UPDATE - UBS Downgraded SL Green Realty (SLG); Recent Run Up + Manhattan Office Slowing = Timeout
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Price: $57.64 -0.79%
Rating Summary:
14 Buy, 16 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 16 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - UBS downgraded SL Green Realty (NYSE: SLG) from Buy to Neutral. PT lowered from $85 to $80.
Analyst, Ross T. Nussbaum, said, "A slowdown in Manhattan office fundamentals has been evident since late August 2011 when leasing began to slow from the torrid pace seen in the 1H of the year. Fundamentals have slowed further in Q1 ‘12 with recent upticks in availability and negative absorption in Midtown driven by lower demand and consolidation. The near-term outlook doesn’t seem much rosier based on recent discussions with NY brokers as occupancy and rents appear poised to remain flat for the balance of ‘12."
To see more ratings on SLG, Click Here
Analyst, Ross T. Nussbaum, said, "A slowdown in Manhattan office fundamentals has been evident since late August 2011 when leasing began to slow from the torrid pace seen in the 1H of the year. Fundamentals have slowed further in Q1 ‘12 with recent upticks in availability and negative absorption in Midtown driven by lower demand and consolidation. The near-term outlook doesn’t seem much rosier based on recent discussions with NY brokers as occupancy and rents appear poised to remain flat for the balance of ‘12."
To see more ratings on SLG, Click Here
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