SL Green Realty Corp (NYSE:SLG) has received an average recommendation of “Hold” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $100.51.

A number of research firms have weighed in on SLG. JPMorgan Chase & Co. downgraded SL Green Realty from an “equal weight” rating to an “underweight” rating and set a $91.91 price target on the stock. in a research report on Wednesday. Morgan Stanley downgraded SL Green Realty from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $97.00 to $85.50 in a research report on Wednesday. ValuEngine downgraded SL Green Realty from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Barclays upgraded SL Green Realty from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $97.00 to $100.00 in a research report on Monday, February 4th. Finally, Wells Fargo & Co set a $94.00 price target on SL Green Realty and gave the company a “market perform” rating in a research report on Wednesday, January 16th.

Shares of SLG stock opened at $91.52 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.91. SL Green Realty has a 52-week low of $76.77 and a 52-week high of $106.54. The firm has a market capitalization of $7.75 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 2.90 and a beta of 1.31.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 23rd. The real estate investment trust reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($2.45). SL Green Realty had a net margin of 20.15% and a return on equity of 3.82%. The firm had revenue of $317.04 million for the quarter, compared to analysts’ expectations of $255.12 million. During the same quarter in the previous year, the business earned $1.60 EPS. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, analysts predict that SL Green Realty will post 6.91 EPS for the current year.

In related news, Director Craig M. Hatkoff sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $92.24, for a total value of $230,600.00. Following the sale, the director now directly owns 2,352 shares of the company’s stock, valued at $216,948.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Holliday sold 110,000 shares of the firm’s stock in a transaction dated Friday, December 21st. The stock was sold at an average price of $83.23, for a total value of $9,155,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,500 shares of company stock worth $14,063,100. Company insiders own 3.65% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board grew its stake in shares of SL Green Realty by 34.6% in the third quarter. Canada Pension Plan Investment Board now owns 174,411 shares of the real estate investment trust’s stock worth $17,010,000 after purchasing an additional 44,800 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of SL Green Realty by 20.6% in the fourth quarter. California Public Employees Retirement System now owns 399,431 shares of the real estate investment trust’s stock worth $31,587,000 after purchasing an additional 68,259 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of SL Green Realty in the third quarter worth about $511,000. Norinchukin Bank The grew its stake in shares of SL Green Realty by 9.9% in the third quarter. Norinchukin Bank The now owns 11,766 shares of the real estate investment trust’s stock worth $1,148,000 after purchasing an additional 1,061 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of SL Green Realty by 2.8% in the third quarter. AQR Capital Management LLC now owns 20,035 shares of the real estate investment trust’s stock worth $1,954,000 after purchasing an additional 545 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

About SL Green Realty

SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2018, SL Green held interests in 101 Manhattan buildings totaling 46.0 million square feet.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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