As of Thursday, SL Green Realty Corp.’s (NYSE:SLG) stock closed at $42.86, down from $44.11 the previous day. While SL Green Realty Corp. has underperformed by -2.83%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SLG fell by -38.91%, with highs and lows ranging from $85.15 to $42.74, whereas the simple moving average fell by -33.64% in the last 200 days.
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On September 14, 2022, Truist Upgraded SL Green Realty Corp. (NYSE: SLG) to Buy. A report published by BMO Capital Markets on September 08, 2022, Upgraded its rating to ‘Outperform’ for SLG. Credit Suisse also rated SLG shares as ‘Neutral’, setting a target price of $51 on the company’s shares in an initiating report dated June 23, 2022. Mizuho Initiated an Neutral rating on April 22, 2022, and assigned a price target of $77. Truist March 28, 2022d its ‘Buy’ rating to ‘Hold’ for SLG, as published in its report on March 28, 2022. Deutsche Bank’s report from January 03, 2022 suggests a price prediction of $82 for SLG shares, giving the stock a ‘Buy’ rating. BofA Securities also rated the stock as ‘Neutral’.
Analysis of SL Green Realty Corp. (SLG)
Investors in SL Green Realty Corp. will get a return regardless of how the company performs over the next quarter since the company’s dividend stands at $3.73 per share. Further, the quarter-over-quarter decrease in sales is -7.70%, showing a negative trend in the upcoming months.
One of the most important indicators of SL Green Realty Corp.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 6.50% is sufficient for you to turn a profit off your investment.
For any stock, average volume can also provide valuable insight into volatility, and SLG is recording 930.76K average volume. On a monthly basis, the volatility of the stock is set at 3.00%, whereas on a weekly basis, it is put at 3.76%, with a loss of -6.42% over the past seven days. Furthermore, long-term investors anticipate a median target price of $58.36, showing growth from the present price of $42.86, which can serve as yet another indication of whether SLG is worth investing in or should be passed over.
How Do You Analyze SL Green Realty Corp. Shares?
The REIT – Office market is dominated by SL Green Realty Corp. (SLG) based in the USA. When comparing SL Green Realty Corp. shares with other companies under Real Estate, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 10.06, there is a growth in quarterly earnings of -144.70%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.38%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 92.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SLG shares?
The recent increase in stakes in SLG appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in SLG has decreased by -2.27% in the first quarter. The company now owns 9,190,709 shares of the stock, with a value of $405.95 million, following the sale of -213,693 additional shares during the last quarter. BlackRock Fund Advisors made another decreased to its shares in SLG during the first quarter, downing its stake by -0.75%. During the last quarter, the company dropped down -45,674 additional shares for a total stake of worth $267.3 million, bringing number of shares owned by the company to 6,051,683.
During the first quarter, SSgA Funds Management, Inc. subtracted a -156,946 position in SLG. Confluence Investment Management purchased an additional 0.73 million shares in the last quarter, increasing its holdings by 54.28%, now holding 2.08 million shares worth $91.84 million. At the end of the first quarter, PGGM Vermogensbeheer BV increased its SLG holdings by 3.06% and now holds 1.77 million SLG shares valued at $78.01 million with the added 52439.0 shares during the period. SLG shares are owned by institutional investors to the tune of 92.00% at present.