SL Green Realty Corporation (SLG): Today's Featured Real Estate Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

SL Green Realty Corporation ( SLG) pushed the Real Estate industry lower today making it today's featured Real Estate laggard. The industry as a whole closed the day down 1.2%. By the end of trading, SL Green Realty Corporation fell $2.09 (-2.3%) to $88.61 on average volume. Throughout the day, 591,524 shares of SL Green Realty Corporation exchanged hands as compared to its average daily volume of 650,200 shares. The stock ranged in price between $88.52-$90.50 after having opened the day at $90.02 as compared to the previous trading day's close of $90.70. Other companies within the Real Estate industry that declined today were: AmREIT ( AMRE), down 5.0%, HFF ( HF), down 4.5%, Tejon Ranch ( TRC), down 4.4% and FelCor Lodging ( FCH), down 4.3%.
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SL Green Realty Corp. is a real estate investment trust (REIT). The firm engages in the property management, acquisitions, financing, development, construction, and leasing. It also provides tenant services to its clients. The firm invests in real estate markets of the United States. SL Green Realty Corporation has a market cap of $8.1 billion and is part of the financial sector. The company has a P/E ratio of 75.8, above the S&P 500 P/E ratio of 17.7. Shares are up 18.3% year to date as of the close of trading on Tuesday. Currently there are 7 analysts that rate SL Green Realty Corporation a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates SL Green Realty Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

On the positive front, China HGS Real Estate ( HGSH), down 6.2%, American Spectrum Realty ( AQQ), down 5.3%, Optibase ( OBAS), down 5.1% and Vestin Realty Mortgage I ( VRTA), down 4.5%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the real estate industry could consider iShares Dow Jones US Real Estate ( IYR) while those bearish on the real estate industry could consider ProShares Short Real Estate Fund ( REK).

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