Raises Holdings in SL Green Realty Corporation (SLG)

Cornelia Mascio
Novembre 25, 2017

However, SL Green faces intense competition from developers, owners and operators of office properties and other commercial real estate which limits its pricing power.

Several other brokerages also recently weighed in on SLG. Stifel Nicolaus lowered their price target on shares of SL Green Realty Corporation from $112.00 to $105.00 and set a hold rating on the stock in a report on Tuesday, October 24th.

Equity analyst Robert W. Baird raised the price target on October 23 changing the forecast from $120.00 to $121.00 and issued a "Outperform" rating. Barclays PLC dropped their price target on SL Green Realty Corporation from $110.00 to $109.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company's stock. The stock presently has an average rating of "Hold" and an average price target of $115.00. KeyCorp updated guidance on SLG with a rating of "Buy" and projecting a price target of $130.00.

The company is now down by 0.80% since yesterday's close of 101.04. The P/E ratio is 99.65 and the market cap is 9.85B. SL Green Realty Corporation has a 12-month low of $93.92 and a 12-month high of $115.34.

SL Green Realty Corporation (NYSE:SLG) last announced its earnings results on Wednesday, October 18th. The 1 year EPS growth rate is 95.10%. The business's revenue for the quarter was down 4.5% compared to the same quarter a year ago. Its share price has risen 0.19% in three months and is up 1.79% for the last five trades. During the same period last year, the company posted $1.63 earnings per share. research analysts anticipate that SL Green Realty Corporation will post 6.44 earnings per share for the current year.

WARNING: "SL Green Realty Corporation (SLG) Upgraded to "Hold" by Zacks Investment Research" was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of USA & global copyright and trademark legislation. The original version of this story can be viewed at https://www.truebluetribune.com/2017/11/23/sumitomo-mitsui-trust-holdings-inc-has-34-59-million-stake-in-sl-green-realty-corporation-slg.html. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SL Green Realty Corporation by 32.7% in the second quarter. APG Asset Management US Inc. now owns 1,130,500 shares of the real estate investment trust's stock valued at $114,542,000 after acquiring an additional 298,500 shares during the period. BB&T Securities LLC acquired a new stake in SL Green Realty Corporation in the 2nd quarter valued at about $226,000. Brookfield Asset Management Inc. now owns 1,702,965 shares of the real estate investment trust's stock valued at $180,174,000 after acquiring an additional 500,665 shares during the period. Standard Life Investments LTD bought a new stake in SL Green Realty Corporation in the 2nd quarter valued at $52,928,000. Lasalle Investment Management Securities LLC lifted its stake in SL Green Realty Corporation by 7.5% in the second quarter. Brookfield Asset Management Inc. raised its stake in SL Green Realty Corporation by 41.6% in the 2nd quarter.

Traders are a little more bullish on SL Green Realty Corp as shown by the fall in short interest. The Company operates through two segments: real estate, and debt and preferred equity investments.

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