Evercore analyst Steve Sakwa upgrades $SL Green Realty (SLG.US)$ to a hold rating, and adjusts the target price from $55 to $79.
According to TipRanks data, the analyst has a success rate of 52.9% and a total average return of 1.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $SL Green Realty (SLG.US)$'s main analysts recently are as follows:
The firm's robust third-quarter performance underscores its continued success in the office sector, particularly in converting its leasing pipeline into signed leases. The expectation for an improved cash mark-to-market in the fourth quarter follows a 10.8% increase year-to-date. Positivity towards the stock is driven by its attractive valuation, potential future asset sales, and solid leading indicators of office demand.
Subsequent to SL Green Realty's Q3 report and subsequent discussion, adjustments were made to the forecasting model, resulting in a marginal decrease in the FY24 FFO estimate. Additionally, the valuation of One Vanderbilt and One Madison contributed to an increased net asset value estimate, factoring in a lower overall capitalization rate.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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