SL Green Realty (NYSE:SLG) is scheduled to post its quarterly earnings results after the market closes on Wednesday, October 17th. Analysts expect SL Green Realty to post earnings of $1.69 per share for the quarter.
SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. The company had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $241.47 million. SL Green Realty had a return on equity of 4.24% and a net margin of 21.45%. The firm’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same period last year, the business posted $1.78 earnings per share. On average, analysts expect SL Green Realty to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.
SLG stock opened at $90.31 on Tuesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 3.02 and a beta of 1.10. SL Green Realty has a 1 year low of $89.46 and a 1 year high of $106.54.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.8125 dividend. This represents a $3.25 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Thursday, September 27th. SL Green Realty’s payout ratio is 50.39%.
A number of equities research analysts have issued reports on the company. Deutsche Bank raised their target price on SL Green Realty from $111.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. TheStreet upgraded SL Green Realty from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. ValuEngine cut shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. BMO Capital Markets restated a “$100.62” rating and set a $115.00 price objective on shares of SL Green Realty in a research note on Wednesday, July 18th. Finally, Citigroup cut their price objective on shares of SL Green Realty from $118.00 to $116.00 and set a “buy” rating on the stock in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $110.54.
In related news, President Andrew W. Mathias sold 65,000 shares of SL Green Realty stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $105.34, for a total transaction of $6,847,100.00. Following the transaction, the president now directly owns 277,720 shares of the company’s stock, valued at $29,255,024.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John S. Levy sold 1,000 shares of SL Green Realty stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $103.58, for a total value of $103,580.00. Following the transaction, the director now directly owns 14,827 shares in the company, valued at $1,535,780.66. The disclosure for this sale can be found here. 3.65% of the stock is owned by insiders.
SL Green Realty Company Profile
SL Green Realty Corp. is a real estate investment trust, which engages in property management, acquisitions and dispositions, financing, development and redevelopment, construction, and leasing. It operates through the Real Estate, and Debt and Preferred Equity Investments segments. The Real Estate segment consists of security, maintenance, utility costs, real estate taxes and, at certain properties, ground rent expense.
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