Notable Mover: What’s Propelling SL Green Realty Corp to Decline So Much?

Notable Mover: What's Propelling SL Green Realty Corp to Decline So Much?

The stock of SL Green Realty Corp (NYSE:SLG) is a huge mover today! The stock decreased 2.30% or $2.44 on October 5, hitting $103.58. SL Green Realty Corp (NYSE:SLG) has risen 12.44% since March 2, 2016 and is uptrending. It has outperformed by 4.18% the S&P500.
The move comes after 5 months negative chart setup for the $10.40B company. It was reported on Oct, 6 by We have $96.33 PT which if reached, will make NYSE:SLG worth $728.00M less.

Analysts await SL Green Realty Corp (NYSE:SLG) to report earnings on October, 19. They expect $1.52 earnings per share, down 11.11% or $0.19 from last year’s $1.71 per share. SLG’s profit will be $152.62M for 17.04 P/E if the $1.52 EPS becomes a reality. After $3.41 actual earnings per share reported by SL Green Realty Corp for the previous quarter, Wall Street now forecasts -55.43% negative EPS growth.

SL Green Realty Corp (NYSE:SLG) Ratings Coverage

Out of 17 analysts covering SL Green Realty Corp. (NYSE:SLG), 9 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 53% are positive. SL Green Realty Corp. has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Tuesday, April 12, the company rating was upgraded by Credit Suisse. BTIG Research initiated the shares of SLG in a report on Thursday, August 25 with “Neutral” rating. The stock of SL Green Realty Corp (NYSE:SLG) earned “Neutral” rating by Goldman Sachs on Friday, February 19. The rating was downgraded by Evercore to “Hold” on Monday, August 15. TheStreet upgraded the stock to “Buy” rating in Friday, October 23 report. The rating was downgraded by Stifel Nicolaus to “Hold” on Thursday, August 20. The firm has “Buy” rating given on Tuesday, August 23 by Jefferies. The stock has “Buy” rating given by Zacks on Monday, August 24. Stifel Nicolaus upgraded the stock to “Buy” rating in Wednesday, September 9 report. The rating was upgraded by SunTrust on Friday, January 22 to “Buy”.

According to Zacks Investment Research, “SL Green Realty Corporation is a fully-integrated, self administered and self-managed real estate investment trust and was formed for the purpose of continuing the commercial real estate business of SL Green. For more than 18 years, SL Green has been engaged in the business of owning, managing, leasing, acquiring and repositioning Class B office properties in Manhattan.”

Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.11, from 1.13 in 2016Q1. The ratio improved, as 31 funds sold all SL Green Realty Corp shares owned while 105 reduced positions. 37 funds bought stakes while 131 increased positions. They now own 103.14 million shares or 1.29% less from 104.49 million shares in 2016Q1.
State Of Alaska Department Of Revenue owns 37,510 shares or 0.42% of their US portfolio. State Of Tennessee Treasury Department holds 0.01% of its portfolio in SL Green Realty Corp (NYSE:SLG) for 22,208 shares. Moreover, Ladenburg Thalmann Financial has 0% invested in SL Green Realty Corp (NYSE:SLG) for 847 shares. The Pennsylvania-based Tfs Cap Ltd Limited Liability Company has invested 0.42% in SL Green Realty Corp (NYSE:SLG). Blackrock Institutional Tru Na has 0.07% invested in the company for 3.80M shares. First Personal Financial Service reported 40 shares or 0% of all its holdings. Commonwealth Of Pennsylvania Pub School Empls Retrmt holds 8,026 shares or 0.02% of its portfolio. The Kentucky-based Teachers Retirement Systems Of The State Of Kentucky has invested 0.02% in SL Green Realty Corp (NYSE:SLG). First Quadrant L P Ca last reported 400 shares in the company. The Alabama-based Andra Ap has invested 0.06% in SL Green Realty Corp (NYSE:SLG). Alyeska Investment Grp L P holds 0.03% or 28,697 shares in its portfolio. Herndon Management Ltd Co holds 9 shares or 0% of its portfolio. Moreover, Toronto Dominion Savings Bank has 0% invested in SL Green Realty Corp (NYSE:SLG) for 550 shares. Price T Rowe Assoc Md reported 3.78 million shares or 0.09% of all its holdings. Canada Pension Plan Invest Board has 22,810 shares for 0.01% of their US portfolio.

Insider Transactions: Since April 25, 2016, the stock had 2 insider purchases, and 4 sales for $5.68 million net activity. $4.02M worth of shares were sold by LEVINE ANDREW S on Monday, April 25. On Monday, July 25 the insider HATKOFF CRAIG M sold $2.37 million. 12,000 shares were sold by LEVY JOHN S, worth $1.26M. Shares for $1.01 million were bought by HOLLIDAY MARC. 300 shares were sold by BURTON EDWIN T III, worth $34,950.

More notable recent SL Green Realty Corp (NYSE:SLG) news were published by: which released: “SL Green Sells a 40% Stake in Manhattan’s 11 Madison Ave.” on August 11, 2016, also with their article: “SL Green Inks 308000 Sq. Ft. 30-Year Leasehold Condominium Conveyance at 220 …” published on September 28, 2016, published: “YieldBoost SL Green Realty Corp From 2.5% To 12.6% Using Options” on September 23, 2016. More interesting news about SL Green Realty Corp (NYSE:SLG) were released by: and their article: “SL Green Realty Corp. President to Participate in the Bank of America Merrill …” published on September 06, 2016 as well as‘s news article titled: “SL Green Realty Corp. Reports Second Quarter 2016 FFO of $3.41 Per Share …” with publication date: July 20, 2016.

SLG Company Profile

SL Green Realty Corp., incorporated on June 10, 1997, is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Firm acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area. It operates through two divisions: real estate, and debt and preferred equity investments. Reckson Associates Realty Corp. (Reckson) and Reckson Operating Partnership, L.P. (ROP), are subsidiaries of the Company.

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