SL Green Realty Corp. Coverage Initiated by Analysts at Morgan Stanley (SLG)
Stock analysts at Morgan Stanley initiated coverage on shares of SL Green Realty Corp. (NYSE:SLG) in a report issued on Thursday, AnalystRatingsNetwork.com reports. The firm set an “equal weight” rating on the stock.
The analysts wrote, “As a near pure play on Manhattan office, SLG will benefit from the growing tenant demand suggested by our broker survey. Mark-to-market leasing helps drive FFO up 15% by 2015. But with shares up 20% YTD vs. -1% for the RMZ and fewer acquisitions to create value, we await a better entry point.”
SL Green Realty Corp. (NYSE:SLG) traded down 0.38% on Thursday, hitting $91.15. The stock had a trading volume of 58,306 shares. SL Green Realty Corp. has a 52-week low of $75.03 and a 52-week high of $98.25. The stock has a 50-day moving average of $93.10 and a 200-day moving average of $90.48. The company has a market cap of $8.409 billion and a P/E ratio of 99.35.
SL Green Realty Corp. (NYSE:SLG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.28 by $0.06. The company had revenue of $363.77 million for the quarter, compared to the consensus estimate of $285.51 million. During the same quarter last year, the company posted $1.14 earnings per share. SL Green Realty Corp.’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that SL Green Realty Corp. will post $5.10 EPS for the current fiscal year.
A number of other firms have also recently commented on SLG. Analysts at JPMorgan Chase & Co. raised their price target on shares of SL Green Realty Corp. from $96.00 to $103.00 in a research note to investors on Thursday, October 24th. They now have an “overweight” rating on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of SL Green Realty Corp. in a research note to investors on Tuesday, October 22nd. They now have a $96.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of SL Green Realty Corp. from $89.00 to $95.00 in a research note to investors on Tuesday, October 22nd. They now have an “equal weight” rating on the stock. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $94.30.
SL Green Realty Corp., incorporated on June, 10, 1997, is a self-managed real estate investment trust (NYSE:SLG), with in-house capabilities in property management, acquisitions, financing, development, construction and leasing.
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