Short Interest: Could SL Green Realty Corporation (NYSE:SLG) See a Reversal After More Sellers Came In?

November 16, 2016 - By Marie Mckinney   ·   0 Comments

Short Interest: Could SL Green Realty Corporation (NYSE:SLG) See a Reversal After More Sellers Came In?

The stock of SL Green Realty Corporation (NYSE:SLG) registered an increase of 0.89% in short interest. SLG’s total short interest was 4.93 million shares in November as published by FINRA. Its up 0.89% from 4.89M shares, reported previously. With 663,600 shares average volume, it will take short sellers 7 days to cover their SLG’s short positions. The short interest to SL Green Realty Corporation’s float is 4.95%. The stock closed at $106.11 during the last session. It is down 6.93% since April 14, 2016 and is uptrending. It has outperformed by 2.25% the S&P500.

SL Green Realty Corp. is a self-managed real estate investment trust, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The company has a market cap of $11.02 billion. The Firm acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area. It has a 36.79 P/E ratio. It operates through two divisions: real estate, and debt and preferred equity investments.

Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.11, from 1.13 in 2016Q1. The ratio improved, as 31 funds sold all SL Green Realty Corp shares owned while 105 reduced positions. 37 funds bought stakes while 131 increased positions. They now own 103.14 million shares or 1.29% less from 104.49 million shares in 2016Q1.
State Of Wisconsin Inv Board has 97,584 shares for 0.04% of their US portfolio. Aviva Public Ltd Com, a United Kingdom-based fund reported 59,485 shares. Westport Inc, a Connecticut-based fund reported 71 shares. 1St Global Advsr holds 0.11% of its portfolio in SL Green Realty Corp (NYSE:SLG) for 7,511 shares. Bnp Paribas Invest Ptnrs accumulated 61,797 shares or 0.06% of the stock. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment holds 0.05% of its portfolio in SL Green Realty Corp (NYSE:SLG) for 37,420 shares. The Australia-based Westpac has invested 0% in SL Green Realty Corp (NYSE:SLG). The New York-based Alpine Woods Capital Investors Ltd Company has invested 0.23% in SL Green Realty Corp (NYSE:SLG). Oregon Pub Employees Retirement Fund holds 0.03% or 13,637 shares in its portfolio. Suntrust Banks Inc last reported 0% of its portfolio in the stock. Schroder Invest Mngmt Group accumulated 4,844 shares or 0% of the stock. Teton Advisors Incorporated accumulated 5,002 shares or 0.05% of the stock. Renaissance Limited Liability Company accumulated 0.01% or 2,999 shares. Alps holds 0.01% or 11,305 shares in its portfolio. Piedmont Advsrs reported 2 shares or 0% of all its holdings.

Insider Transactions: Since July 25, 2016, the stock had 2 insider purchases, and 2 insider sales for $389,583 net activity. 37,340 shares with value of $1.01 million were bought by HOLLIDAY MARC on Thursday, July 28. Shares for $2.37 million were sold by HATKOFF CRAIG M. BURTON EDWIN T III had sold 300 shares worth $34,950.

SL Green Realty Corp (NYSE:SLG) Ratings Coverage

Out of 17 analysts covering SL Green Realty Corp. (NYSE:SLG), 8 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 47% are positive. SL Green Realty Corp. has been the topic of 42 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by BMO Capital Markets on Thursday, September 10. On Friday, October 23 the stock rating was upgraded by TheStreet to “Buy”. Goldman Sachs upgraded SL Green Realty Corp (NYSE:SLG) on Friday, February 19 to “Neutral” rating. Suntrust Robinson upgraded the stock to “Buy” rating in Friday, January 22 report. Credit Suisse upgraded the shares of SLG in a report on Tuesday, April 12 to “Neutral” rating. The stock of SL Green Realty Corp (NYSE:SLG) earned “Hold” rating by Evercore on Tuesday, September 8. As per Monday, August 24, the company rating was downgraded by Zacks. Barclays Capital maintained SL Green Realty Corp (NYSE:SLG) rating on Thursday, February 11. Barclays Capital has “Equal-Weight” rating and $97 price target. Stifel Nicolaus downgraded SL Green Realty Corp (NYSE:SLG) on Monday, October 24 to “Hold” rating. The rating was maintained by Barclays Capital with “Equalweight” on Tuesday, July 19.

SLG Company Profile

SL Green Realty Corp., incorporated on June 10, 1997, 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 Firm acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area. It operates through two divisions: real estate, and debt and preferred equity investments. Reckson Associates Realty Corp. (Reckson) and Reckson Operating Partnership, L.P. (ROP), are subsidiaries of the Company.

More important recent SL Green Realty Corp (NYSE:SLG) news were published by: Forbes.com which released: “Relative Strength Alert For SL Green Realty” on November 01, 2016, also Bloomberg.com published article titled: “SL Green Sells a 40% Stake in Manhattan’s 11 Madison Ave.”, Forbes.com published: “SL Green Realty is Oversold” on October 05, 2016. More interesting news about SL Green Realty Corp (NYSE:SLG) was released by: Prnewswire.com and their article: “How These REIT Stocks are Faring? — Macerich, SL Green Realty, Equity One …” with publication date: November 15, 2016.

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By Marie Mckinney


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