Citigroup Lowers SL Green Realty (NYSE:SLG) Price Target to $45.00

SL Green Realty (NYSE:SLG) had its price target cut by Citigroup from $55.00 to $45.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective would suggest a potential upside of 16.14% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, January 21st. LADENBURG THALM/SH SH lowered their price objective on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, December 18th. Raymond James Financial set a $44.00 price objective on SL Green Realty in a research note on Tuesday, February 3rd. Zacks Research upgraded SL Green Realty from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, BTIG Research decreased their target price on SL Green Realty from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.30.

SL Green Realty Trading Down 0.1%

SLG traded down $0.02 during midday trading on Tuesday, reaching $38.75. 209,929 shares of the company were exchanged, compared to its average volume of 1,387,739. The stock has a market capitalization of $2.76 billion, a P/E ratio of -24.07 and a beta of 1.66. SL Green Realty has a one year low of $35.03 and a one year high of $66.91. The stock’s 50-day simple moving average is $41.42 and its 200 day simple moving average is $48.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.66 and a current ratio of 2.66.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.SL Green Realty’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. As a group, analysts forecast that SL Green Realty will post 5.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Quent Capital LLC bought a new position in shares of SL Green Realty during the third quarter worth about $27,000. Salomon & Ludwin LLC acquired a new position in SL Green Realty during the 3rd quarter worth approximately $29,000. Whittier Trust Co. bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $29,000. Triumph Capital Management bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $45,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of SL Green Realty by 12,114.3% in the third quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 848 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.