The stock of SL Green Realty Corp. (NYSE: SLG) has decreased by -1.10 when compared to last closing price of 51.73. Despite this, the company has experienced a -4.80% fall in its stock price over the last five trading sessions. Seeking Alpha reported 2024-04-02 that Most REITs are cheap, but not all REITs are worth buying. Some REITs own challenged properties. Others are overleveraged. I highlight two examples to avoid.
Is It Worth Investing in SL Green Realty Corp. (NYSE: SLG) Right Now?
Company’s 36-month beta value is 1.71.Analysts have differing opinions on the stock, with 7 analysts rating it as a “buy,” 2 as “overweight,” 10 as “hold,” and 0 as “sell.”
The public float for SLG is 64.72M, and currently, short sellers hold a 21.73% ratio of that floaft. The average trading volume of SLG on April 05, 2024 was 1.31M shares.
SLG’s Market Performance
The stock of SL Green Realty Corp. (SLG) has seen a -4.80% decrease in the past week, with a 3.25% rise in the past month, and a 16.19% gain in the past quarter. The volatility ratio for the week is 3.76%, and the volatility levels for the past 30 days are at 3.68% for SLG. The simple moving average for the last 20 days is -1.34% for SLG stock, with a simple moving average of 29.42% for the last 200 days.
Analysts’ Opinion of SLG
Many brokerage firms have already submitted their reports for SLG stocks, with Barclays repeating the rating for SLG by listing it as a “Equal Weight.” The predicted price for SLG in the upcoming period, according to Barclays is $48 based on the research report published on March 27, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see SLG reach a price target of $44. The rating they have provided for SLG stocks is “Underperform” according to the report published on March 18th, 2024.
Deutsche Bank gave a rating of “Hold” to SLG, setting the target price at $50 in the report published on January 30th of the current year.
SLG Trading at 5.80% from the 50-Day Moving Average
After a stumble in the market that brought SLG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -8.23% of loss for the given period.
Volatility was left at 3.68%, however, over the last 30 days, the volatility rate increased by 3.76%, as shares surge +1.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.95% upper at present.
During the last 5 trading sessions, SLG fell by -4.80%, which changed the moving average for the period of 200-days by +92.48% in comparison to the 20-day moving average, which settled at $51.88. In addition, SL Green Realty Corp. saw 13.26% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SLG starting from Brown Carol N, who sale 5,118 shares at the price of $44.37 back on Feb 09 ’24. After this action, Brown Carol N now owns 0 shares of SL Green Realty Corp., valued at $227,086 using the latest closing price.
ATKINS BETSY S, the Director of SL Green Realty Corp., sale 9,894 shares at $47.25 during a trade that took place back on Jan 26 ’24, which means that ATKINS BETSY S is holding 6,886 shares at $467,492 based on the most recent closing price.
Stock Fundamentals for SLG
Current profitability levels for the company are sitting at:
- -0.2 for the present operating margin
- 0.61 for the gross margin
The net margin for SL Green Realty Corp. stands at -0.96. The total capital return value is set at -0.02. Equity return is now at value -12.85, with -5.12 for asset returns.
Based on SL Green Realty Corp. (SLG), the company’s capital structure generated 0.51 points at debt to capital in total, while cash flow to debt ratio is standing at 0.06. The debt to equity ratio resting at 1.02. The interest coverage ratio of the stock is -1.2.
Currently, EBITDA for the company is 298.92 million with net debt to EBITDA at 49.16. When we switch over and look at the enterprise to sales, we see a ratio of 8.92. The receivables turnover for the company is 2.68for trailing twelve months and the total asset turnover is 0.09.
Conclusion
In a nutshell, SL Green Realty Corp. (SLG) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
