SL Green Realty price target lowered to $54 from $62 at Truist

Truist lowered the firm’s price target on SL Green Realty (SLG) to $54 from $62 and keeps a Hold rating on the shares. The firm is reducing its FY26 FFO estimates due to higher projected interest expense and adjustments to more accurately reflect consolidation of 100 Park Avenue, the analyst tells investors in a research note. Truist add that while the REIT has several potential catalysts, and management suggested on last week’s conference call that given opportunities for equity, debt, fee-oriented and leasing deals, it is targeting the high end of 2025 FFO guidance, until deals are announced, the firm is taking a relatively conservative approach on modeling future investment income.