Jefferies Downgrades SL Green Realty (SLG) to Hold
Get Alerts SLG Hot Sheet
Rating Summary:
9 Buy, 15 Hold, 6 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 29Metals Ltd (29M:AU) PT Lowered to AUD0.50 at RBC Capital
- Archrock (AROC) PT Raised to $21 at RBC Capital
- Dollar General (DG) PT Raised to $175 at Argus
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, DowngradesRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!