SL Green Realty Corp. (NYSE:SLG) finished Friday with an addition of $0.52 to close at $37.30, an upside of 1.41 percent. An average of 2,197,380 shares of common stock have been traded in the last five days. There was a gain of $0.41 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 1,971,845 shares traded, while the 50-day average volume stands at 1,765,870.
SLG stock has decreased by -3.19% in the last month. The company shares reached their 1-month lowest point of $34.51 on 09/27/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $19.06 and a high of $44.65 in 52 weeks. It has reached a new high 9 times so far this year and achieved 10.62% or $3.58 in price. In spite of this, the price is down -16.46% 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 47 days ago on Aug 14. In this transaction, the insider spent $233,241. Director, ATKINS BETSY S, disposed of 5,000 shares at a price of $21.47 on May 16. The insider now owns more than $107,350 worth of shares. Prior to that, Director HATKOFF CRAIG M went on to Sale 9,000 shares at $34.31 each on Mar 03. An amount of $308,790 was transacted.
Valuation Metrics
SL Green Realty Corp. (SLG) stock’s beta is 1.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.80, the price-to-book (PB) ratio at 0.66, and the price-to-cash flow ratio at 65.25.
Financial Health
Further, the company has a long term debt to equity ratio of 1.07 and a total debt to equity ratio of 1.13 for the quarter ending June 29. Its gross profit as reported stood at $170.18 million compared to revenue of $826.74 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, SL Green Realty Corp.’s return on assets was -4.22%.
Earnings Surprise
For the three-month period that ended June 29, SL Green Realty Corp. had $1.51 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$360.19 million in the quarter, while revenues of -$39.73 million were grew 87.82%. The analyst consensus anticipated SL Green Realty Corp.’s latest quarter earnings to come in at -$0.74 per share, but it turned out to be -$5.63, a -660.80% surprise. For the quarter, EBITDA amounted to $104.57 million. At the end of the quarter ending June 29, SL Green Realty Corp.’s stock balance sheet showed total debt was $4.81 billion. Shareholders own equity worth $64.39 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at SL Green Realty Corp. (SLG) price momentum. RSI 9-day as of the close on 29 September was 46.61%, suggesting the stock is Neutral, with historical volatility in this time frame at 61.04%.
As of today, SLG’s price is $36.23 +1.11% or $0.41 from its 5-day moving average. SLG is currently trading -4.99% lower than its 20-day SMA and +69.55% higher than its 100-day SMA. However, the stock’s current price level is +10.98% above the SMA50 and +3.55% above the SMA200.
The stochastic %K and %D were 22.99% and 15.48%, respectively, and the average true range (ATR) was 1.77. With the 14-day stochastic at 32.23% and the average true range at 1.74, the RSI (14) stands at 48.69%. The stock has reached -1.04 on the 9-day MACD Oscillator while the 14-day reading was at -2.12.
Analyst Ratings
Compass Point launched coverage on SL Green Realty Corp. (NYSE: SLG) in its analyst report released on September 26, 2023. The firm assigned the stock a Sell rating. The consensus rating for SL Green Realty Corp. (SLG) among analysts is Hold. According to current brokerage recommendations, 6 brokerage firms advise that investors sell SLG, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 3 others rate it as a “buy”.
What is SLG’s price target for the next 12 months?
Analysts predict a range of price targets between $17.00 and $70.00, with a median target of $32.00. Taking a look at these predictions, the average price target given by analysts for SL Green Realty Corp. (SLG) stock is $34.13.
