SL Green Realty Corp (NYSE:SLG) price on Friday, May 23, rose 0.45% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $55.48.
A look at the stock’s price movement, the close in the last trading session was $55.23. Turning to its 52-week performance, $82.81 and $45.15 were the 52-week high and 52-week low respectively. Overall, SLG moved 1.84% over the past month.
SL Green Realty Corp’s market cap currently stands at around $4.22 billion, with investors looking forward to this quarter’s earnings report slated for in June. The company has a Forward Dividend ratio of 3.04, with its dividend yield at 5.47%. 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 171.24M for the company’s revenue for the quarter, with a low and high estimate of 157.31M and 196.25M respectively. The average forecast suggests up to a 13.68% 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 673.23M, representing a 11.09% jump 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 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell 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 -0.84% and 0.52% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.19, while 7-day volatility ratio is 2.36% and 2.04% in the 30-day chart. Further, SL Green Realty Corp (SLG) has a beta value of 1.65, and an average true range (ATR) of 1.88. Analysts have given the company’s stock an average 52-week price target of $69, forecast between a low of $55 and high of $73. Looking at the price targets, the low is 0.87% off current price level while to achieve the yearly target high, price needs to move -31.58%. Nonetheless, investors will most likely welcome a -24.37% jump to $69 which is the analysts’ median price.
If we refocus on SL Green Realty Corp (NYSE:SLG), historical trading data shows that trading volumes averaged 902.25K over the past 3 months. The company’s latest data on shares outstanding shows there are 71.02 million shares.
The 6.67% of SL Green Realty Corp’s shares are in the hands of company insiders while institutional holders own 81.62% of the company’s shares. Current price change has pushed the stock -18.32% 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.
