A Reversal for SL Green Realty Corp Is Not Near. Professional Options Traders Are Bearish

 A Reversal for SL Green Realty Corp Is Not Near. Professional Options Traders Are Bearish

In today’s session SL Green Realty Corp (SLG) recorded an unusually high (1,528) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SLG decrease. With 1,528 contracts traded and 5074 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SLG161118P00100000 closed last at: $0.6 or 36.8% down. About 611,267 shares traded hands. SL Green Realty Corp (NYSE:SLG) has risen 8.58% since April 13, 2016 and is uptrending. It has outperformed by 4.66% the S&P500.

SL Green Realty Corp (NYSE:SLG) Ratings Coverage

Out of 17 analysts covering SL Green Realty Corp. (NYSE:SLG), 8 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 47% are positive. SL Green Realty Corp. has been the topic of 42 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Thursday, August 20, the company rating was downgraded by Stifel Nicolaus. Zacks downgraded the stock to “Buy” rating in Monday, August 24 report. The rating was upgraded by Evercore to “Buy” on Monday, March 21. On Monday, August 15 the stock rating was maintained by Stifel Nicolaus with “Buy”. The rating was initiated by BMO Capital Markets on Thursday, September 10 with “Outperform”. Zacks downgraded SL Green Realty Corp (NYSE:SLG) on Monday, September 7 to “Hold” rating. As per Thursday, January 7, the company rating was upgraded by Robert W. Baird. The stock of SL Green Realty Corp (NYSE:SLG) has “Buy” rating given on Friday, January 22 by Sandler O’Neill. On Wednesday, September 9 the stock rating was upgraded by Stifel Nicolaus to “Buy”. As per Friday, July 1, the company rating was downgraded by UBS.

According to Zacks Investment Research, “SL Green Realty Corporation is a fully-integrated, self administered and self-managed real estate investment trust and was formed for the purpose of continuing the commercial real estate business of SL Green. For more than 18 years, SL Green has been engaged in the business of owning, managing, leasing, acquiring and repositioning Class B office properties in Manhattan.”

Insitutional Activity: The institutional sentiment increased to 1.24 in 2016 Q2. Its up 0.11, from 1.13 in 2016Q1. The ratio is positive, as 31 funds sold all SL Green Realty Corp shares owned while 105 reduced positions. 37 funds bought stakes while 131 increased positions. They now own 103.14 million shares or 1.29% less from 104.49 million shares in 2016Q1.
Systematic Financial L P, a New Jersey-based fund reported 977,663 shares. Qcm Cayman Limited last reported 2,855 shares in the company. California State Teachers Retirement reported 212,396 shares or 0.05% of all its holdings. Henderson Group Inc Pcl accumulated 12,533 shares or 0.01% of the stock. British Columbia Inv Management owns 46,143 shares or 0.04% of their US portfolio. Lazard Asset Management Limited Liability Company last reported 9,725 shares in the company. Renaissance Ltd Llc has 0.02% invested in the company for 89,340 shares. Old Mutual Customised Solutions (Proprietary) Limited, a South Africa-based fund reported 3,200 shares. Bamco New York accumulated 150,000 shares or 0.08% of the stock. Landscape Cap Management Limited Liability holds 0.45% or 32,100 shares in its portfolio. Utah Retirement owns 20,840 shares or 0.06% of their US portfolio. Andra Ap has 0.06% invested in the company for 21,700 shares. Adage Ptnrs Grp Ltd Liability Corporation has invested 0.02% of its portfolio in SL Green Realty Corp (NYSE:SLG). Us Bank & Trust De, a Minnesota-based fund reported 3,850 shares. Investec Asset Mngmt reported 19,842 shares or 0.01% of all its holdings.

Insider Transactions: Since July 25, 2016, the stock had 2 buys, and 2 selling transactions for $389,583 net activity. BURTON EDWIN T III sold $34,950 worth of SL Green Realty Corp (NYSE:SLG) on Thursday, July 28. $1.00 million worth of SL Green Realty Corp (NYSE:SLG) was bought by HOLLIDAY MARC on Tuesday, July 26. 20,500 SL Green Realty Corp (NYSE:SLG) shares with value of $2.37 million were sold by HATKOFF CRAIG M.

SL Green Realty Corp. is a self-managed real estate investment trust, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The company has a market cap of $11.14 billion. The Firm acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area. It has a 36.73 P/E ratio. It operates through two divisions: real estate, and debt and preferred equity investments.

SLG Company Profile

SL Green Realty Corp., incorporated on June 10, 1997, is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Firm acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area. It operates through two divisions: real estate, and debt and preferred equity investments. Reckson Associates Realty Corp. (Reckson) and Reckson Operating Partnership, L.P. (ROP), are subsidiaries of the Company.

More important recent SL Green Realty Corp (NYSE:SLG) news were published by: Forbes.com which released: “Relative Strength Alert For SL Green Realty” on November 01, 2016, also Bloomberg.com published article titled: “SL Green Sells a 40% Stake in Manhattan’s 11 Madison Ave.”, Forbes.com published: “SL Green Realty is Oversold” on October 05, 2016. More interesting news about SL Green Realty Corp (NYSE:SLG) was released by: Prnewswire.com and their article: “How These REIT Stocks are Faring? — Macerich, SL Green Realty, Equity One …” with publication date: November 15, 2016.

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