SL Green Realty Receives a Hold from Wells Fargo

By Carrie Williams

Wells Fargo analyst Blaine Heck maintained a Hold rating on SL Green Realty (NYSE: SLG) yesterday and set a price target of $109. The company’s shares closed yesterday at $105.36.

SL Green Realty has an analyst consensus of Strong Buy, with a price target consensus of $119.25.

SL Green Realty’s market cap is currently $10.46B and has a P/E ratio of 36.52. The company has a book value ratio of 1.4789.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SLG in relation to earlier this year. Most recently, in August 2016, Marc Holliday, the CEO of SLG bought 37,340 shares for a total of $1,009,066.

SL Green Realty Corp. operates as a real estate investment trust which engages in property management, acquisitions and dispositions, financing, development and redevelopment, construction, and leasing. It operates through the Real Estate, and Debt and Preferred Equity Investments segments. The Real Estate segment consists of security, maintenance, utility costs, real estate taxes and, at certain properties, ground rent expense. The Debt and Preferred Equity Investments segment includes cash flow from operations; Cash on hand, and other forms of secured or unsecured financing. The company was founded by Stephen L. Green in June 1997 and is headquartered in New York, NY.