![]() ![]() ![]() He, in turn, called for the submarket's availability rate to outperform Manhattan overall given the lack of supply and "renewed prominence of this prime suburban commuter hub. With Slack (NYSE: WORK) having closed yesterday just above 22 per share, SLACK stock is now down nearly 50 from its post-Initial. "While overall leasing in the market in the first half of the year was below historical average, SL Green has garnered more than its fair share and has now entered into year to date leases totaling 950,000 square feet of space leased," Chairman and CEO Marc Holliday said during his company's Q2 earnings call.Īnd, Holliday added, "we are trading paper with a lot more tenants evidenced by our 1.1 million square foot leasing pipeline more than two thirds of which represents new leasing activity."Īnalyst Alexander Goldfarb pointed out in a Thursday note that the Grand Central submarket is tightening while the broader Manhattan market remains slack. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. The bullish coverage comes a day after SLG posted mixed financial results for the second quarter, during which it signed 43 Manhattan office leases covering 410,749 square feet. Slacks non-GAAP loss was 0.23 per share and revenue surged 67 to 134.8 million. Each shareholder of Slack will receive US26.79 in cash per share under the deal, as well as 0.076 shares of. Slack Technologies Inc., which is going to list its Class A common stock directly on June 20 with a ticker symbol WORK on NYSE, reported its financial results for the first quarter ended April 30, 2019, on Monday after the market closed. ![]() SL Green Realty ( NYSE: SLG) shares drove up as much as 5.1% in Friday morning trading after Piper Sandler upgraded the stock to Overweight from Neutral on the expectations that the Manhattan office owner would benefit from tenants who prize proximity of commuter convenience and lack of supply. Salesforce announced it would be acquiring Slack in a stock/cash arrangement. ![]()
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