Morgan Stanley analyst Ronald Kamdem maintained a Hold rating on SL Green Realty yesterday and set a price target of $52.00.
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Ronald Kamdem has given his Hold rating due to a combination of factors impacting SL Green Realty’s financial outlook. The company’s 2026 funds from operations (FFO) guidance came in below consensus expectations, primarily due to anticipated higher asset sales, reduced investment income, and increased interest costs. These elements pose significant challenges, although there is some potential upside from fee income and gains from discounted debt.
Despite these headwinds, SL Green Realty has shown improvement in cash same-store net operating income (NOI) and has set ambitious goals for increasing leased occupancy and reducing debt. The company plans to be a net seller of assets and aims to enhance its fee income. While the outlook for certain Manhattan office markets appears positive, the overall financial guidance and strategic objectives suggest a cautious approach, justifying the Hold rating.
According to TipRanks, Kamdem is a 4-star analyst with an average return of 8.8% and a 59.15% success rate. Kamdem covers the Real Estate sector, focusing on stocks such as Regency Centers, BXP, and Extra Space Storage.
In another report released yesterday, Bank of America Securities also reiterated a Hold rating on the stock with a $54.00 price target.