SL Green Realty Corp. (NYSE: SLG) Overview and Analyst Insights

• The consensus price target for SL Green Realty Corp. (NYSE: SLG) has seen fluctuations, with a current target set at $71.10.
• SL Green's stock has experienced a significant decline of 12.29% over the past four weeks but shows signs of a potential trend reversal.
• The company is scheduled to release its fourth quarter 2024 earnings on January 22, 2025, with a positive outlook from analysts.

SL Green Realty Corp. (NYSE: SLG) is a leading real estate investment trust (REIT) and the largest office landlord in Manhattan. The company focuses on acquiring, managing, and enhancing the value of commercial properties in Manhattan. By the end of 2020, SL Green had interests in 88 buildings, covering a total of 38.2 million square feet.

The consensus price target for SL Green's stock has shown fluctuations over the past year. Last year, the average price target was $64.38, which increased to $73 last quarter, indicating a more optimistic outlook during that period. However, the target slightly decreased to $69 last month, possibly due to recent market conditions or company-specific factors.

SL Green's stock has experienced a significant decline, dropping 12.29% over the past four weeks. This decline has led to the stock becoming technically oversold, suggesting that the intense selling pressure may be subsiding. Despite this, Wall Street analysts, including Anthony Paolone from J.P. Morgan, have revised earnings estimates upwards, indicating a potential trend reversal for SLG in the near term.

The current price target for SL Green is set at $71.10, reflecting optimism about the stock's future performance. The formation of a hammer chart pattern suggests that the stock has found support after its recent decline. This technical indicator, combined with upward earnings estimate revisions, suggests a possible trend reversal for SLG in the near future.

SL Green has announced that it will release its fourth quarter 2024 earnings on January 22, 2025, after the market closes. The company's executive management team, led by Marc Holliday, Chairman and CEO, will conduct a conference call and audio webcast on January 23, 2025, to discuss the financial results. Analyst Anthony Paolone from J.P. Morgan maintains a positive outlook with a price target of $71.10.