SL Green Realty Corporation (NYSE:SLG)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a research report issued on Friday. They presently have a $104.00 target price on the real estate investment trust’s stock, down from their prior target price of $106.00. Morgan Stanley’s price target points to a potential upside of 7.10% from the stock’s previous close.

A number of other research analysts also recently commented on SLG. KeyCorp reaffirmed a “buy” rating and set a $130.00 target price on shares of SL Green Realty Corporation in a report on Friday, August 25th. Bank of America Corporation downgraded SL Green Realty Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $113.00 to $110.00 in a report on Wednesday, August 16th. Barclays PLC reduced their target price on SL Green Realty Corporation from $110.00 to $109.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 1st. BidaskClub downgraded SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, UBS AG raised SL Green Realty Corporation from a “neutral” rating to a “buy” rating and set a $117.00 target price on the stock in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $116.31.

SL Green Realty Corporation (SLG) opened at 97.11 on Friday. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $118.87. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of 99.80 and a beta of 1.19. The firm’s 50-day moving average price is $100.47 and its 200 day moving average price is $104.86.

SL Green Realty Corporation (NYSE:SLG) last released its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by $1.54. SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. The firm had revenue of $279.41 million for the quarter, compared to the consensus estimate of $281.40 million. On average, equities research analysts forecast that SL Green Realty Corporation will post $1.34 EPS for the current year.

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In related news, Director John H. Alschuler, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $106.74, for a total value of $640,440.00. Following the sale, the director now owns 7,196 shares of the company’s stock, valued at approximately $768,101.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.09% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Thrivent Financial For Lutherans boosted its stake in SL Green Realty Corporation by 0.9% in the first quarter. Thrivent Financial For Lutherans now owns 52,525 shares of the real estate investment trust’s stock valued at $5,600,000 after buying an additional 490 shares in the last quarter. Parametrica Management Ltd acquired a new stake in SL Green Realty Corporation during the second quarter valued at approximately $244,000. Prudential Financial Inc. boosted its stake in SL Green Realty Corporation by 212.6% in the first quarter. Prudential Financial Inc. now owns 726,323 shares of the real estate investment trust’s stock valued at $77,440,000 after buying an additional 493,972 shares in the last quarter. Private Capital Management Inc. acquired a new stake in SL Green Realty Corporation during the second quarter valued at approximately $291,000. Finally, Morgan Stanley boosted its stake in SL Green Realty Corporation by 45.6% in the first quarter. Morgan Stanley now owns 582,759 shares of the real estate investment trust’s stock valued at $62,133,000 after buying an additional 182,647 shares in the last quarter.

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.

Analyst Recommendations for SL Green Realty Corporation (NYSE:SLG)

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