monday. Wells Fargo & Company cut their target price on SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Bank of America cut their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Morgan Stanley upped their price objective on SL Green Realty from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.87.

SL Green Realty Trading Down 0.7 %

Shares of SL Green Realty stock opened at $57.84 on Monday. The stock has a market cap of $4.12 billion, a P/E ratio of 722.98, a P/E/G ratio of 5.30 and a beta of 1.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The stock’s 50 day simple moving average is $63.66 and its 200-day simple moving average is $69.24. SL Green Realty has a 1-year low of $47.22 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating the consensus estimate of ($0.45) by $1.90. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Analysts predict that SL Green Realty will post 5.43 EPS for the current fiscal year.

Insider Buying and Selling at SL Green Realty

In other news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SL Green Realty

Several hedge funds have recently made changes to their positions in SLG. Point72 DIFC Ltd acquired a new stake in shares of SL Green Realty during the third quarter worth about $35,000. Jones Financial Companies Lllp acquired a new stake in shares of SL Green Realty during the fourth quarter worth about $39,000. Quadrant Capital Group LLC boosted its stake in shares of SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 208 shares during the period. Versant Capital Management Inc boosted its stake in shares of SL Green Realty by 17.7% during the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 157 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in SL Green Realty during the fourth quarter worth about $75,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

About SL Green Realty

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.