Wall Street brokerages expect that SL Green Realty (NYSE:SLG) will post earnings per share (EPS) of $1.69 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for SL Green Realty’s earnings, with estimates ranging from $1.65 to $1.72. SL Green Realty posted earnings of $1.78 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.1%. The business is expected to issue its next quarterly earnings results on Wednesday, July 18th.
According to Zacks, analysts expect that SL Green Realty will report full year earnings of $6.75 per share for the current fiscal year, with EPS estimates ranging from $6.72 to $6.79. For the next year, analysts anticipate that the business will report earnings of $7.03 per share, with EPS estimates ranging from $6.85 to $7.26. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow SL Green Realty.
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SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, April 18th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($1.10). The firm had revenue of $301.70 million for the quarter, compared to analysts’ expectations of $295.93 million. SL Green Realty had a net margin of 13.36% and a return on equity of 2.72%. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS.
A number of brokerages have recently weighed in on SLG. Robert W. Baird set a $106.00 price objective on SL Green Realty and gave the company a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research lowered SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Sandler O’Neill restated a “buy” rating and set a $115.00 price objective on shares of SL Green Realty in a research report on Monday, April 23rd. JPMorgan Chase cut their price objective on SL Green Realty from $114.00 to $113.00 and set an “overweight” rating for the company in a research report on Tuesday, April 24th. Finally, Jefferies Group reiterated a “hold” rating and issued a $100.00 price target on shares of SL Green Realty in a research report on Thursday, April 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $112.33.
Shares of SL Green Realty stock traded down $2.48 during trading on Tuesday, reaching $96.48. 1,350,800 shares of the stock traded hands, compared to its average volume of 994,669. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 2.47 and a beta of 1.05. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.80. SL Green Realty has a 52-week low of $96.48 and a 52-week high of $98.38.
The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Monday, April 2nd were given a $0.8125 dividend. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $3.25 annualized dividend and a yield of 3.37%. SL Green Realty’s dividend payout ratio is currently 50.39%.
In related news, insider Andrew S. Levine sold 15,000 shares of SL Green Realty stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $100.23, for a total value of $1,503,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.99% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. lifted its stake in SL Green Realty by 14.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 447,787 shares of the real estate investment trust’s stock worth $43,360,000 after purchasing an additional 56,209 shares during the last quarter. Guggenheim Capital LLC lifted its stake in SL Green Realty by 1.5% in the first quarter. Guggenheim Capital LLC now owns 329,560 shares of the real estate investment trust’s stock worth $31,913,000 after purchasing an additional 4,860 shares during the last quarter. Element Capital Management LLC bought a new stake in SL Green Realty in the first quarter worth about $488,000. The Manufacturers Life Insurance Company lifted its stake in SL Green Realty by 10.9% in the first quarter. The Manufacturers Life Insurance Company now owns 97,238 shares of the real estate investment trust’s stock worth $9,415,000 after purchasing an additional 9,592 shares during the last quarter. Finally, A.R.T. Advisors LLC lifted its stake in SL Green Realty by 49.2% in the first quarter. A.R.T. Advisors LLC now owns 10,916 shares of the real estate investment trust’s stock worth $1,056,000 after purchasing an additional 3,600 shares during the last quarter.
SL Green Realty Company Profile
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2017, SL Green held interests in 121 Manhattan buildings totaling 50.0 million square feet.
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