Office REITs haven't recovered from Covid as workers resist returning to the office and rising interest rates are eating into revenues. SLG is down 33% YTD as it suffered two downgrades and price targets slashed yesterday: ugly balance sheet and many older buildings with little demand. Debt to EBITDA is the worst int his group. SLG plans to sell over $2 billion in properties, but who wants to buy an office building now? Paying 15% now, a dividend cut in inevitable. This is ugly all around.

She bought this much higher. SLG is very undervalued now. They hold high-end office spaces, pays a 9% dividend yield and 94% occupancy rate.
Businesses have adopted a hybrid work model with only part of the week spent in offices. This trend has obliterated the office REITs like SLG. SLG forecast a brutal 2023 where funds from operations will slide over 20% compared to 2022, and they cut their dividend.

Properties in Manhattan. Sold off drastically recently and thinks there are neat opportunities here.

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SL Green Realty Corp(SLG-N) Rating

Ranking : 3 out of 5

Bullish - Buy Signals / Votes : 1

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 2

Total Signals / Votes : 3

Stockchase rating for SL Green Realty Corp is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

SL Green Realty Corp(SLG-N) Frequently Asked Questions

What is SL Green Realty Corp stock symbol?

SL Green Realty Corp is a American stock, trading under the symbol SLG-N on the New York Stock Exchange (SLG). It is usually referred to as NYSE:SLG or SLG-N

Is SL Green Realty Corp a buy or a sell?

In the last year, 3 stock analysts published opinions about SLG-N. 1 analyst recommended to BUY the stock. 2 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for SL Green Realty Corp.

Is SL Green Realty Corp a good investment or a top pick?

SL Green Realty Corp was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for SL Green Realty Corp.

Why is SL Green Realty Corp stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is SL Green Realty Corp worth watching?

3 stock analysts on Stockchase covered SL Green Realty Corp In the last year. It is a trending stock that is worth watching.

What is SL Green Realty Corp stock price?

On 2023-06-05, SL Green Realty Corp (SLG-N) stock closed at a price of $23.34.