Somewhat Favorable Press Coverage Somewhat Unlikely to Affect SL Green Realty (SLG) Stock Price
News stories about SL Green Realty (NYSE:SLG) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. SL Green Realty earned a daily sentiment score of 0.21 on Accern’s scale. Accern also gave media headlines about the real estate investment trust an impact score of 46.1741499507922 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Form 4 SL GREEN REALTY CORP For: Dec 12 Filed by: LEVY JOHN S (streetinsider.com)
- SL Green Realty Corp (SLG) Receives Average Rating of “Hold” from Analysts (americanbankingnews.com)
- $275.61 Million in Sales Expected for SL Green Realty Corp (SLG) This Quarter (americanbankingnews.com)
- John S. Levy Sells 6,000 Shares of SL Green Realty Corp (SLG) Stock (americanbankingnews.com)
SL Green Realty (NYSE SLG) traded down $2.63 during midday trading on Wednesday, reaching $98.99. 1,126,317 shares of the company were exchanged, compared to its average volume of 764,933. The company has a market capitalization of $10,199.00, a PE ratio of 16.55, a P/E/G ratio of 2.69 and a beta of 1.18. SL Green Realty has a twelve month low of $93.92 and a twelve month high of $115.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.11 and a current ratio of 0.11.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a $0.8125 dividend. The ex-dividend date is Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a yield of 3.28%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s payout ratio is presently 300.97%.
SL Green Realty announced that its Board of Directors has authorized a stock buyback program on Friday, December 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
Several research analysts have recently issued reports on SLG shares. KeyCorp restated a “buy” rating and set a $130.00 price objective on shares of SL Green Realty in a report on Friday, August 25th. Morgan Stanley restated an “equal weight” rating and set a $104.00 price objective (down previously from $106.00) on shares of SL Green Realty in a report on Friday, September 1st. BMO Capital Markets dropped their price objective on shares of SL Green Realty from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, September 21st. Zacks Investment Research downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, SunTrust Banks set a $115.00 target price on shares of SL Green Realty and gave the company a “buy” rating in a research note on Saturday, October 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $115.62.
In other SL Green Realty news, Director John S. Levy sold 6,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were 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 $2,253,201.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.99% of the stock is currently owned by corporate insiders.
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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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