Scotiabank Trims SL Green Realty (SLG) Price Target to $51 Following Q4 REIT Updates

SL Green Realty Corp. (NYSE:SLG) is included among the 13 Best REIT Dividend Stocks to Invest in.

On March 2, Scotiabank lowered the firm’s price recommendation on SL Green Realty Corp. (NYSE:SLG) to $51 from $61. The firm reiterated an Outperform rating on the shares. The analyst said the firm is updating its price targets for U.S. Real Estate & REIT stocks under coverage following Q4 results. Scotiabank said REITs should consider raising target development yields and focus more on the near-term impact on funds from operations per share. The firm also noted that external growth through acquisitions offers a “better thematic story.”

On March 2, the company announced that it signed 32 Manhattan office leases totaling 491,098 square feet in the first two months of 2026. At the same time, it reported a leasing pipeline of more than 1.0 million square feet. Steven Durels, SL Green’s Executive Vice President, Director of Leasing and Real Property, made the following remark:

“Tenant demand remains strong for the best buildings in the best locations as a majority of tenants continue to expand their office requirements. Rents are rising and concessions are beginning to tighten as market vacancy moves lower across Midtown Manhattan.”

SL Green Realty Corp. (NYSE:SLG) is Manhattan’s largest office landlord and a fully integrated real estate investment trust, focused primarily on acquiring, managing, and maximizing the value of Manhattan commercial properties. As of December 31, 2025, the company held interests in 56 buildings totaling 31.4 million square feet. This included ownership interests in 28.0 million square feet of Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments.

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