In the past week, SLG stock has gone up by 11.36%, with a monthly gain of 4.17% and a quarterly surge of 23.49%. The volatility ratio for the week is 2.63%, and the volatility levels for the last 30 days are 2.55% for SL Green Realty Corp. The simple moving average for the last 20 days is 7.70% for SLG stock, with a simple moving average of 34.37% for the last 200 days.
Is It Worth Investing in SL Green Realty Corp. (NYSE: SLG) Right Now?
The stock has a 36-month beta value of 1.83. Opinions on the stock are mixed, with 7 analysts rating it as a “buy,” 2 as “overweight,” 10 as “hold,” and 0 as “sell.”
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The public float for SLG is 64.74M, and at present, short sellers hold a 13.96% of that float. On October 17, 2024, the average trading volume of SLG was 746.88K shares.
SLG) stock’s latest price update
SL Green Realty Corp. (NYSE: SLG)’s stock price has surge by 3.24relation to previous closing price of 72.69. Nevertheless, the company has seen a 11.36% surge in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-17 that SL Green Realty’s Q3 results were solid with strong leasing activity and cost control, but the stock’s valuation now reflects these improvements. Despite initial fears, office occupancy has been better than expected, particularly in Manhattan, with significant renewals like Bloomberg’s 11-year lease. SLG’s balance sheet remains debt-heavy, making the stock volatile, but recent refinancing and property openings have improved its positioning.
Analysts’ Opinion of SLG
Many brokerage firms have already submitted their reports for SLG stocks, with Compass Point repeating the rating for SLG by listing it as a “Neutral.” The predicted price for SLG in the upcoming period, according to Compass Point is $60 based on the research report published on September 18, 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 $66, previously predicting the price at $55. The rating they have provided for SLG stocks is “In-line” according to the report published on September 16th, 2024.
Citigroup gave a rating of “Neutral” to SLG, setting the target price at $66 in the report published on September 13th of the current year.
SLG Trading at 11.76% 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 able to rebound, for now settling with 1.68% of gains for the given period.
Volatility was left at 2.55%, however, over the last 30 days, the volatility rate increased by 2.63%, as shares surge +3.14% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +21.11% upper at present.
During the last 5 trading sessions, SLG rose by +10.52%, which changed the moving average for the period of 200-days by +62.20% in comparison to the 20-day moving average, which settled at $69.65. In addition, SL Green Realty Corp. saw 66.14% 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.
HATKOFF CRAIG M, the Director of SL Green Realty Corp., sale 5,100 shares at $46.75 during a trade that took place back on Jan 26 ’24, which means that HATKOFF CRAIG M is holding 2,070 shares at $238,425 based on the most recent closing price.
Stock Fundamentals for SLG
Current profitability levels for the company are sitting at:
- 0.18 for the present operating margin
- 0.5 for the gross margin
The net margin for SL Green Realty Corp. stands at -0.19. The total capital return value is set at 0.02. Equity return is now at value -3.45, with -1.38 for asset returns.
Based on SL Green Realty Corp. (SLG), the company’s capital structure generated 0.48 points at debt to capital in total, while cash flow to debt ratio is standing at 0.05. The debt to equity ratio resting at 0.94. The interest coverage ratio of the stock is 1.18.
Currently, EBITDA for the company is 298.92 million with net debt to EBITDA at 12.28. When we switch over and look at the enterprise to sales, we see a ratio of 11.29. The receivables turnover for the company is 2.5for trailing twelve months and the total asset turnover is 0.08.
Conclusion
To sum up, SL Green Realty Corp. (SLG) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
