SL Green Realty Corp Receives Upgrade to 'Sell' Rating by StockNews.com

Equity researchers at StockNews.com have adjusted their recommendation for SL Green Realty (NYSE:SLG), promoting the company to a 'sell' rating in their recent report published on Saturday. This provides SL Green Realty with a somewhat improved outlook in the eyes of the analyst community.

Varied Analyst Opinions

Other analysts also had different perspectives on SL Green Realty's stock valuation. Piper Sandler raised their target price from $56.00 to $58.00, maintaining an 'overweight' rating. Conversely, Evercore ISI reduced its price target from $33.00 to $31.00. In another evaluation, Barclays lifted their target price from $26.00 to $35.00 but still classified the stock as 'underweight'. Deutsche Bank Aktiengesellschaft began covering SL Green Realty, assigning a 'hold' rating with a $50.00 price target. Additionally, The Goldman Sachs Group raised its target price from $30.00 to $36.00, but retained a 'sell' rating. Overall, the company has an average 'Hold' rating and a collective target price of $38.31 as furnished by MarketBeat data.

SL Green Realty Market Performance

The shares of SL Green Realty began trading at $45.40 on the last trading session. The company's market capitalization stands at $2.92 billion, with a P/E ratio at -4.99, a PEG ratio of 0.79, and a beta value of 1.69. SL Green Realty saw its fifty-two week low at $19.06 and a peak at $50.11. Notably, the 50-day and 200-day moving averages are $44.07 and $38.29 respectively.

Insider Transactions at SL Green Realty

Betsy S. Atkins, a director of SL Green Realty, sold 9,894 shares at an average price of $47.25. Following the sale, Atkins now possesses 6,886 company shares valued at about $325,363.50. These insider actions are documented with the SEC and are available publicly.

Institutional and Hedge Fund Involvement

Several hedge funds and institutional investors have recently adjusted their stock positions. Rosenberg Matthew Hamilton uplifted its stake by 9.6%, Sequoia Financial Advisors boosted theirs by 1.9%, and Yousif Capital Management enhanced its shares slightly by 0.8%. Similarly, Linden Thomas Advisory Services and Arden Trust Co have also upped their investments in SL Green Realty. In total, 82.40% of SL Green stocks are owned by institutional investors.

About SL Green Realty

SL Green Realty Corp. holds the distinction as the largest office landlord in Manhattan. The company, a fully integrated real estate investment trust (REIT), focuses on acquiring, managing, and optimizing the value of commercial properties in Manhattan. As of mid-2022, SL Green has interests in 64 buildings, extending over approximately 34.4 million square feet.

SLG, Upgrade, Sell