On Friday, SL Green Realty Corp. [NYSE:SLG] has a current price of $51.44, coming out to a daily percentage change of -2.93% with a 52-week range of $35.16 – $96.39.
Other data for the company is as follows:
- Stochastic %K of 89.39
- Weighted Alpha of -38.8
Analysts have the price target for SL Green Realty Corp. [SLG] at 58.64. Daily swings are between $50.95 and $53.42.
The Bears are coming
Holding a Market Cap of $3.88 billion, SL Green Realty Corp. has seen a trading range over the last year of $35.16-$96.39.
For the last five days, SLG is up from its last closing price. The average shares trading hands each day is 1.29M, with average 10-day volume coming in at 1.3 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for SLG. When we apply the Elder Force Index to SL Green Realty Corp., we are seeing an Elder Force Indicator number of -1692139.65.
Recent Performance
The company’s enterprise value has gone from $10.21B to $9.57B quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, SLG made a profit of 34.01 million. SL Green Realty Corp. also saw quarter revenue growth year over year of -13.95%. In addition, the company has operating cash flow of $382.86 million.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 50.87 compared to the 50-day moving average of 48.10. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. SLG currently holds a 9-day RSI of 61.81%, while 100-day RSI stands at 48.23%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. SLG’s 9-day MACD is 2.40 and the company’s 100-day MACD stands at 3.37.
Inside Moves
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 0.46% by insiders and 108.05% by institutions. Regarding institutional holdings, Vanguard Group, Inc. (The) owns 17.73%, while the second top holder, Price (T.Rowe) Associates Inc, currently owns 12.49%.
Over the last six months, insiders have sold 65,578 with the most recent transaction from GREEN STEPHEN L, Director, with a sell at price 55.75 per share.
Conclusion
Overall, the recommended rating for SLG is Moderate Buy. Currently, the company has 4 analysts watching the stock, and the average quarterly earnings estimate is -0.22. Quarterly revenue estimates are averaging 200.83M with the high estimate reaching 210M and the low at 191.5M.
To review, the current 1-year target estimate is sitting at 58.64, while the current price 51.44. Based on this, we expect the stock to rise considering the aforementioned fundamentals.
