Keefe, Bruyette & Woods Upgrades SL Green Realty (SLG) to Outperform; Attractive Opportunity In CBD Office REIT

Keefe, Bruyette & Woods upgraded SL Green Realty (NYSE: SLG) to Outperform with a price target of $95.00.

KBW analyst says, "SL Green Realty shares have sold off 13% since July 21st - vs REITs down 7%. SLG is now trading at an 8% discount to our NAV estimate of $83 per share vs CBD peer average of 1% premium. We view SLG's over 80% exposure to Manhattan and not having DC exposure like peers as a positive. Attractive entry point - upgrade to Outperform."

For more ratings news on SL Green Realty click here and for the rating history of SL Green Realty click here.

Shares of SL Green Realty closed at $76.12 yesterday.

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