SL Green Realty (NYSE:SLG) Price Target Raised to $60.00 at Scotiabank

SL Green Realty (NYSE:SLG) had its price target raised by analysts at Scotiabank from $56.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential upside of 9.47% from the company’s previous close.

Several other research analysts have also commented on the company. Piper Sandler set a $79.00 price target on SL Green Realty and gave the stock an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Truist Financial lifted their price objective on shares of SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Barclays set a $52.00 target price on shares of SL Green Realty and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Citigroup reissued a “buy” rating and issued a $60.00 price target (up from $45.00) on shares of SL Green Realty in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and an average price target of $55.15.

SL Green Realty Trading Down 1.8%

Shares of NYSE:SLG traded down $1.00 during midday trading on Wednesday, reaching $54.81. 136,244 shares of the company’s stock were exchanged, compared to its average volume of 1,262,169. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -20.08 and a beta of 1.58. SL Green Realty has a fifty-two week low of $34.77 and a fifty-two week high of $66.29. The firm’s 50 day simple moving average is $50.48 and its two-hundred day simple moving average is $44.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 3.10 and a quick ratio of 3.03.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The company had revenue of $171.85 million during the quarter, compared to analyst estimates of $179.01 million. During the same quarter last year, the firm posted $1.63 earnings per share. SL Green Realty’s revenue was up 16.5% compared to the same quarter last year. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. As a group, sell-side analysts forecast that SL Green Realty will post 5.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in SL Green Realty by 74.8% during the 1st quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock worth $1,519,000 after acquiring an additional 11,506 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of SL Green Realty in the 1st quarter valued at about $253,000. Empowered Funds LLC boosted its position in shares of SL Green Realty by 10.9% in the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 722 shares during the period. Creative Planning acquired a new position in SL Green Realty during the second quarter worth approximately $421,000. Finally, California Public Employees Retirement System boosted its holdings in shares of SL Green Realty by 4.6% in the second quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust’s stock valued at $8,142,000 after acquiring an additional 5,789 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

About SL Green Realty

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.