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SLG

SL Green Realty

$87.25

-2.72 (-3.02%)

, FRC

First Republic

$102.98

1.355 (1.33%)

07:42
04/17/19
04/17
07:42
04/17/19
07:42

SL Green Realty signs First Republic to 460 West 34th Street

SL Green Realty (SLG) announced that First Republic Bank (FRC) has signed a new 211,521-square-foot, 15-year lease to occupy a portion of the ground and mezzanine floors with two new retail bank branches together with the entire second through sixth floors for corporate offices at 460 West 34th Street. SL Green entered into a contract to purchase a majority and controlling interest in the building and is scheduled to close on the acquisition in May, 2019. The building is located directly across from Hudson Yards and Manhattan West along the full block front of Tenth Avenue between 33rd and 34th Streets. SL Green will execute a comprehensive, building-wide redevelopment of the 20-story, 638,000 square foot, Class-A office tower, with work to commence immediately following acquisition.

SLG

SL Green Realty

$87.25

-2.72 (-3.02%)

FRC

First Republic

$102.98

1.355 (1.33%)

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SLG SL Green Realty
$87.25

-2.72 (-3.02%)

02/04/19
LEHM
02/04/19
UPGRADE
Target $100
LEHM
Overweight
SL Green Realty upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Ross Smotrich upgraded SL Green Realty to Overweight and raised his price target for the shares to $100 from $97.
02/04/19
LEHM
02/04/19
NO CHANGE
LEHM
Barclays upgrades U.S. REITs sector to Positive from Neutral
Barclays analyst Ross Smotrich upgraded his sector rating on U.S. Real Estate Investment Trusts to Positive from Neutral. Late cycle concerns around slowing growth, rising interest rates and full asset values are overdone, Smotrich tells investors in a research note. The analyst believes that real estate fundamentals "have a good runway for continued strength, particularly compared to the slowing broader market." In Multifamily, the analyst upgraded the sub-sector to Positive, reiterates Overweight ratings on Essex Property Trust (ESS) and MAA (MAA), upgraded Camden Property Trust (CPT) to Overweight from Equal Weight for exposure to "18 hour cities" and downgraded Aimco (AIV) to Equal Weight from Overweight on slowing growth. In Office, Smotrich keeps a Neutral sub-sector rating "with a Positive tilt." His outlook for the sector is improving given "healthy underlying fundamentals and attractive valuations." He upgraded both SL Green Realty (SLG) and Brandywine Realty (BDN) to Overweight from Equal Weight, and Douglas Emmett (DEI) to Equal Weight from Underweight. The analyst maintain Overweight ratings on Alexandria Real Estate (ARE), Boston Properties (BXP) and Hudson Pacific (HPP). In Retail, the analyst tells investors to stay selective. He prefers larger companies with "better-quality assets, balance sheet flexibility, the ability to take share and grow earnings even as retailers evolve and rationalization store counts." Smotrich upgraded Regency Centers (REG) to Overweight from Equal Weight, reaffirmed Overweights on both Kimco Realty (KIM) and Simon Property (SPG), and downgraded Kite Realty Group (KRG) to Equal Weight from Overweight.
03/13/19
MSCO
03/13/19
DOWNGRADE
MSCO
Underweight
SL Green Realty downgraded to Underweight from Equal Weight at Morgan Stanley
03/13/19
MSCO
03/13/19
DOWNGRADE
MSCO
Underweight
Morgan Stanley cautious on NYC office REITs, cuts SL Green, Boston Properties
As previously reported, Morgan Stanley analyst Vikram Malhotra downgraded SL Green Realty (SLG) and Boston Properties (BXP), both to Underweight from Equal Weight, as he remains cautious on NYC office REITs. While acknowledging that the current 25% discount to net asset value may make NYC office REITs attractive, his deep dive into 200 NYC deals showed him that this metric could be misleading and in fact REITs are pricing in optimistic long-term growth based on cash flow metrics. For SL Green, Malhotra sees growing execution risks that could drive lower than anticipated cash flow growth. For Boston Properties, he believes the REIT's defensive attributes are "more than priced in" to its share price. Malhotra also upgraded Paramount Group (PGRE) to Equal Weight from Underweight, as previously reported, telling investors that he now thinks modest expirations and strong operating income growth are balanced by valuation. Malhotra lowered his price target on SL Green shares to $85.50 from $97, cut his target on Boston to $116 from $130, raised his target on Paramount to $15 from $13.25, lowered his target on Vornado (VNO) to $72 from $76 and edged up his target on Columbia Property (CXP) to $22.50 from $21.25.
FRC First Republic
$102.98

1.355 (1.33%)

01/10/19
BOFA
01/10/19
DOWNGRADE
BOFA
Neutral
First Republic downgraded to Neutral on valuation, fee outlook at BofA/Merrill
As previously reported, BofA/Merrill downgraded First Republic to Neutral from Buy and cut its price target to $94. Analyst Erika Najarian said First Republic's best in class revenue growth is already reflected in valuation and the flat yield curve poses risk to net interest margin. Najarian also expects challenges to investment advisory fees due to difficult markets and efficiency to be down.
01/16/19
WELS
01/16/19
NO CHANGE
Target $110
WELS
Outperform
First Republic price target raised to $110 from $100 at Wells Fargo
Wells Fargo analyst Jared Shaw raised his price target for First Republic to $110 from $100 after the bank posted a "strong quarter" marked by record loan production and a better net interest margin. As one of the biggest consensus shorts heading into earnings, the strong balance sheet performance and better NIM result resulted in a 10% rebound in shares, he notes. Shaw continues to view First Republic as one of the best positioned banks, as it remains one of his top picks for 2019. He reiterates an Outperform rating on the shares.
03/01/19
ATLE
03/01/19
DOWNGRADE
ATLE
Neutral
First Republic downgraded to Neutral from Overweight at Atlantic Equities
03/15/19
BMOC
03/15/19
NO CHANGE
Target $111
BMOC
Market Perform
First Republic price target raised to $111 from $95 at BMO Capital
BMO Capital analyst Lana Chan raised her price target on First Republic to $111 and also raised her FY19 EPS view to $5.30 from $5.25 after meeting with its management. The analyst says the discussions highlighted the management's "positive outlook for client growth" in loans, deposits, and wealth management. Chan is keeping her Market Perform rating on the shares however, stating that the valuation premium on the stock relative to its peers has widened even further after its recent addition to the S&P500 index.

TODAY'S FREE FLY STORIES

KR

Kroger

$25.78

0.22 (0.86%)

, AMZN

Amazon.com

$1,862.11

-2.52 (-0.14%)

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KR

Kroger

$25.78

0.22 (0.86%)

AMZN

Amazon.com

$1,862.11

-2.52 (-0.14%)

WMT

Walmart

$103.15

0.02 (0.02%)

TGT

Target

$83.23

0.51 (0.62%)

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T

AT&T

$32.04

0.09 (0.28%)

, CMCSA

Comcast

$42.43

-0.16 (-0.38%)

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T

AT&T

$32.04

0.09 (0.28%)

CMCSA

Comcast

$42.43

-0.16 (-0.38%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$47.86

0.09 (0.19%)

LGF.A

Lionsgate

$15.91

0.1 (0.63%)

DIS

Disney

$132.44

0.68 (0.52%)

VIAB

Viacom

$30.19

-0.35 (-1.15%)

VIA

Viacom

$36.39

-0.35 (-0.95%)

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FCAU

Fiat Chrysler

$16.47

-0.2 (-1.20%)

12:23
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TSLA

Tesla

$273.25

2.13 (0.79%)

12:08
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Investors set to get a peek at Tesla driverless car technology, WSJ says »

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SPY

SPDR S&P 500 ETF Trust

$289.99

0.52 (0.18%)

, SPX

S&P 500

$0.00

(0.00%)

12:03
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SPY

SPDR S&P 500 ETF Trust

$289.99

0.52 (0.18%)

SPX

S&P 500

$0.00

(0.00%)

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BA

Boeing

$380.02

2.48 (0.66%)

08:41
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BA

Boeing

$380.02

2.48 (0.66%)

08:36
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Nine civil aviation authorities to review Boeing 737 MAX flight control system »

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BA

Boeing

$380.02

2.48 (0.66%)

08:29
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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
04/21/19
04/21
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Conference/Events
MSC Industrial management to meet with William Blair »

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PINS

Pinterest

$24.46

(0.00%)

13:04
04/20/19
04/20
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Pinterest stock is hot after IPO, investors should keep cool, Barron's says »

Pinterest priced its IPO…

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HUM

Humana

$240.65

7.645 (3.28%)

, CI

Cigna

$148.95

3.46 (2.38%)

12:51
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Periodicals
Health insurers stocks now look like a buy, Barron's says »

Investing in health…

HUM

Humana

$240.65

7.645 (3.28%)

CI

Cigna

$148.95

3.46 (2.38%)

ANTM

Anthem

$239.63

3.38 (1.43%)

UNH

UnitedHealth

$221.74

4.93 (2.27%)

CVS

CVS Health

$52.62

0.08 (0.15%)

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TSLA

Tesla

$273.25

2.13 (0.79%)

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AMD

AMD

$27.68

0.18 (0.65%)

, INTC

Intel

$58.49

-0.08 (-0.14%)

12:43
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Periodicals
Wall Street cheered Intel decision to exit 5G modem business, Barron's says »

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AMD

AMD

$27.68

0.18 (0.65%)

INTC

Intel

$58.49

-0.08 (-0.14%)

QCOM

Qualcomm

$79.89

0.8 (1.01%)

AAPL

Apple

$203.83

0.69 (0.34%)

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SAM

Boston Beer

$266.90

0.89 (0.33%)

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'Happy hour' might be over for Boston Beer, Barron's says »

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SPOT

Spotify

$139.53

1.88 (1.37%)

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Spotify stock 'risky' as music industry not changing fast enough, Barron's says »

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BA

Boeing

$380.02

2.48 (0.66%)

, HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

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BA

Boeing

$380.02

2.48 (0.66%)

HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

PPC

Pilgrim's Pride

$25.79

0.03 (0.12%)

SAFM

Sanderson Farms

$141.70

-2.17 (-1.51%)

TSN

Tyson Foods

$73.49

0.2 (0.27%)

CCL

Carnival

$53.64

-0.92 (-1.69%)

RCL

Royal Caribbean

$121.00

-2.245 (-1.82%)

NCLH

Norwegian Cruise Line

$56.93

-0.925 (-1.60%)

WFTBF

West Fraser Timber

$0.00

(0.00%)

IFSPF

Interfor

$0.00

(0.00%)

CFPZF

Canfor

$0.00

(0.00%)

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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
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04/20
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Conference/Events
MSC Industrial management to meet with William Blair »

Meetings to be held in…

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KFS

Kingsway Financial

$2.30

-0.14 (-5.74%)

19:48
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Kingsway Financial announces receipt of notification letter from NYSE »

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AWK

American Water

$104.63

2.32 (2.27%)

19:46
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04/19
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19:46
Hot Stocks
American Water signs contract to acquire East Pasadena Water Company »

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  • 02

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FSNN

Fusion

$0.24

0.0048 (2.01%)

19:45
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Fusion sees being delisted following receipt of Nasdaq delisting notice »

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  • 28

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PSA

Public Storage

$217.43

0.81 (0.37%)

19:42
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04/19
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Hot Stocks
Public Storage announces change of Chief Legal Officer »

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V

Visa

$160.14

-0.33 (-0.21%)

19:40
04/19/19
04/19
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19:40
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Visa board elects Visa CEO Al Kelly as Chair »

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NAVB

Navidea

$0.17

0.0001 (0.06%)

19:39
04/19/19
04/19
19:39
04/19/19
19:39
Hot Stocks
Navidea announces one-for-twenty reverse stock split »

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TISA

Top Image Systems

$0.84

-0.0069 (-0.81%)

19:37
04/19/19
04/19
19:37
04/19/19
19:37
Hot Stocks
Top Image sees voluntarily delisting to be complete before Nasdaq deadline »

Top Image Systems…

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FCPT

Four Corners Property Trust

$28.17

0.49 (1.77%)

19:33
04/19/19
04/19
19:33
04/19/19
19:33
Hot Stocks
Four Corners Property Trust acquires restaurant properties for $2.6M »

Four Corners Property…

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