Bank of America Securities analyst Jana Galan has reiterated their neutral stance on SLG stock, giving a Hold rating today.
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Jana Galan has given her Hold rating due to a combination of factors affecting SL Green Realty’s financial outlook. The company’s recent Investor Day revealed a weaker-than-expected 2026 funds from operations (FFO) guidance, which was below the consensus estimates. This lower guidance is partly attributed to property dispositions and ongoing refinancing challenges, which overshadow the positive aspects of strong leasing activity and rent growth in New York City. Consequently, the price objective was adjusted from $56 to $54, reflecting these concerns.
Despite the challenges, there are positive indicators such as significant embedded growth potential and plans to reduce debt, which are favorable for the company’s long-term prospects. SL Green Realty is exceeding its leasing goals, with expectations of high occupancy rates and substantial net operating income growth in the coming years. However, the impact of higher interest rates on expenses and valuation, along with potential policy risks in New York City, contribute to the cautious outlook, justifying the Hold rating.
In another report released today, Barclays also maintained a Hold rating on the stock with a $59.00 price target.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLG in relation to earlier this year.