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Shares of SL Green Realty Under Pressure, Down 1.4%

Published on Wed, 01/30/2013 - 13:24
By Peter Chu

SL Green Realty (NYSE:SLG) is one of today's notable stocks in decline, down 1.4% to $80.68. The S&P is currently trading fractionally lower to 1,507 and the Dow Jones Industrial Average is trading fractionally higher to 13,956.

SL Green Realty Corp. is a fully integrated, self-administered and self-managed real estate investment trust. The Trust is exclusively focused on owning and operating office buildings in Manhattan.

Potential upside of 8.0% exists for SL Green Realty, based on a current level of $80.68 and analysts' average consensus price target of $87.12. The stock should discover initial support at its 200-day moving average (MA) of $78.01 and subsequent support at its 50-day MA of $76.95.

Over the past year, SL Green Realty has traded in a range of $70.34 to $85.74 and is now at $80.68, 15% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

By Peter Chu