SL Green Realty Corporation (SLG) has risen sharply, recording gains of 0.55% in the past 4 weeks. However, the stock has corrected -3.11% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.16% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
SL Green Realty Corp. is up 17.08% in the last 3-month period. Year-to-Date the stock performance stands at 3.74%. The stock has recorded a 20-day Moving Average of 1.57% and the 50-Day Moving Average is 5.62%.
SL Green Realty Corporation (NYSE:SLG): The stock opened at $117.37 on Friday but the bulls could not build on the opening and the stock topped out at $117.37 for the day. The stock traded down to $115.10 during the day, due to lack of any buying support eventually closed down at $115.45 with a loss of -1.99% for the day. The stock had closed at $117.80 on the previous day. The total traded volume was 907,419 shares.
Also, In a research note released to the investors, Evercore ISI Group downgrades its rating on SL Green Realty Corporation (NYSE:SLG).The analysts at the brokerage house have a current rating of Hold on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on August 15, 2016.
SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. It operates two segments: real estate and debt and preferred equity investments. The Company owns interests in commercial office properties in the New York Metropolitan area, primarily in midtown Manhattan. The Company also manages an approximately 336,201 square foot office building owned by a third party and held debt and preferred equity investments with a book value of approximately $1.4 billion. The Company also invests in well-collateralized debt and preferred equity investments.