SL Green Realty Corporation (NYSE:SLG) was downgraded by equities researchers at Bank of America Corporation from a “buy” rating to a “neutral” rating in a report issued on Wednesday. They presently have a $110.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $113.00. Bank of America Corporation’s target price points to a potential upside of 10.59% from the company’s previous close.

Several other research firms have also weighed in on SLG. TheStreet lowered shares of SL Green Realty Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, April 19th. Barclays PLC lowered their price objective on shares of SL Green Realty Corporation from $110.00 to $109.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 1st. BidaskClub upgraded shares of SL Green Realty Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $113.00 price objective on shares of SL Green Realty Corporation in a research note on Thursday, August 3rd. Finally, Morgan Stanley lowered shares of SL Green Realty Corporation from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $120.00 to $106.00 in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $116.54.

SL Green Realty Corporation (SLG) opened at 99.47 on Wednesday. SL Green Realty Corporation has a 12-month low of $93.90 and a 12-month high of $118.87. The stock has a 50 day moving average of $102.82 and a 200 day moving average of $105.88. The firm has a market cap of $9.84 billion, a PE ratio of 102.23 and a beta of 1.18.

SL Green Realty Corporation (NYSE:SLG) last released its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by $1.54. The firm had revenue of $279.41 million for the quarter, compared to the consensus estimate of $281.40 million. SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. On average, equities research analysts anticipate that SL Green Realty Corporation will post $1.59 EPS for the current fiscal year.

WARNING: This piece was posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.watchlistnews.com/sl-green-realty-corporation-slg-downgraded-by-bank-of-america-corporation/1493962.html.

In related news, Director John H. Alschuler, Jr. sold 6,000 shares of SL Green Realty Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $106.74, for a total value of $640,440.00. Following the completion of the sale, the director now owns 7,196 shares of the company’s stock, valued at approximately $768,101.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.99% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SLG. Somerset Trust Co increased its position in SL Green Realty Corporation by 0.5% in the second quarter. Somerset Trust Co now owns 4,052 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 19 shares in the last quarter. Mason Street Advisors LLC increased its position in SL Green Realty Corporation by 0.3% in the first quarter. Mason Street Advisors LLC now owns 13,899 shares of the real estate investment trust’s stock worth $1,482,000 after buying an additional 39 shares in the last quarter. Keybank National Association OH increased its position in SL Green Realty Corporation by 2.3% in the second quarter. Keybank National Association OH now owns 3,533 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 79 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in SL Green Realty Corporation by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,570 shares of the real estate investment trust’s stock worth $914,000 after buying an additional 80 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC increased its position in SL Green Realty Corporation by 3.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 2,926 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 84 shares in the last quarter.

SL Green Realty Corporation Company Profile

SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.

Analyst Recommendations for SL Green Realty Corporation (NYSE:SLG)

Receive News & Ratings for SL Green Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.