Compass Point has recently raised SL Green Realty Corp (SLG) stock to Neutral rating, as announced on September 18, 2024, according to Finviz. Earlier, on September 16, 2024, Evercore ISI had raised the stock rating, setting a price target of $66 for SLG stock. Citigroup also raised Neutral rating with a price target of $66. Additionally, Scotiabank raised Sector Perform rating on July 9, 2024, with a target price of $53. BMO Capital Markets analysts, in their report published on April 18, 2024, also raised Outperform rating and set a price target of $58 for SL Green Realty Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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SL Green Realty Corp (SLG) Stock Trading Recap
On Friday, SL Green Realty Corp (SLG) stock saw a decline, ending the day at $76.61 which represents a decrease of $-0.86 or -1.11% from the prior close of $77.47. The stock opened at $77.79 and touched a low of $76.57 during the day, reaching a high of $77.99. The volume of shares traded was 0.64 million falling short of the average volume of 0.72 million.
SLG Stock Performance and Moving Averages
In recent trading, SL Green Realty Corp (SLG) stock price has shown some volatility, fluctuating -2.74% over the last five trades and 10.29% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 51.37%, and it has gained 16.85% in the previous three months. Currently, SLG is trading at 7.05%, 11.17%, and 34.86% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, SLG, a Real Estate sector stock, is trading -3.12% below its 52-week high but remains 168.34% above its 52-week low. The Average True Range (ATR) (14 days) of 2.09 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
SL Green Realty Corp’s Profitability and Valuation Ratios
SL Green Realty Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 10.08% and a profit margin of -17.94%, with a gross margin of 51.37%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, SL Green Realty Corp’s market capitalization stands at $4.97 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 5.56, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.5, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.11% of SL Green Realty Corp (SLG)’s shares, while financial institutions hold 92.95%.
Notable insider trades include Brown Carol N, Director at SL Green Realty Corp (SLG), who sold 5118 shares on Feb 09 ’24, at $44.37 each, totaling $0.23 million. On Jan 26 ’24, HATKOFF CRAIG M, Director, sold 5100 shares for $46.75 each, amounting to $0.24 million. Additionally, on Jan 26 ’24, ATKINS BETSY S sold 9894 shares at $47.25 each, generating $0.47 million.
