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Jefferies Downgrades SL Green Realty (SLG) to Hold

December 8, 2016 7:40 AM EST
Get Alerts SLG Hot Sheet
Price: $55.13 +2.59%

Rating Summary:
    9 Buy, 15 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Jefferies downgraded SL Green Realty (NYSE: SLG) from Buy to Hold with a price target of $117.00 (from $119.00) as near-term growth outlook moderates.

Analyst Jonathan Petersen commented, "2016 was a strong year for SLG with rising occupancy and +6% SS NOI growth. However, 2017 will be a year of more modest growth (initial guide is 2.5-3%). Longer term, SLG has catalysts with the completion of One Vanderbilt (2020), and the commencement of several flagship retail leases (2018), but those are too far off to move the stock today. As such, we downgrade to Hold, from Buy."

For an analyst ratings summary and ratings history on SL Green Realty click here. For more ratings news on SL Green Realty click here.

Shares of SL Green Realty closed at $111.01 yesterday.



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