SL Green Realty (NYSE:SLG)‘s stock had its “buy” rating restated by BMO Capital Markets in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $100.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective points to a potential upside of 15.41% from the stock’s previous close.
Several other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research lowered shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Deutsche Bank reiterated a “buy” rating and set a $110.00 price objective (down previously from $115.00) on shares of SL Green Realty in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lowered shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and set a $91.91 price objective on the stock. in a research note on Wednesday, March 13th. Finally, Morgan Stanley lowered shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $97.00 to $85.50 in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $98.87.
Shares of SLG stock opened at $86.65 on Thursday. 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 one year low of $76.77 and a one year high of $106.54. The stock has a market cap of $7.36 billion, a PE ratio of 13.09, a P/E/G ratio of 2.82 and a beta of 1.31.
SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business had revenue of $304.30 million for the quarter, compared to analyst estimates of $244.08 million. SL Green Realty had a return on equity of 3.82% and a net margin of 20.15%. SL Green Realty’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 EPS. As a group, analysts anticipate that SL Green Realty will post 6.91 EPS for the current year.
In other SL Green Realty news, CFO Matthew J. Diliberto sold 2,084 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $91.66, for a total value of $191,019.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig M. Hatkoff sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $92.24, for a total transaction of $230,600.00. Following the completion of the sale, the director now owns 2,352 shares in the company, valued at approximately $216,948.48. The disclosure for this sale can be found here. 3.65% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in SLG. Norges Bank acquired a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $73,769,000. Boston Partners increased its stake in shares of SL Green Realty by 13.5% in the fourth quarter. Boston Partners now owns 6,317,316 shares of the real estate investment trust’s stock valued at $499,574,000 after purchasing an additional 749,249 shares during the period. BlackRock Inc. increased its stake in shares of SL Green Realty by 6.0% during the fourth quarter. BlackRock Inc. now owns 9,130,834 shares of the real estate investment trust’s stock valued at $722,065,000 after acquiring an additional 516,276 shares during the period. JPMorgan Chase & Co. increased its stake in shares of SL Green Realty by 300.0% during the third quarter. JPMorgan Chase & Co. now owns 681,159 shares of the real estate investment trust’s stock valued at $66,434,000 after acquiring an additional 510,858 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of SL Green Realty during the fourth quarter valued at approximately $36,840,000. Institutional investors own 98.83% of the company’s stock.
SL Green Realty Company Profile
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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