SL Green Realty (NYSE:SLG) Stock Price Expected to Rise, Mizuho Analyst Says

SL Green Realty (NYSE:SLG) had its target price hoisted by analysts at Mizuho from $45.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target would indicate a potential upside of 3.88% from the stock’s previous close.

Several other brokerages also recently commented on SLG. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $44.00 to $66.00 in a research report on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and set a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. BMO Capital Markets restated an “outperform” rating and issued a $87.00 price target (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Finally, Compass Point lifted their target price on SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.38.

SL Green Realty Trading Down 1.8 %

NYSE:SLG opened at $64.50 on Tuesday. The company’s 50 day moving average is $73.76 and its 200-day moving average is $68.48. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty has a 12 month low of $41.81 and a 12 month high of $82.81. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -25.80, a P/E/G ratio of 4.26 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The firm had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period in the prior year, the firm earned $1.27 EPS. Equities analysts anticipate that SL Green Realty will post 7.82 EPS for the current year.

Institutional Trading of SL Green Realty

Several large investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. boosted its holdings in shares of SL Green Realty by 40.1% in the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after acquiring an additional 35,178 shares in the last quarter. Waterfall Asset Management LLC acquired a new position in SL Green Realty in the second quarter worth $3,172,000. FMR LLC boosted its stake in SL Green Realty by 69.1% in the third quarter. FMR LLC now owns 58,185 shares of the real estate investment trust’s stock worth $4,050,000 after purchasing an additional 23,780 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of SL Green Realty during the third quarter worth $771,000. Finally, Citigroup Inc. increased its stake in shares of SL Green Realty by 54.6% in the third quarter. Citigroup Inc. now owns 85,587 shares of the real estate investment trust’s stock valued at $5,958,000 after buying an additional 30,220 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

About SL Green Realty

3SL Green Realty Corp., Manhattan’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 June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.