In a report released yesterday, Nicholas Yulico from UBS reiterated a Hold rating on SL Green Realty (NYSE: SLG), with a price target of $115. The company’s shares opened today at $118.74, close to its 52-week high of $121.94.
Yulico said, “This morning SLG announced the 40% interest sale of 11 Madison to PGIM Real Estate (Prudential) for a gross valuation of $2.6bn. SLG initially purchased the asset back in May 2015 for $2.6bn (4.6% stabilized cash cap rate), which included $300m of expenses for lease stipulated improvements.”
According to TipRanks.com, Yulico is a 1-star analyst with an average return of -1.1% and a 52.2% success rate. Yulico covers the Financial sector, focusing on stocks such as Senior Housing Properties Trust, Hudson Pacific Properties, and Apartment Inv. & Mgmt.
SL Green Realty has an analyst consensus of Moderate Buy, with a price target consensus of $124.20
.
SL Green Realty`s market cap is currently $11.8B and has a P/E ratio of 28.32. The company has a book value ratio of 1.6760%.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Marc Holliday, a the CEO of SLG bought 37,340 shares for a total of $1,009,066.
SL Green Realty Corp. operates as an integrated real estate investment trust that is engaged in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. It operates through two operating segments: Real Estate, and Debt and Preferred Equity Investments. The Real Estate segment portfolio is primarily located in the geographical markets of the New York Metropolitan area. The Debt and Preferred Equity Investments segments investments are concentrated in Manhattan. The company was founded by Stephen L. Green in June 1997 and is headquartered in New York, NY.
The post SL Green Realty Receives a Hold from UBS appeared first on Markets.co.