SL Green Realty Corporation (SLG) Receives $115.00 Consensus Price Target from Brokerages
SL Green Realty Corporation (NYSE:SLG) has been given a consensus recommendation of “Hold” by the nineteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $115.00.
SLG has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective on SL Green Realty Corporation from $112.00 to $105.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Zacks Investment Research raised SL Green Realty Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $104.00 target price (down previously from $106.00) on shares of SL Green Realty Corporation in a research note on Friday, September 1st. Barclays PLC cut their target price on 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. Finally, BMO Capital Markets cut their target price on SL Green Realty Corporation from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, September 21st.
Several institutional investors have recently made changes to their positions in SLG. Long Pond Capital LP raised its holdings in shares of SL Green Realty Corporation by 60.3% during the third quarter. Long Pond Capital LP now owns 2,740,082 shares of the real estate investment trust’s stock valued at $277,625,000 after acquiring an additional 1,031,232 shares in the last quarter. Brookfield Asset Management Inc. raised its holdings in shares of SL Green Realty Corporation by 41.6% during the second quarter. Brookfield Asset Management Inc. now owns 1,702,965 shares of the real estate investment trust’s stock valued at $180,174,000 after acquiring an additional 500,665 shares in the last quarter. Standard Life Investments LTD bought a new position in shares of SL Green Realty Corporation during the second quarter valued at approximately $52,928,000. Koch Industries Inc. bought a new position in shares of SL Green Realty Corporation during the second quarter valued at approximately $316,000. Finally, APG Asset Management US Inc. raised its holdings in SL Green Realty Corporation by 35.9% in the third quarter. APG Asset Management US Inc. now owns 1,130,500 shares of the real estate investment trust’s stock worth $114,542,000 after purchasing an additional 298,500 shares in the last quarter.
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Shares of SL Green Realty Corporation (NYSE SLG) traded down $0.31 during midday trading on Monday, hitting $100.75. The stock had a trading volume of 788,400 shares, compared to its average volume of 741,418. SL Green Realty Corporation has a 52 week low of $93.92 and a 52 week high of $115.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $9,930.73, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.
SL Green Realty Corporation (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($1.17). SL Green Realty Corporation had a return on equity of 1.54% and a net margin of 7.70%. The business had revenue of $319.50 million for the quarter, compared to analysts’ expectations of $326.70 million. During the same period in the previous year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. analysts anticipate that SL Green Realty Corporation will post 6.44 EPS for the current year.
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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