Shares of SL Green, New York City’s biggest office landlord, are performing better than the rest of the sector. But that hasn’t stopped investors from selling its stocks short.
A share selloff affecting real estate investment trusts hit the sector Thursday after the Federal Reserve kept interest rates level.
REIT shares are down roughly 19% this year, while SL Green’s are up by 11%. But the Fed’s announcement led SL Green to lose ground against its market competition, Bloomberg reported.
The office landlord’s share price declined by 9.7% amid yesterday’s selloff, but roughly 26% of its shares on the market — around $688M — were sold short,…