SL Green Realty (NYSE:SLG) Now Covered by Goldman Sachs Group

Research analysts at Goldman Sachs Group started coverage on shares of SL Green Realty (NYSE:SLG) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $96.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s target price indicates a potential upside of 11.63% from the stock’s previous close.

Several other research firms also recently commented on SLG. Barclays set a $107.00 price objective on SL Green Realty and gave the company a “buy” rating in a research note on Friday, October 11th. SunTrust Banks dropped their price objective on SL Green Realty to $100.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. They noted that the move was a valuation call. Zacks Investment Research upgraded SL Green Realty from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Wednesday, September 11th. Stifel Nicolaus cut shares of SL Green Realty from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a report on Monday, September 30th. Finally, Citigroup lowered their target price on shares of SL Green Realty from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. SL Green Realty presently has an average rating of “Hold” and a consensus target price of $93.49.

SL Green Realty stock traded up $0.85 during trading on Friday, hitting $86.00. The stock had a trading volume of 634,453 shares, compared to its average volume of 668,476. SL Green Realty has a 1 year low of $75.46 and a 1 year high of $97.59. The company has a quick ratio of 1.91, a current ratio of 1.65 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average is $81.86 and its two-hundred day moving average is $82.74. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06.

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SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.33). SL Green Realty had a net margin of 15.37% and a return on equity of 3.18%. The firm had revenue of $248.03 million during the quarter, compared to analysts’ expectations of $243.02 million. During the same quarter in the previous year, the company posted $1.69 EPS. SL Green Realty’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that SL Green Realty will post 6.95 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. increased its stake in SL Green Realty by 31.0% in the second quarter. Oppenheimer & Co. Inc. now owns 27,531 shares of the real estate investment trust’s stock valued at $2,213,000 after acquiring an additional 6,522 shares during the last quarter. Schroder Investment Management Group bought a new position in SL Green Realty in the second quarter valued at $647,000. Asset Management One Co. Ltd. increased its stake in SL Green Realty by 2.1% in the second quarter. Asset Management One Co. Ltd. now owns 205,554 shares of the real estate investment trust’s stock valued at $16,519,000 after acquiring an additional 4,266 shares during the last quarter. 6 Meridian increased its stake in SL Green Realty by 2.8% in the second quarter. 6 Meridian now owns 5,515 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 149 shares during the last quarter. Finally, Pensionfund DSM Netherlands increased its stake in SL Green Realty by 10.5% in the second quarter. Pensionfund DSM Netherlands now owns 44,123 shares of the real estate investment trust’s stock valued at $3,546,000 after acquiring an additional 4,200 shares during the last quarter. 99.96% of the stock is currently owned by institutional investors and hedge funds.

About SL Green Realty

SL Green Realty Corp., an S&P 500 company and New York City'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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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