SL Green Realty Corp (SLG) is Reiterated by Stifel to Buy, Raises Price Target to $ 125

SL Green Realty Corp (SLG) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 125 from a previous price target of $121 . Stifel advised their investors in a research report released on Aug 15, 2016.

Many Wall Street Analysts have commented on SL Green Realty Corp. SL Green Realty Corp was Upgraded by Morgan Stanley to ” Overweight” on Jul 25, 2016. Shares were Downgraded by UBS on Jul 1, 2016 to ” Neutral” and Lowered the Price Target to $ 107 from a previous price target of $115 .

On the company’s financial health, SL Green Realty Corp reported $3.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $3.16. The company had revenue of $465.43 million for the quarter, compared to analysts expectations of $398.23 million. The company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.

SL Green Realty Corp opened for trading at $118.74 and hit $120.63 on the upside on Friday, eventually ending the session at $119.15, with a gain of 0.26% or 0.31 points. The heightened volatility saw the trading volume jump to 6,03,133 shares. Company has a market cap of $11,953 M.

In a different news, on Aug 1, 2016, Marc Holliday (CEO) purchased 37,340 shares at $26.92 per share price. According to the SEC, on Aug 1, 2016, Edwin T Iii Burton (director) sold 300 shares at $116.50 per share price. On Jul 27, 2016, Craig M Hatkoff (director) sold 20,500 shares at $115.41 per share price, according to the Form-4 filing with the securities and exchange commission.

SL Green Realty Corp. is a self-managed real estate investment trust or REIT with in-house capabilities in property management acquisitions and dispositions financing development and redevelopment construction and leasing. It operates two segments: real estate and debt and preferred equity investments. The Company owns interests in commercial office properties in the New York Metropolitan area primarily in midtown Manhattan. The Company also manages an approximately 336201 square foot office building owned by a third party and held debt and preferred equity investments with a book value of approximately $1.4 billion. The Company also invests in well-collateralized debt and preferred equity investments.

SL Green Realty Corp

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