News stories about SL Green Realty (NYSE:SLG) have trended somewhat positive recently, according to Accern. The research group identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. SL Green Realty earned a news impact score of 0.21 on Accern’s scale. Accern also gave press coverage about the real estate investment trust an impact score of 46.0305709976468 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- L.A. sees more profits than Manhattan in office real estate (crainsnewyork.com)
- SL Green Realty (SLG) Downgraded by SunTrust Banks (americanbankingnews.com)
- SL Green Realty Corp (SLG) Expected to Post Quarterly Sales of $255.96 Million (americanbankingnews.com)
- Former SL Green Exec, Massey Mayoral Adviser David Amsterdam Lands at Colliers (commercialobserver.com)
- Evercore ISI Downgrades SL Green Realty (SLG) to Underperform (streetinsider.com)
Shares of SL Green Realty (SLG) traded up $0.14 on Friday, reaching $99.61. 799,569 shares of the company were exchanged, compared to its average volume of 963,484. SL Green Realty has a 52-week low of $89.46 and a 52-week high of $110.16. The stock has a market capitalization of $8,997.47, a PE ratio of 113.19, a PEG ratio of 2.46 and a beta of 1.11. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.45.
SL Green Realty declared that its board has approved a share repurchase plan on Friday, December 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
SLG has been the subject of several research analyst reports. SunTrust Banks cut SL Green Realty from a “buy” rating to a “hold” rating and set a $108.00 price objective for the company. in a report on Friday. Evercore ISI cut shares of SL Green Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, March 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $115.00 price objective on shares of SL Green Realty in a research report on Tuesday, February 27th. Jefferies Group assumed coverage on shares of SL Green Realty in a research report on Monday, February 26th. They set a “buy” rating for the company. Finally, ValuEngine cut shares of SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $114.25.
In other SL Green Realty news, Director John S. Levy sold 6,000 shares of SL Green Realty stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $103.23, for a total value of $619,380.00. Following the transaction, the director now directly owns 21,827 shares in the company, valued at $2,253,201.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Holliday sold 160,000 shares of SL Green Realty stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $100.63, for a total transaction of $16,100,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,400 shares of company stock worth $17,038,862. 3.09% of the stock is currently owned by company insiders.
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About SL Green Realty
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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