SL Green Realty Corporation (SLG) : Traders are bullish on SL Green Realty Corporation (SLG) as it has outperformed the S&P 500 by a wide margin of 8.03% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.3%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.35% in the last 1 week, and is up 9.14% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.27% and the 50-Day Moving Average is 10.83%. SL Green Realty Corporation (NYSE:SLG): stock turned positive on Friday. Though the stock opened at $118.74, the bulls momentum made the stock top out at $120.63 level for the day. The stock recorded a low of $118.59 and closed the trading day at $119.15, in the green by 0.26%. The total traded volume for the day was 603,133. The stock had closed at $118.84 in the previous days trading.
The company Insiders own 3.09% of SL Green Realty Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.36% . During last six month period, the net percent change held by insiders has seen a change of -4.36%. Also, Morgan Stanley upgrades their rating on the shares of SL Green Realty Corporation (NYSE:SLG). The current rating of the shares is Overweight. Earlier, the shares were rated a Equal-weight by the brokerage firm. The rating by the firm was issued on July 25, 2016.
SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. It operates two segments: real estate and debt and preferred equity investments. The Company owns interests in commercial office properties in the New York Metropolitan area, primarily in midtown Manhattan. The Company also manages an approximately 336,201 square foot office building owned by a third party and held debt and preferred equity investments with a book value of approximately $1.4 billion. The Company also invests in well-collateralized debt and preferred equity investments.