Morgan Stanley Lowers SL Green Realty (NYSE:SLG) Price Target to $36.00

SL Green Realty (NYSE:SLG) had its price target reduced by investment analysts at Morgan Stanley from $43.00 to $36.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would suggest a potential downside of 1.54% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Raymond James Financial set a $44.00 price target on SL Green Realty in a research note on Tuesday, February 3rd. LADENBURG THALM/SH SH reduced their price objective on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, December 18th. Evercore set a $54.00 target price on shares of SL Green Realty and gave the stock an “outperform” rating in a research report on Monday, December 8th. Barclays cut their target price on shares of SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Finally, Citigroup reduced their price target on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.45.

SL Green Realty Price Performance

NYSE:SLG opened at $36.56 on Tuesday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 1.05. The business’s 50-day simple moving average is $39.82 and its two-hundred day simple moving average is $46.89. The stock has a market cap of $2.61 billion, a PE ratio of -22.71 and a beta of 1.60. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $66.91.

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

Institutional Investors Weigh In On SL Green Realty

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of SL Green Realty by 12.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock valued at $43,536,000 after purchasing an additional 81,910 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of SL Green Realty by 282.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 52,986 shares of the real estate investment trust’s stock valued at $3,169,000 after purchasing an additional 39,135 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of SL Green Realty by 218.2% during the 3rd quarter. Picton Mahoney Asset Management now owns 239,012 shares of the real estate investment trust’s stock valued at $14,296,000 after purchasing an additional 163,903 shares during the last quarter. American Century Companies Inc. purchased a new stake in SL Green Realty during the 2nd quarter valued at $12,841,000. Finally, Strs Ohio lifted its position in SL Green Realty by 78.6% in the third quarter. Strs Ohio now owns 138,800 shares of the real estate investment trust’s stock worth $8,302,000 after buying an additional 61,100 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

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.