SL Green Realty stock hits 52-week low at $47.17

In a challenging market environment, SL Green Realty Corp. (NYSE:SLG) stock has touched a 52-week low, dipping to $47.17, with the stock showing significant volatility as highlighted by InvestingPro data. Despite recent pressures, the REIT maintains a remarkable 29-year streak of consistent dividend payments, currently yielding 6.1%. The real estate investment trust, which primarily owns commercial properties in Manhattan, has faced headwinds over the past year, with a YTD decline of 24.53% and revenue dropping 15.6% in the last twelve months. Investors are closely monitoring the company's performance as it navigates through the shifting real estate landscape, with particular attention to occupancy rates and leasing activity in the post-pandemic era. The current price level marks a significant point of interest for market watchers and shareholders alike, as they consider the stock's potential for recovery or further decline. InvestingPro subscribers can access 12 additional exclusive tips and a comprehensive analysis of SLG's financial health and valuation metrics.

In other recent news, SL Green Realty Corp reported its fourth-quarter 2024 earnings, which exceeded expectations with funds from operations (FFO) of $4.95, surpassing forecasts by $0.09. However, the company's revenue fell short of expectations, reporting $139.61 million against a projected $141.69 million. Meanwhile, Evercore ISI upgraded SL Green's stock rating from In Line to Outperform, despite reducing the price target to $73.00, citing strong Q1 leasing activity and potential future catalysts. Jefferies initiated coverage on SL Green with a Hold rating and set a price target of $58.00, highlighting the company's strategic reinvestment in its Midtown assets. Additionally, SL Green appointed Peggy Lamb as a new independent director, bringing her extensive real estate experience to the board. These developments reflect SL Green's ongoing efforts to navigate the evolving real estate market and capitalize on the post-pandemic recovery in the office sector.

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