SL Green Realty Corporation (SLG) Price Target Cut to $105.00

SL Green Realty Corporation (NYSE:SLG) had its price objective lowered by analysts at Barclays PLC from $111.00 to $105.00 in a report released on Wednesday. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays PLC’s price objective points to a potential upside of 9.74% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. UBS AG upgraded shares of SL Green Realty Corporation from a “neutral” rating to a “buy” rating and set a $117.00 target price for the company in a report on Thursday, July 13th. Citigroup Inc. dropped their price objective on shares of SL Green Realty Corporation from $129.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, July 26th. KeyCorp reissued a “buy” rating and issued a $130.00 price objective on shares of SL Green Realty Corporation in a research report on Friday, August 25th. BMO Capital Markets reissued a “buy” rating and issued a $127.00 price objective on shares of SL Green Realty Corporation in a research report on Tuesday, July 4th. Finally, SunTrust Banks, Inc. set a $115.00 price objective on shares of SL Green Realty Corporation and gave the company a “buy” rating in a research report on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. SL Green Realty Corporation currently has a consensus rating of “Hold” and a consensus target price of $115.00.

SL Green Realty Corporation (NYSE:SLG) traded down 0.09% on Wednesday, reaching $95.59. 380,317 shares of the company’s stock traded hands. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $115.34. The firm has a market capitalization of $9.46 billion, a PE ratio of 98.24 and a beta of 1.20. The firm’s 50 day moving average price is $100.16 and its 200 day moving average price is $102.06.

SL Green Realty Corporation (NYSE:SLG) last issued its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($1.17). SL Green Realty Corporation had a net margin of 7.70% and a return on equity of 1.51%. The firm had revenue of $319.50 million during the quarter, compared to the consensus estimate of $326.70 million. During the same period in the previous year, the company posted $1.63 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, analysts predict that SL Green Realty Corporation will post $0.23 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of SL Green Realty Corporation by 32.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,650 shares of the real estate investment trust’s stock valued at $5,041,000 after buying an additional 11,735 shares during the period. Paragon Capital Management Ltd bought a new stake in shares of SL Green Realty Corporation during the second quarter valued at about $246,000. Lasalle Investment Management Securities LLC increased its position in shares of SL Green Realty Corporation by 7.5% during the second quarter. Lasalle Investment Management Securities LLC now owns 2,349,685 shares of the real estate investment trust’s stock valued at $248,597,000 after buying an additional 163,813 shares during the period. Parametrica Management Ltd bought a new stake in shares of SL Green Realty Corporation during the second quarter valued at about $244,000. Finally, Private Capital Management Inc. bought a new stake in shares of SL Green Realty Corporation during the second quarter valued at about $291,000.

About SL Green Realty Corporation

SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.

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