As of Friday close, SL Green Realty Corp.’s (NYSE:SLG) stock was down -$0.55, moving down -1.47 percent to $36.89. The average number of shares traded per day over the past five days has been 2,358,520 shares. 3 times new highs have been achieved over the past 5 days, with a -$4.44 fall in that time frame. In the last twenty days, the average volume was 1,771,825, while in the previous 50 days, it was 1,850,776.
Since last month, SLG stock rose 5.01%. Shares of the company fell to $32.61 on 08/23/23, the lowest level in the past month. A 52-week high of $44.65 was reached on 02/02/23 after having rallying from a 52-week low of $19.06. Since the beginning of this year, SLG’s stock price has risen by 9.40% or $3.17, and marked a new high 9 times. However, the stock has declined by -17.38% since its 52-week high.
SLG stock investors should be aware that SL Green Realty Corp. (SLG) stock had its last reported insider trading activity 40 days ago on Aug 14. BURTON EDWIN T III, the Director of the company, disposed of 6,800 shares for $34.30 on Aug 14. It resulted in a $233,241 divestment by the insider. ATKINS BETSY S sold 5,000 shares at an average price of $21.47 on May 16. The insider now owns 11,662 shares following the transaction. On Mar 24, CHIEF FINANCIAL OFFICER DiLiberto Matthew J. bought 10,000 shares at $16.44 apiece. The transaction was valued at $164,400.
Valuation Metrics
The stock’s beta is 1.56. Besides these, the trailing price-to-sales (P/S) ratio of 2.63, the price-to-book (PB) ratio of 0.61.
The latest dividend of $0.2710 per share was paid out, remained unchanged from last year’s $0.2710. On Monday August 21 2023, a $0.0002 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.01, and the total debt-to-equity ratio was 1.01. On the profitability front, the trailing twelve-month gross margin is 57.40% percent. In the year ended June 29, operating margins totaled 15.60%. Based on annual data, SLG earned $170.18 million in gross profit and brought in $826.74 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 1.80%. Return on equity (ROE) for the past 12 months was -10.80%.
In SL Green Realty Corp.’s quarter-end financial report for June 29, it reported total debt of $1.51 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. SLG’s revenue rose 8.88% to $223.58 million during the quarter, while net income inched up to $221.07 million. While analysts expected SL Green Realty Corp. to report -$0.74 quarterly earnings, the actual figure was -$5.63 per share, beating the consensus estimate by -660.80%. During the quarter, the company generated $104.57 million in EBITDA. The value of shareholders’ equity is $64.39 million.
Technical Picture
This quick technical analysis looks at SL Green Realty Corp.’s (SLG) price momentum. With a historical volatility rate of 58.91%, the RSI 9-day stood at 36.89% on 22 September.
With respect to its five-day moving average, the current SL Green Realty Corp. price is down by -10.74% percent or -$4.44. At present, SLG shares trade +4.21% above its 20-day simple moving average and +56.65% percent above its 100-day simple moving average. However, the stock is currently trading approximately +14.18% above its SMA50 and -3.07% below its SMA200.
Stochastic coefficient K was 27.37% and Stochastic coefficient D was 51.23%, while ATR was 1.89. Given the Stochastic reading of 9.25% for the 14-day period, the RSI (14) reading has been calculated as 44.61%. As of today, the MACD Oscillator reading stands at -1.36, while the 14-day reading stands at -1.19.
Analyst Ratings
SL Green Realty Corp. downgraded its rating on SL Green Realty Corp. (NYSE: SLG) to a Market perform in a note to investors on August 17, 2023. The analysts firm previously had an Outperform rating on the stock.SL Green Realty Corp. (SLG) has been rated Hold by analysts. According to 5 brokerage firms, SLG is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate SL Green Realty Corp. stock as buy, with 3 recommending it as overweight.
With a median target price of $32.50, the current consensus forecast for the stock is $17.00 – $70.00. Based on these forecasts, analysts predict SL Green Realty Corp. (SLG) will achieve an average price target of $34.64.
