Stocks of SL Green Realty Corp. (SLG) are poised to climb above their peers

SL Green Realty Corp. (NYSE: SLG) stock fell -1.33% on Monday to $40.78 against a previous-day closing price of $41.33. With 1.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.25 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $41.06 whereas the lowest price it dropped to was $40.08. The 52-week range on SLG shows that it touched its highest point at $47.32 and its lowest point at $19.06 during that stretch. It currently has a 1-year price target of $34.86. With its current market cap of 2.57 billion, SLG has annualized dividend of $3.25 while the current yield stands at 7.97%. Beta for the stock currently stands at 1.56.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SLG was up-trending over the past week, with a rise of 0.54%, but this was up by 27.52% over a month. Three-month performance surged to 53.42% while six-month performance rose 73.02%. The stock lost -10.96% in the past year, while it has gained 20.94% so far this year. A look at the trailing 12-month EPS for SLG yields -7.17 with Next year EPS estimates of -0.55. For the next quarter, that number is -0.22. This implies an EPS growth rate of -122.20% for this year and 86.10% for next year. EPS is expected to decline by -10.84% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -29.60%.

Float and Shares Shorts:

At present, 64.10 million SLG shares are outstanding with a float of 63.51 million shares on hand for trading. On Aug 30, 2023, short shares totaled 16.89 million, which was 26.23% higher than short shares on Jul 30, 2023. In addition to Mr. Marc Holliday as the firm’s Chairman & CEO, Mr. Andrew W. Mathias serves as its Pres & Director.

Institutional Ownership:

Through their ownership of 88.30% of SLG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.48% of SLG, in contrast to 35.64% held by mutual funds. Shares owned by individuals account for 0.54%. As the largest shareholder in SLG with 15.67% of the stake, The Vanguard Group, Inc. holds 10,092,430 shares worth 10,092,430. A second-largest stockholder of SLG, BlackRock Fund Advisors, holds 8,871,795 shares, controlling over 13.78% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SLG, holding 4,372,816 shares or 6.79% stake. With a 7.00% stake in SLG, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,505,402 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.18% of SLG stock, is the second-largest Mutual Fund holder. It holds 2,693,535 shares valued at 105.75 million. Vanguard Total Stock Market ETF holds 3.09% of the stake in SLG, owning 1,989,310 shares worth 78.1 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SLG analysts setting a high price target of $70.00 and a low target of $17.00, the average target price over the next 12 months is $34.64. Based on these targets, SLG could surge 71.65% to reach the target high and fall by -58.31% to reach the target low. Reaching the average price target will result in a decline of -15.06% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded SLG stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 6,800 shares were sold. The number of buy transactions has increased to 5 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 27,894 while 22,900 shares were sold.

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