SL Green Realty Corporation (NYSE:SLG) Given Average Recommendation of “Hold” by Analysts

SL Green Realty Corporation (NYSE:SLG) has earned a consensus rating of “Hold” from the nineteen analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $54.30.

Several equities analysts have recently weighed in on SLG shares. Raymond James Financial set a $44.00 price objective on SL Green Realty in a research note on Tuesday, February 3rd. The Goldman Sachs Group set a $37.00 price target on shares of SL Green Realty and gave the company a “sell” rating in a research report on Friday, February 6th. Zacks Research downgraded shares of SL Green Realty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Piper Sandler cut their target price on shares of SL Green Realty from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of SL Green Realty from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, insider Andrew S. Levine sold 1,493 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.27, for a total value of $67,588.11. Following the completion of the transaction, the insider directly owned 7,045 shares of the company’s stock, valued at $318,927.15. This represents a 17.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Holliday sold 22,223 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the sale, the chief executive officer owned 9,698 shares of the company’s stock, valued at $430,591.20. This represents a 69.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SL Green Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of SL Green Realty by 83.0% in the 4th quarter. Invesco Ltd. now owns 310,982 shares of the real estate investment trust’s stock worth $14,265,000 after purchasing an additional 141,060 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in SL Green Realty by 11.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,595 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 976 shares during the last quarter. Empowered Funds LLC increased its holdings in SL Green Realty by 6.2% in the fourth quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 361 shares during the last quarter. Adelante Capital Management LLC acquired a new stake in SL Green Realty during the fourth quarter valued at approximately $4,441,000. Finally, Engineers Gate Manager LP lifted its holdings in SL Green Realty by 17,417.6% during the 4th quarter. Engineers Gate Manager LP now owns 840,844 shares of the real estate investment trust’s stock worth $38,570,000 after buying an additional 836,044 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $39.22 on Friday. The company has a 50-day simple moving average of $44.96 and a 200-day simple moving average of $50.79. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 3.22. The company has a market cap of $2.80 billion, a PE ratio of -24.36 and a beta of 1.63. SL Green Realty has a 12 month low of $36.12 and a 12 month high of $66.91.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $159.82 million during the quarter, compared to the consensus estimate of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. On average, equities analysts anticipate that SL Green Realty will post 5.43 earnings per share for the current year.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.