SL Green Realty (SLG) Rating Lowered to Sell at ValuEngine

SL Green Realty (NYSE:SLG) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Several other research analysts have also weighed in on SLG. Robert W. Baird set a $106.00 price objective on SL Green Realty and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research lowered SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Sandler O’Neill reissued a “buy” rating and issued a $115.00 price objective on shares of SL Green Realty in a research report on Monday, April 23rd. JPMorgan Chase lowered their price objective on SL Green Realty from $114.00 to $113.00 and set an “overweight” rating for the company in a research report on Tuesday, April 24th. Finally, Jefferies Group reissued a “hold” rating and issued a $100.00 price objective on shares of SL Green Realty in a research report on Thursday, April 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $112.33.

SL Green Realty traded up $0.08, hitting $95.20, during trading hours on Thursday, MarketBeat reports. 1,838 shares of the company were exchanged, compared to its average volume of 996,985. SL Green Realty has a one year low of $95.32 and a one year high of $96.81. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.80. The firm has a market cap of $8.53 billion, a P/E ratio of 14.77, a P/E/G ratio of 2.38 and a beta of 1.05.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, April 18th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($1.10). SL Green Realty had a return on equity of 2.72% and a net margin of 13.36%. The business had revenue of $301.70 million during the quarter, compared to the consensus estimate of $295.93 million. During the same period last year, the business posted $1.57 earnings per share. The business’s revenue was down 20.1% on a year-over-year basis. equities research analysts expect that SL Green Realty will post 6.75 EPS for the current year.

In other news, insider Andrew S. Levine sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $100.23, for a total value of $1,503,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.09% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in SL Green Realty during the 4th quarter valued at about $133,000. Kemper Corp Master Retirement Trust acquired a new position in SL Green Realty during the 4th quarter valued at about $204,000. Commerzbank Aktiengesellschaft FI acquired a new position in SL Green Realty during the 1st quarter valued at about $226,000. Candriam Luxembourg S.C.A. acquired a new position in SL Green Realty during the 1st quarter valued at about $227,000. Finally, American Investment Services Inc. acquired a new position in SL Green Realty during the 4th quarter valued at about $240,000.

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, 2017, SL Green held interests in 121 Manhattan buildings totaling 50.0 million square feet.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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