Mizuho Forecasts Strong Price Appreciation for SL Green Realty (NYSE:SLG) Stock

SL Green Realty (NYSE:SLG) had its price target increased by equities researchers at Mizuho from $38.00 to $46.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price suggests a potential downside of 9.28% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings raised shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Morgan Stanley dropped their price target on SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Truist Financial raised their price target on SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of SL Green Realty in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.60.

SL Green Realty Price Performance

NYSE:SLG opened at $50.70 on Tuesday. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The business’s 50-day simple moving average is $48.17 and its two-hundred day simple moving average is $43.96. The stock has a market cap of $3.62 billion, a PE ratio of -20.20 and a beta of 1.58. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $66.29.

Institutional Investors Weigh In On SL Green Realty

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in SL Green Realty by 63.8% in the fourth quarter. SG Americas Securities LLC now owns 80,888 shares of the real estate investment trust’s stock worth $3,710,000 after buying an additional 31,505 shares during the last quarter. Hosking Partners LLP raised its stake in shares of SL Green Realty by 18.5% in the fourth quarter. Hosking Partners LLP now owns 290,166 shares of the real estate investment trust’s stock valued at $13,310,000 after acquiring an additional 45,337 shares during the period. M&T Bank Corp bought a new stake in shares of SL Green Realty in the 4th quarter worth about $43,201,000. Levin Capital Strategies L.P. purchased a new position in shares of SL Green Realty during the 4th quarter worth about $3,588,000. Finally, Nan Fung Trinity HK Ltd. bought a new position in SL Green Realty during the 4th quarter valued at about $6,230,000. 89.96% of the stock is owned by institutional investors.

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.