Here's Why SL Green Stock is an Apt Portfolio Pick for Now

SL Green Realty Corp. (NYSE: SLG) has a portfolio of high-quality and well-amenitized office properties in New York City, which positions it well for growth.

This New York-based office real estate investment trust (REIT) primarily acquires, manages, develops and leases commercial (mainly office) and residential real estate properties. It has been witnessing healthy demand for its properties amid the growing need for premier office spaces.

Shares of this currently Zacks Rank #2 (Buy) company have rallied 25.8% over the past six months, outperforming its industry's growth of 13.9%. Given the strength in its fundamentals, there seems additional room for growth of this stock.

Image Source: Zacks Investment Research

Factors That Make SL Green a Solid Pick

Healthy Leasing: Despite the negative effects of the remote-working dynamics that have been hindering the U.S. office real estate sector, SL Green signed 38 office leases for its Manhattan office portfolio, encompassing 420,513 square feet during the second quarter of 2024.

Office space demand in the upcoming period is likely to be driven by de-densification efforts, allowing higher square footage per office worker. ...

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