TheStreet Upgrades SL Green Realty Corp. to “Buy” (SLG)
SL Green Realty Corp. (NYSE:SLG) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, American Banking News reports.
The analysts wrote, “SL Green Realty Corporation (SLG) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income, growth in earnings per share and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Separately, analysts at Morgan Stanley initiated coverage on shares of SL Green Realty Corp. in a research note to investors on Thursday, December 5th. They set an “equal weight” rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $95.44.
SL Green Realty Corp. (NYSE:SLG) traded up 0.15% on Friday, hitting $93.885. The stock had a trading volume of 206,401 shares. SL Green Realty Corp. has a 52-week low of $79.90 and a 52-week high of $98.25. The stock has a 50-day moving average of $92.38 and a 200-day moving average of $91.38. The company has a market cap of $8.662 billion and a P/E ratio of 101.78.
SL Green Realty Corp. (NYSE:SLG) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.35 by $0.07. During the same quarter last year, the company posted $1.16 earnings per share. Analysts expect that SL Green Realty Corp. will post $5.13 EPS for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.