The stock of SL Green Realty Corp. (NYSE:SLG) increased by $0.16 on Tuesday to finish at $40.94, up 0.39 percent. The last five days have seen an average of 1,997,300 shares of common stock traded. 9 times new highs were reached in the current year, with a gain of $7.22. The average number of shares traded over the last 20 days was 1,488,705, while the average volume over the last 50 days totaled 1,808,800.
SLG stock appreciated 26.91% since last month. On 08/21/23, the company’s shares reached a one-month low of $31.63. The stock touched a high of $47.32 on 02/02/23, after rallying from a low of $19.06 in 52 weeks. The price of SLG stock has risen by 21.41% or $7.22 this year, reaching a new high 9 times. Still, the stock price is down -13.48% from the 52-week high.
Insider Transactions
SLG stock investors should be aware that SL Green Realty Corp. (SLG) stock had its last reported insider trading activity 37 days ago on Aug 14. On Aug 14, Director BURTON EDWIN T III sold 6,800 shares at $34.30 each. This transaction resulted in the insider making $233,241. On May 16, ATKINS BETSY S sold 5,000 shares at a price of US$21.47. After the transaction, the insider now owns 11,662 shares. CHIEF FINANCIAL OFFICER DiLiberto Matthew J. had earlier bought 10,000 shares on Mar 24 for $16.44 a share. The transaction was completed for $164,400.
Valuation Metrics
Beta for the stock is 1.56. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.92, the price-to-book (PB) ratio of 0.68.
Company paid $0.2710 per share in dividends, remained unchanged from $0.2710 last year. A $0.0002 dividend increase was reported on Monday August 21 2023.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.01, and the total debt to equity ratio is 1.01. As far as profitability goes, gross margin for the trailing twelve months is 57.40% percent. SL Green Realty Corp.’s operating margin stood at 15.60% for the same period. Based on annual data, it had gross profit of $170.18 million and revenue of $826.74 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SLG’s return on assets (ROA) during the last 12 months has been -3.90%. There was a 1.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -10.80%.
Earnings Surprise
According to SL Green Realty Corp.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $221.07 million, while revenues rose by 8.88% to $223.58 million. It was predicted that SL Green Realty Corp.’s quarterly earnings would be -$5.63, but it ended up being -$0.74, beating the consensus by -660.80%. EBITDA was $104.57 million for the quarter. At the end of SL Green Realty Corp.’s most recent quarter ended June 29, its total debt was $4.81 billion. Equity owned by shareholders amounts to $64.39 million.
Technical Picture
Here’s a quick look at SL Green Realty Corp.’s (SLG) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 64.95%, suggesting the stock is Neutral, with a 30.11% historical volatility rate.
The stochastic %K and %D were 86.20% and 86.50% respectively, while the average true range (ATR) was 1.55. Based on the 14-day stochastic reading of 75.25%, the RSI (14) reading is 64.43%. On the 9-day MACD Oscillator, the stock is at 0.54, and the 14-day reading is at 1.15.
Analyst Ratings
SL Green Realty Corp. (NYSE: SLG) was downgraded by BMO Capital Markets to a a Market perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned SL Green Realty Corp. (SLG) an Hold rating. SLG is a stock that is recommended for selling by 5 brokerage firms, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.
What is SLG’s price target for the next 12 months?
The current consensus forecast for the stock is between $17.00 and $70.00, with a median target price of $32.50. In analyzing these forecasts, the average price target given by analysts for SL Green Realty Corp. (SLG) is $34.64.
