SL Green Realty (NYSE:SLG) PT Raised to $44.00 at JPMorgan Chase & Co.

SL Green Realty (NYSE:SLG) had its target price upped by research analysts at JPMorgan Chase & Co. from $43.00 to $44.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 13.01% from the stock’s current price.

Several other equities analysts have also recently issued reports on SLG. The Goldman Sachs Group boosted their target price on SL Green Realty from $30.00 to $36.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Morgan Stanley boosted their target price on SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. BMO Capital Markets upgraded SL Green Realty from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $56.00 to $58.00 in a research report on Thursday, April 18th. Piper Sandler reiterated an “overweight” rating and set a $58.00 target price on shares of SL Green Realty in a research report on Tuesday, March 26th. Finally, Scotiabank boosted their target price on SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, April 2nd. Six research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average target price of $47.00.

SL Green Realty Stock Performance

Shares of SLG stock opened at $50.58 on Thursday. The stock has a market capitalization of $3.33 billion, a PE ratio of -6.12, a price-to-earnings-growth ratio of 1.43 and a beta of 1.71. SL Green Realty has a 52-week low of $20.51 and a 52-week high of $55.75. The stock’s 50-day moving average price is $50.58 and its 200 day moving average price is $43.76. The company has a quick ratio of 2.23, a current ratio of 2.96 and a debt-to-equity ratio of 1.01.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 5,118 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.37, for a total value of $227,085.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in SL Green Realty by 6.3% in the 1st quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 196 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 227 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of SL Green Realty by 1.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 13,739 shares of the real estate investment trust’s stock worth $621,000 after purchasing an additional 255 shares during the period. Arden Trust Co lifted its stake in shares of SL Green Realty by 1.5% during the 4th quarter. Arden Trust Co now owns 23,935 shares of the real estate investment trust’s stock worth $1,081,000 after purchasing an additional 356 shares during the period. Finally, Gotham Asset Management LLC lifted its stake in shares of SL Green Realty by 3.6% during the 3rd quarter. Gotham Asset Management LLC now owns 10,526 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 362 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

About SL Green Realty

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.