SL Green Realty Corp (NYSE:SLG) price on Friday, December 27, fall -2.69% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $66.24.
A look at the stock’s price movement, the close in the last trading session was $68.07, moving within a range at $66.09 and $68.1699. The beta value (5-Year monthly) was 1.8. Turning to its 52-week performance, $82.81 and $41.81 were the 52-week high and 52-week low respectively. Overall, SLG moved -15.26% over the past month.
SL Green Realty Corp’s market cap currently stands at around $5.05 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 3.00, with its dividend yield at 4.53%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 156.3M for the company’s revenue for the quarter, with a low and high estimate of 151.74M and 159M respectively. The average forecast suggests up to a 3.26% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 605.86M, representing a -11.34% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SLG is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 2 recommend SLG as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SLG’s current price about -8.39% and -12.24% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 31.91, while 7-day volatility ratio is 2.76% and 3.31% in the 30-day chart. Further, SL Green Realty Corp (SLG) has a beta value of 1.80, and an average true range (ATR) of 2.41. Analysts have given the company’s stock an average 52-week price target of $72, forecast between a low of $63 and high of $90. Looking at the price targets, the low is 4.89% off current price level while to achieve the yearly target high, price needs to move -35.87%. Nonetheless, investors will most likely welcome a -8.7% jump to $72 which is the analysts’ median price.
If we refocus on SL Green Realty Corp (NYSE:SLG), historical trading data shows that trading volumes averaged 1.04 over the past 10 days and 905.82K over the past 3 months. The company’s latest data on shares outstanding shows there are 71.74 million shares.
The 0.08% of SL Green Realty Corp’s shares are in the hands of company insiders while institutional holders own 81.96% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.27 million on 2024-11-29, giving us a short ratio of 7.36. The data shows that as of 2024-11-29 short interest in SL Green Realty Corp (SLG) stood at 1485.0001 of shares outstanding, with shares short falling to 7.82 million registered in 2024-10-31. Current price change has pushed the stock 46.65% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SLG stock continues to rise going into the next quarter.
