SL Green Realty (SLG) Given Daily News Sentiment Rating of 0.08
Media stories about SL Green Realty (NYSE:SLG) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. SL Green Realty earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave media coverage about the real estate investment trust an impact score of 48.4969637976426 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:
- Mystery buyer of SL Green’s 600 Lex (therealdeal.com)
- SL Green Names New COO (cpexecutive.com)
- SL Green Realty Corp (SLG) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
- SL Green Announces Promotion of Edward V. Piccinich to Chief Operating Officer (finance.yahoo.com)
SL Green Realty (SLG) traded down $0.26 during mid-day trading on Friday, reaching $95.47. The company’s stock had a trading volume of 616,582 shares, compared to its average volume of 867,936. The company has a market cap of $9,406.98, a PE ratio of 92.69, a price-to-earnings-growth ratio of 2.38 and a beta of 1.18. SL Green Realty has a 1 year low of $93.92 and a 1 year high of $115.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.38.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.8125 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. This represents a $3.25 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 29th. SL Green Realty’s dividend payout ratio is 315.54%.
SL Green Realty announced that its board has initiated a stock repurchase program on Friday, December 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Several research analysts have weighed in on SLG shares. Stifel Nicolaus lowered their price objective on SL Green Realty from $112.00 to $105.00 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Zacks Investment Research upgraded SL Green Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. BMO Capital Markets lowered their price objective on SL Green Realty from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 21st. BTIG Research upgraded SL Green Realty from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, KeyCorp set a $130.00 price objective on SL Green Realty and gave the stock a “buy” rating in a research report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $115.50.
In other news, Director John S. Levy sold 6,000 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total transaction of $619,380.00. Following the sale, the director now directly owns 21,827 shares of the company’s stock, valued at approximately $2,253,201.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Holliday sold 160,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $100.63, for a total value of $16,100,800.00. The disclosure for this sale can be found here. Corporate insiders own 3.09% of the company’s stock.
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About SL Green Realty
SL Green Realty Corp. 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 Company operates through two segments: real estate, and debt and preferred equity investments.
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