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SL Green Realty (NYSE:SLG) Stock, Rapport sur les intérêts à découvert

SL Green Realty

SL Green Realty is one of the largest Manhattan property owners and landlords, with interest in around 32 million square feet of wholly owned and joint-venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.

SL Green Realty Corp

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News

SL Green Realty Enters Contract To Purchase 500 Park Avenue For $130M

<p>Jefferies  analyst Jonathan Petersen   maintains SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Hold and raises the price target from $70 to $72.</p>


Price Target

Analyst Ratings

Jefferies Maintains Hold on SL Green Realty, Raises Price Target to $72

<p>The Company intends to use net proceeds from the offering for general corporate purposes, which may include new debt and equity investment opportunities and the repayment of a portion of its outstanding indebtedness.</p>


Reported Earlier, SL Green Realty Prices 5,063,291 Common Shares At $79/Share

Offerings

SL Green Realty Announces $400M Proposed Offering Of Common Stock

SL Green Realty Announced That It Has Closed On A Modification And Extension Of The $742.8M Mortgage On 1515 Broadway

<p>As of Oct. 31, 2024, two stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.</p>
<p>The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. </p>
<p>Here's the latest list of major overbought players in this sector.</p>
<h3 class="wp-block-heading"><strong>SL Green Realty Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>)</strong></h3>
<ul>
<li>On Oct. 16, SL Green Realty reported a quarterly loss of 21 cents per share, which beat the analyst consensus estimate of 50 cents per share. The company reported quarterly sales of $229.691 million which beat the analyst consensus estimate of $142.537 million. The company's stock gained around 12% over the past month and has a <a href="https://www.benzinga.com/quote/SLG">52-week high of $79.92</a>.</li>
<li><strong>RSI Value:</strong> 70.97&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li><strong>SLG Price Action:</strong> Shares of SL Green Realty gained 0.3% to close at $77.83 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading"><strong>Digital Realty Trust Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>)</strong></h3>
<ul>
<li>On Oct. 24, Digital Realty Trust reported better-than-expected third-quarter FFO results and raised its FY24 FFO guidance. &#8220;In the third quarter, Digital Realty posted over $520 million of new leasing, more than double the record set in the first quarter. Record leasing across both the greater-than-a-megawatt and 0-1 MW plus interconnection segments drove the backlog up nearly 60% above our prior record,&#8221; said Digital Realty President &amp; Chief Executive Officer Andy Power. The company's stock gained around 13% over the past month and <a href="https://www.benzinga.com/quote/DLR">has a 52-week high</a> of $193.88.</li>
<li><strong>RSI Value:</strong> 76.86</li>
<li><strong>DLR Price Action:</strong> Shares of Digital Realty Trust closed at $182.17 on Wednesday. </li>
</ul>
<p><strong>Read Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/news/24/10/41622545/wall-streets-most-accurate-analysts-spotlight-on-3-risk-off-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Risk Off Stocks Delivering High-Dividend Yields</a></strong></li>
</ul>


Pre-Market Outlook

Trading Ideas

Top 2 Real Estate Stocks You May Want To Dump This Quarter

<p>SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>), Manhattan's largest office landlord, today announced that it has signed a 72,515 square foot, 10-year lease with leading hedge fund Verition Group NY, Inc., raising occupancy in the building to 92.5%. Verition will expand its footprint in the building by 34,413 square feet, relocating from the 35th floor to the entire 14th and 15th floors. This transaction increases SL Green's office leases signed year to date to 3,002,971 square feet.</p>


SL Green Signs Major 10-Year Lease With Verition Group, Boosting Building Occupancy To 92.5%

<p>Scotiabank  analyst Nicholas Yulico   maintains SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Sector Perform and raises the price target from $68 to $80.</p>


Scotiabank Maintains Sector Perform on SL Green Realty, Raises Price Target to $80

<p>Barclays  analyst Anthony Powell   maintains SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Equal-Weight and raises the price target from $66 to $78.</p>


Barclays Maintains Equal-Weight on SL Green Realty, Raises Price Target to $78

<p>Across the recent three months, 17 analysts have shared their insights on SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>), expressing a variety of opinions spanning from bullish to bearish.</p>
<p>The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.</p>
<table>
<thead>
<tr>
<th></th>
<th align="right"><strong>Bullish</strong></th>
<th align="right"><strong>Somewhat Bullish</strong></th>
<th align="right"><strong>Indifferent</strong></th>
<th align="right"><strong>Somewhat Bearish</strong></th>
<th align="right"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">10</td>
<td align="right">2</td>
<td align="right">1</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">5</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">1</td>
</tr>
</tbody>
</table>
<p>Insights from analysts' 12-month price targets are revealed, presenting an average target of $65.29, a high estimate of $90.00, and a low estimate of $42.00. Marking an increase of 22.11%, the current average surpasses the previous average price target of $53.47. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1729544489_0.png" alt="price target chart" /></p>
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
<p>In examining recent analyst actions, we gain insights into how financial experts perceive SL Green Realty. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$79.00</td>
<td>$67.00</td>
</tr>
<tr>
<td>John Kim</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$87.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$66.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Ronald Josey</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$50.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Floris Van Dijkum</td>
<td>Compass Point</td>
<td>Raises</td>
<td>Neutral</td>
<td>$60.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$66.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Nicholas Joseph</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$66.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Blaine Heck</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$63.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Underperform</td>
<td>$55.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>James Feldman</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$62.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$68.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Anthony Paolone</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$51.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Sell</td>
<td>$42.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>John Kim</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$72.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$58.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$75.00</td>
<td>$58.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to SL Green Realty. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li><strong>Rating:</strong> Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of SL Green Realty compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts navigate through adjustments in price targets, providing estimates for SL Green Realty's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
<p>Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into SL Green Realty's market standing. Stay informed and make well-considered decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/SLG/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on SL Green Realty analyst ratings.</strong></a></p>
<h2>Delving into SL Green Realty's Background</h2>
<p>SL Green Realty is one of the largest Manhattan property owners and landlords, with interest in around 32 million square feet of wholly owned and joint-venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.</p>
<h3>SL Green Realty: A Financial Overview</h3>
<p><strong>Market Capitalization Analysis:</strong> The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.</p>
<p><strong>Revenue Growth:</strong> SL Green Realty displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately <strong>3.08%</strong>. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Real Estate sector.</p>
<p><strong>Net Margin:</strong> SL Green Realty's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of <strong>-5.78%,</strong> the company may encounter challenges in effective cost control.</p>
<p><strong>Return on Equity (ROE):</strong> SL Green Realty's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of <strong>-0.39%,</strong> the company may face hurdles in achieving optimal financial returns.</p>
<p><strong>Return on Assets (ROA):</strong> SL Green Realty's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of <strong>-0.13%,</strong> the company may face hurdles in generating optimal returns from its assets.</p>
<p><strong>Debt Management:</strong> SL Green Realty's debt-to-equity ratio stands notably higher than the industry average, reaching <strong>1.6</strong>. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.</p>
<h2>The Basics of Analyst Ratings</h2>
<p>Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. </p>
<p>Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.</p>
<p><strong>Which Stocks Are Analysts Recommending Now?</strong></p>
<p>Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights"><strong>Click here to stay ahead of the market</strong></a>.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


The Analyst Verdict: SL Green Realty In The Eyes Of 17 Experts

<p>Piper Sandler  analyst Alexander Goldfarb   reiterates SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Overweight and raises the price target from $75 to $90.</p>


Reiteration

Piper Sandler Reiterates Overweight on SL Green Realty, Raises Price Target to $90

<p>Evercore ISI Group  analyst Steve Sakwa   maintains SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a In-Line and raises the price target from $67 to $79.</p>


Evercore ISI Group Maintains In-Line on SL Green Realty, Raises Price Target to $79

<p>BMO Capital  analyst John Kim   reiterates SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Outperform and raises the price target from $72 to $87.</p>


BMO Capital Reiterates Outperform on SL Green Realty, Raises Price Target to $87

<p>SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) reported quarterly losses of $(0.21) per share which beat the analyst consensus estimate of $(0.50) by 58 percent.  The company reported quarterly sales of $229.691 million which beat the analyst consensus estimate of $142.537 million by 61.14 percent.  This is a 74.64 percent increase over sales of $131.524 million the same period last year.</p>


Earnings

Earnings Beats

SL Green Realty Q3 2024 Adj. EPS $(0.21) Beats $(0.50) Estimate, Sales $229.691M Beat $142.537M Estimate

<p>Reflecting Strong 2024 Leasing Momentum And Projected Increase In Manhattan Office Occupancy To 92.5% By Year-End</p>


SL Green Signs 925,000 Square Foot Renewal And Expansion Lease With Bloomberg, Including 11-Year Lease Extension And 175,841 Square Foot Expansion

<p><strong>SL Green Realty</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-10-16. Here's what investors need to know before the announcement.</p>
<p>Analysts estimate that SL Green Realty will report an <strong>earnings per share</strong> (EPS) of $1.24. </p>
<p>The announcement from SL Green Realty is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.</p>
<p>It's worth noting for new investors that guidance can be a key determinant of stock price movements.</p>
<h3>Performance in Previous Earnings</h3>
<p>Last quarter the company beat EPS by $0.45, which was followed by a 1.43% drop in the share price the next day.</p>
<p>Here's a look at SL Green Realty's past performance and the resulting price change:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2024</strong></th>
<th><strong>Q1 2024</strong></th>
<th><strong>Q4 2023</strong></th>
<th><strong>Q3 2023</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>1.60</td>
<td>2.16</td>
<td></td>
<td></td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>2.05</td>
<td>3.07</td>
<td>0.72</td>
<td>1.27</td>
</tr>
<tr>
<td><strong>Price Change %</strong></td>
<td>-1.0%</td>
<td>-2.0%</td>
<td>3.0%</td>
<td>-10.0%</td>
</tr>
</tbody>
</table>
</p>
<h3>Analyst Opinions on SL Green Realty</h3>
<p>For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on SL Green Realty.</p>
<p>A total of 15 analyst ratings have been received for SL Green Realty, with the consensus rating being Neutral. The average one-year price target stands at $60.6, suggesting a potential 13.44% downside.</p>
<h3>Peer Ratings Overview</h3>
<p>In this analysis, we delve into the analyst ratings and average 1-year price targets of Kilroy Realty, Cousins Props and Highwoods Props, three key industry players, offering insights into their relative performance expectations and market positioning.</p>
<ul>
<li>As per analysts' assessments, Kilroy Realty is favoring an Neutral trajectory, with an average 1-year price target of $38.67, suggesting a potential 44.77% downside.</li>
<li>Cousins Props received a Outperform consensus from analysts, with an average 1-year price target of $30.86, implying a potential 55.92% downside.</li>
<li>Highwoods Props received a Neutral consensus from analysts, with an average 1-year price target of $32.5, implying a potential 53.58% downside.</li>
</ul>
<h3>Key Findings: Peer Analysis Summary</h3>
<p>The peer analysis summary outlines pivotal metrics for Kilroy Realty, Cousins Props and Highwoods Props, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.</p>
<p>
<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>SL Green Realty</td>
<td>Neutral</td>
<td>-9.44%</td>
<td>$113.02M</td>
<td>-0.07%</td>
</tr>
<tr>
<td>Kilroy Realty</td>
<td>Neutral</td>
<td>-1.25%</td>
<td>$187.33M</td>
<td>0.89%</td>
</tr>
<tr>
<td>Cousins Props</td>
<td>Outperform</td>
<td>4.24%</td>
<td>$142.34M</td>
<td>0.18%</td>
</tr>
<tr>
<td>Highwoods Props</td>
<td>Neutral</td>
<td>-1.23%</td>
<td>$140.18M</td>
<td>2.64%</td>
</tr>
</tbody>
</table>
</p>
<p>Key Takeaway:</p>
<p>SL Green Realty ranks at the bottom for Revenue Growth and Gross Profit, with negative growth rates and lower profit compared to peers. It also has the lowest Return on Equity among the group. Overall, SL Green Realty lags behind its peers in key financial metrics.</p>
<h3>Delving into SL Green Realty's Background</h3>
<p>SL Green Realty is one of the largest Manhattan property owners and landlords, with interest in around 32 million square feet of wholly owned and joint-venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.</p>
<h3>Breaking Down SL Green Realty's Financial Performance</h3>
<p><strong>Market Capitalization Analysis:</strong> The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.</p>
<p><strong>Revenue Growth:</strong> SL Green Realty's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately <strong>-9.44%</strong>. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Real Estate sector.</p>
<p><strong>Net Margin:</strong> SL Green Realty's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of <strong>-1.17%,</strong> the company may face hurdles in effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> SL Green Realty's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of <strong>-0.07%,</strong> the company may encounter challenges in delivering satisfactory returns for shareholders.</p>
<p><strong>Return on Assets (ROA):</strong> SL Green Realty's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of <strong>-0.03%,</strong> the company may encounter challenges in delivering satisfactory returns from its assets.</p>
<p><strong>Debt Management:</strong> The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at <strong>1.31</strong>.</p>
<p><a href="https://www.benzinga.com/quote/SLG/earnings"><strong>To track all earnings releases for SL Green Realty visit their earnings calendar on our site.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Insights into SL Green Realty's Upcoming Earnings

<p>During the last three months, 16 analysts shared their evaluations of SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>), revealing diverse outlooks from bullish to bearish.</p>
<p>The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">11</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>
<p>In the assessment of 12-month price targets, analysts unveil insights for SL Green Realty, presenting an average target of $59.88, a high estimate of $75.00, and a low estimate of $42.00. Surpassing the previous average price target of $49.38, the current average has increased by 21.26%.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1728590410_0.png" alt="price target chart" /></p>
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
<p>An in-depth analysis of recent analyst actions unveils how financial experts perceive SL Green Realty. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$66.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Ronald Josey</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$50.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Floris Van Dijkum</td>
<td>Compass Point</td>
<td>Raises</td>
<td>Neutral</td>
<td>$60.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$66.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Nicholas Joseph</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$66.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Blaine Heck</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$63.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Underperform</td>
<td>$55.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>James Feldman</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$62.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$68.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Anthony Paolone</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$51.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Sell</td>
<td>$42.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>John Kim</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$72.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$58.00</td>
<td>$49.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$75.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$55.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Anthony Powell</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$49.00</td>
<td>$48.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to SL Green Realty. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of SL Green Realty compared to the broader market.</li>
<li><strong>Price Targets:</strong> Delving into movements, analysts provide estimates for the future value of SL Green Realty's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
<p>Capture valuable insights into SL Green Realty's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/SLG/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on SL Green Realty analyst ratings.</strong></a></p>
<h2>Delving into SL Green Realty's Background</h2>
<p>SL Green Realty is one of the largest Manhattan property owners and landlords, with interest in around 32 million square feet of wholly owned and joint-venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.</p>
<h3>SL Green Realty: Delving into Financials</h3>
<p><strong>Market Capitalization:</strong> Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.</p>
<p><strong>Revenue Challenges:</strong> SL Green Realty's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately <strong>-9.44%</strong>. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.</p>
<p><strong>Net Margin:</strong> SL Green Realty's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of <strong>-1.17%,</strong> the company may encounter challenges in effective cost control.</p>
<p><strong>Return on Equity (ROE):</strong> SL Green Realty's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of <strong>-0.07%,</strong> the company may face hurdles in generating optimal returns for shareholders.</p>
<p><strong>Return on Assets (ROA):</strong> SL Green Realty's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of <strong>-0.03%,</strong> the company may face hurdles in achieving optimal financial returns.</p>
<p><strong>Debt Management:</strong> The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at <strong>1.31</strong>.</p>
<h2>What Are Analyst Ratings?</h2>
<p>Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.</p>
<p>Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.</p>
<p><strong>Which Stocks Are Analysts Recommending Now?</strong></p>
<p>Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights"><strong>Click here to stay ahead of the market</strong></a>.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Analyst Expectations For SL Green Realty's Future

<p>Barclays  analyst Anthony Powell   maintains SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Equal-Weight and raises the price target from $58 to $66.</p>


Barclays Maintains Equal-Weight on SL Green Realty, Raises Price Target to $66

<p>Morgan Stanley  analyst Ronald Josey   maintains SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Equal-Weight and raises the price target from $47 to $50.</p>


Morgan Stanley Maintains Equal-Weight on SL Green Realty, Raises Price Target to $50

<p><strong>SL Green Realty Corp.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slg#NYSE">SLG</a>) has a portfolio of high-quality and well-amenitized office properties in New York City, which positions it well for growth.</p>
<p>This New York-based office real estate investment trust (REIT) primarily acquires, manages, develops and leases commercial (mainly office) and residential real estate properties. It has been witnessing healthy demand for its properties amid the growing need for premier office spaces.</p>
<p>Shares of this currently Zacks Rank #2 (Buy) company have rallied 25.8% over the past six months, outperforming its industry&#39;s growth of 13.9%. Given the strength in its fundamentals, there seems additional room for growth of this stock.</p>
<p><img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a5/80615.jpg?v=69424603" /></p>
<p>Image Source: Zacks Investment Research</p>
<h2>Factors That Make SL Green a Solid Pick</h2>
<p><strong>Healthy Leasing:</strong> Despite the negative effects of the remote-working dynamics that have been hindering the U.S. office real estate sector, SL Green signed 38 office leases for its Manhattan office portfolio, encompassing 420,513 square feet during the second quarter of 2024.</p>
<p>Office space demand in the upcoming period is likely to be driven by de-densification efforts, allowing higher square footage per office worker. Moreover, with well-located properties offering top-notch amenities, SLG&#39;s leasing pipeline is expected to be healthy despite the present challenging environment.</p>
<p><strong>Strong Tenant Base:</strong> This office REIT enjoys a diversified tenant base to hedge the risk associated with dependency on single-industry tenants. As a result, its largest tenants include renowned firms from different industries. Moreover, with tenants&#39; long-term leases with a strong credit profile, it is well-poised to generate stable rental revenues over the long term.</p>
<p><strong>Opportunistic Investment Policy:</strong> To improve the overall quality of its portfolio, SL Green has been following an opportunistic investment policy. This entails divesting its mature and non-core assets, including residential properties, in a tax-efficient manner and using the proceeds to fund development projects and share buybacks. These match-funding initiatives will ease the strain on the company&#39;s balance sheet and demonstrate its prudent capital-management practices.</p>
<p>In the second quarter through July 17, 2024, SL Green has completed the sale of three properties for a total of $691.4 million. The company received net proceeds of $222.7 million from the transactions, which were utilized for corporate debt repayment. The company also unveiled the sellout of the exclusive Giorgio Armani Residences on Manhattan&#39;s Upper East Side. All 10 residential units in this luxury condominium project are now under contract for a gross consideration of $168.2 million. The sales are scheduled to be concluded in the fourth quarter of 2024.</p>
<p>Over the years, the large-scale sub-urban asset sale has helped its narrow focus on the Manhattan market, as well as retain premium and highest-growth assets in the portfolio.</p>
<p><strong>FFO Growth:</strong> Analysts seem bullish regarding SLG&#39;s funds from operations (FFO) per share growth prospects. The Zacks Consensus Estimate for the company&#39;s 2024 FFO has been revised marginally upward over the past two months to $7.58.</p>
<p>SL Green has increased its 2024 FFO per share outlook and now expects it in the range of $7.45-$7.75 compared with $7.35-$7.65 guided earlier.</p>
<h2>Other Stocks to Consider</h2>
<p>Some other top-ranked stocks from the broader REIT sector are <strong>Cousins Properties</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) and <strong>Four Corners Property Trust</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcpt#NYSE">FCPT</a>), each carrying a Zacks Rank #2 at present.</p>
<p>The Zacks Consensus Estimate for Cousins Properties&#39; 2024 FFO per share is pegged at $2.67, which suggests year-over-year growth of 1.9%.</p>
<p>The Zacks Consensus Estimate for Four Corners&#39; full-year FFO per share stands at $1.73, which indicates an increase of 3.6% from the year-ago period.</p>
<p>Note: <em>Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.</em></p>
<p><a href="https://www.zacks.com/stock/news/2347048/here-s-why-sl-green-stock-is-an-apt-portfolio-pick-for-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2347048">To read this article on Zacks.com click here.</a></p>


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