SL Green Realty Corporation (SLG) Rating Lowered to Strong Sell at BidaskClub
SL Green Realty Corporation (NYSE:SLG) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
Other equities research analysts have also recently issued research reports about the stock. UBS AG upgraded shares of SL Green Realty Corporation from a “neutral” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Thursday, July 13th. BMO Capital Markets reaffirmed a “buy” rating and set a $127.00 price objective on shares of SL Green Realty Corporation in a report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of SL Green Realty Corporation in a report on Thursday, June 22nd. They set a “buy” rating and a $121.00 price objective for the company. Citigroup Inc. cut their price objective on shares of SL Green Realty Corporation from $129.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, July 26th. Finally, TheStreet lowered shares of SL Green Realty Corporation from a “b-” rating to a “c” rating in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. SL Green Realty Corporation has an average rating of “Hold” and a consensus price target of $117.62.
SL Green Realty Corporation (SLG) traded down 1.55% on Friday, hitting $98.48. 140,279 shares of the company were exchanged. The stock has a market capitalization of $9.69 billion, a P/E ratio of 101.21 and a beta of 1.18. SL Green Realty Corporation has a 52 week low of $93.90 and a 52 week high of $120.63. The company has a 50 day moving average price of $103.42 and a 200-day moving average price of $106.14.
SL Green Realty Corporation (NYSE:SLG) last issued its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by $1.54. SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. The business had revenue of $279.41 million during the quarter, compared to the consensus estimate of $281.40 million. On average, equities analysts expect that SL Green Realty Corporation will post $1.56 earnings per share for the current fiscal year.
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In other SL Green Realty Corporation 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 transaction of $640,440.00. Following the completion of the transaction, the director now directly owns 7,196 shares of the company’s stock, valued at $768,101.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.09% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new position in SL Green Realty Corporation during the first quarter valued at approximately $203,000. Achmea Investment Management B.V. purchased a new position in SL Green Realty Corporation during the first quarter valued at approximately $224,000. OppenheimerFunds Inc. raised its position in SL Green Realty Corporation by 13.0% in the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 246 shares during the last quarter. BB&T Securities LLC purchased a new position in SL Green Realty Corporation during the second quarter valued at approximately $226,000. Finally, Global X Management Co. LLC raised its position in SL Green Realty Corporation by 35.1% in the first quarter. Global X Management Co. LLC now owns 2,146 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 557 shares during 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.
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