Scotiabank Raises SL Green Realty (NYSE:SLG) Price Target to $60.00

SL Green Realty (NYSE:SLG) had its price target increased by research analysts at Scotiabank from $56.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 9.47% from the company’s previous close.

SLG has been the subject of a number of other research reports. Piper Sandler set a $79.00 price objective on SL Green Realty and gave the stock an “overweight” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Evercore cut shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price objective for the company. in a research note on Monday, July 6th. Morgan Stanley set a $52.00 target price on SL Green Realty and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.15.

SL Green Realty Trading Down 1.8%

SL Green Realty stock traded down $1.00 during midday trading on Wednesday, reaching $54.81. The stock had a trading volume of 136,244 shares, compared to its average volume of 1,262,169. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -20.08 and a beta of 1.58. The company has a fifty day moving average of $50.48 and a 200 day moving average of $44.39. SL Green Realty has a 52-week low of $34.77 and a 52-week high of $66.29. The company has a quick ratio of 3.03, a current ratio of 3.10 and a debt-to-equity ratio of 1.12.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.43% and a negative net margin of 16.92%.The firm had revenue of $171.85 million during the quarter, compared to the consensus estimate of $179.01 million. During the same period in the previous year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. On average, analysts anticipate that SL Green Realty will post 5.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SL Green Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triumph Capital Management acquired a new position in SL Green Realty during the third quarter worth about $45,000. Davis Capital Management acquired a new position in shares of SL Green Realty during the 1st quarter worth approximately $46,000. Fourth Dimension Wealth LLC increased its holdings in shares of SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 500 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 378 shares during the period. Finally, Leonteq Securities AG increased its position in SL Green Realty by 4,194.0% during the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,097 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.