SL Green Realty (NYSE:SLG) Raised to “Buy” at Deutsche Bank Aktiengesellschaft

SL Green Realty (NYSE:SLG) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $44.00 target price on the real estate investment trust’s stock, down from their prior target price of $45.00. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 11.11% from the stock’s current price.

A number of other equities research analysts also recently commented on SLG. The Goldman Sachs Group set a $37.00 price objective on shares of SL Green Realty and gave the company a “sell” rating in a research report on Friday, February 6th. Truist Financial set a $44.00 target price on SL Green Realty in a research report on Tuesday, February 3rd. Mizuho set a $38.00 target price on SL Green Realty and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. LADENBURG THALM/SH SH reduced their price target on SL Green Realty from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, December 18th. Finally, BMO Capital Markets decreased their price target on SL Green Realty from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 8th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.80.

SL Green Realty Stock Up 3.2%

SLG stock opened at $39.60 on Wednesday. The stock has a market capitalization of $2.82 billion, a PE ratio of -24.60 and a beta of 1.66. The company has a fifty day moving average of $41.86 and a 200-day moving average of $48.44. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.66 and a current ratio of 2.66. SL Green Realty has a one year low of $35.03 and a one year high of $66.91.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The business had revenue of $159.82 million for the quarter, compared to analyst estimates of $162.73 million. During the same period in the previous year, the business posted $1.81 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts expect that SL Green Realty will post 5.43 EPS for the current year.

Insider Activity

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 transaction of $67,588.11. Following the transaction, the insider directly owned 7,045 shares in the company, valued at approximately $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc Holliday sold 22,223 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the transaction, the chief executive officer directly owned 9,698 shares of the company’s stock, valued at approximately $430,591.20. This trade represents a 69.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds have recently bought and sold shares of SLG. State Street Corp grew its holdings in SL Green Realty by 1.0% in the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after purchasing an additional 41,873 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of SL Green Realty by 25.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock valued at $139,501,000 after buying an additional 617,488 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of SL Green Realty by 62.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock worth $133,862,000 after buying an additional 1,117,357 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in shares of SL Green Realty in the 4th quarter worth about $121,675,000. Finally, Geode Capital Management LLC boosted its position in shares of SL Green Realty by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,833,682 shares of the real estate investment trust’s stock worth $113,518,000 after buying an additional 6,690 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.