On Oct 22, major Wall Street analysts update their ratings for $SL Green Realty (SLG.US)$, with price targets ranging from $78 to $90.
Barclays analyst Brendan Lynch maintains with a hold rating, and adjusts the target price from $48 to $78.
Evercore analyst Steve Sakwa upgrades to a hold rating, and adjusts the target price from $55 to $79.
BMO Capital analyst John Kim maintains with a buy rating, and adjusts the target price from $72 to $87.
Piper Sandler analyst Alexander Goldfarb maintains with a buy rating, and adjusts the target price from $75 to $90.
Furthermore, according to the comprehensive report, the opinions of $SL Green Realty (SLG.US)$'s main analysts recently are as follows:
The company's earnings estimates have been elevated following its performance which surpassed expectations in terms of leasing volumes and growth in occupancy, along with an enhanced mark-to-market opportunity.
Following 'strong' Q3 results, it's noted that SL Green Realty maintains one of the most credible leasing pipelines in the office sector, with a high likelihood of converting into signed leases. The company's cash mark-to-market is anticipated to see further improvement in Q4 after a 10.8% increase year-to-date. Positive sentiment towards SL Green is supported by the stock's discounted valuation, prospective future asset sales, and robust lead indicators for office demand.
Following SL Green Realty's Q3 report and subsequent discussion, adjustments were made to the forecasting model which resulted in a slight reduction of the FY24 FFO estimate. Additionally, a modest decrease was observed in the FY25 FFO estimate. The net asset value estimate was revised upwards due to a reduction in the overall capitalization rate alongside increased valuations for One Vanderbilt and One Madison.
Here are the latest investment ratings and price targets for $SL Green Realty (SLG.US)$ from 4 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
