SL Green Realty (SLG) Given a $117.00 Price Target by SunTrust Banks Analysts

SL Green Realty (NYSE:SLG) has been assigned a $117.00 target price by investment analysts at SunTrust Banks in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. SunTrust Banks’ price objective would suggest a potential upside of 14.27% from the company’s current price. SunTrust Banks also issued estimates for SL Green Realty’s Q4 2017 earnings at $1.64 EPS, Q1 2018 earnings at $1.67 EPS, Q2 2018 earnings at $1.68 EPS, Q3 2018 earnings at $1.66 EPS, Q4 2018 earnings at $1.74 EPS, FY2018 earnings at $6.75 EPS, FY2019 earnings at $6.82 EPS and FY2020 earnings at $6.67 EPS.

SLG has been the subject of a number of other reports. Barclays reduced their price target on shares of SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. KeyCorp restated a “buy” rating and set a $130.00 price target on shares of SL Green Realty in a research report on Tuesday, September 26th. BMO Capital Markets restated a “buy” rating and set a $125.00 price target on shares of SL Green Realty in a research report on Wednesday, October 25th. Robert W. Baird boosted their price target on shares of SL Green Realty from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Finally, Citigroup reduced their price target on shares of SL Green Realty from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $115.62.

Shares of SL Green Realty (NYSE SLG) opened at $102.39 on Tuesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.38. SL Green Realty has a 1-year low of $93.92 and a 1-year high of $115.34. The stock has a market cap of $10,070.00, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.17). The business had revenue of $319.50 million for the quarter, compared to the consensus estimate of $326.70 million. SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 EPS. equities research analysts forecast that SL Green Realty will post 6.43 earnings per share for the current fiscal year.

SL Green Realty declared that its Board of Directors has initiated a stock repurchase program on Friday, December 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank grew its position in SL Green Realty by 9.2% in the third quarter. Toronto Dominion Bank now owns 37,660 shares of the real estate investment trust’s stock worth $3,816,000 after acquiring an additional 3,178 shares in the last quarter. Swiss National Bank boosted its position in SL Green Realty by 2.3% during the third quarter. Swiss National Bank now owns 375,200 shares of the real estate investment trust’s stock valued at $38,015,000 after buying an additional 8,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SL Green Realty 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. Honeywell International Inc. boosted its position in SL Green Realty by 27.8% during the third quarter. Honeywell International Inc. now owns 33,790 shares of the real estate investment trust’s stock valued at $3,424,000 after buying an additional 7,340 shares during the period. Finally, Artemis Investment Management LLP boosted its position in SL Green Realty by 117.9% during the third quarter. Artemis Investment Management LLP now owns 168,205 shares of the real estate investment trust’s stock valued at $17,040,000 after buying an additional 91,007 shares during the period.

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SL Green Realty Company Profile

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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