SL Green Draws Big Short Bets Despite Sector-Beating Rally
- Piper Sandler analyst warns investors not to be caught short
- S3 Partners data show $173 million short paper losses in 2023
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SL Green Realty Corp. is the most-shorted office REIT in the US — a puzzling development considering the stock’s strong rally this year has made it one of the best performers in the group.
The shares are up 11% in 2023, compared with a gauge of office real estate investment trusts that’s down more than 19% this year. SL Green declined 9.7% amid a broader selloff in the sector on Thursday.