Brokerages Set SL Green Realty Corporation (NYSE:SLG) Price Target at $54.30

SL Green Realty Corporation (NYSE:SLG) has received an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $54.30.

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. Citigroup cut their price target on shares of SL Green Realty from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Barclays set a $54.00 price target on shares of SL Green Realty in a research report on Tuesday, January 13th. Mizuho lowered their price objective on shares of SL Green Realty from $67.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Finally, Morgan Stanley set a $43.00 price objective on shares of SL Green Realty in a report on Thursday, January 29th.

Insider Buying and Selling at SL Green Realty

In related news, insider Andrew S. Levine sold 1,493 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total value of $67,588.11. Following the transaction, the insider owned 7,045 shares of the company’s stock, valued at $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc Holliday sold 22,223 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the completion of the sale, the chief executive officer owned 9,698 shares in the company, valued at approximately $430,591.20. This represents a 69.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLG. Quent Capital LLC acquired a new stake in shares of SL Green Realty in the 3rd quarter valued at about $27,000. Salomon & Ludwin LLC acquired a new position in shares of SL Green Realty in the third quarter valued at approximately $29,000. Whittier Trust Co. purchased a new stake in shares of SL Green Realty during the third quarter worth approximately $29,000. Bessemer Group Inc. increased its stake in shares of SL Green Realty by 67.8% during the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 253 shares during the period. Finally, Triumph Capital Management purchased a new position in SL Green Realty during the third quarter worth about $45,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

NYSE:SLG opened at $38.05 on Friday. SL Green Realty has a fifty-two week low of $36.12 and a fifty-two week high of $66.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.66 and a current ratio of 2.66. The company has a 50 day moving average price of $44.83 and a 200 day moving average price of $50.59. The stock has a market capitalization of $2.71 billion, a P/E ratio of -23.63 and a beta of 1.63.

SL Green Realty (NYSE:SLG) last announced its 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. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The company had revenue of $159.82 million for the quarter, compared to analyst estimates of $162.73 million. During the same quarter in the previous year, the company earned $1.81 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that SL Green Realty will post 5.43 EPS for the current year.

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.