SL Green Realty (NYSE:SLG) released its quarterly earnings results on Wednesday. The real estate investment trust reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.66), Fidelity Earnings reports. SL Green Realty had a net margin of 26.46% and a return on equity of 5.01%. The firm had revenue of $250.87 million during the quarter, compared to analyst estimates of $242.18 million. During the same quarter last year, the firm earned $1.49 earnings per share. SL Green Realty’s quarterly revenue was down 21.5% on a year-over-year basis.
SLG opened at $92.59 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.91. The company has a market cap of $7.98 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 2.89 and a beta of 1.09. SL Green Realty has a fifty-two week low of $89.46 and a fifty-two week high of $106.54.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, September 27th. SL Green Realty’s dividend payout ratio (DPR) is 50.39%.
A number of equities analysts have recently issued reports on SLG shares. Deutsche Bank upped their target price on shares of SL Green Realty from $111.00 to $114.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. ValuEngine lowered shares of SL Green Realty from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. TheStreet raised shares of SL Green Realty from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. JPMorgan Chase & Co. downgraded shares of SL Green Realty from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Finally, Citigroup dropped their price target on shares of SL Green Realty from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $110.54.
In other SL Green Realty news, President Andrew W. Mathias sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $105.34, for a total value of $6,847,100.00. Following the completion of the sale, the president now owns 277,720 shares of the company’s stock, valued at $29,255,024.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John S. Levy sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $103.58, for a total transaction of $103,580.00. Following the completion of the sale, the director now directly owns 14,827 shares of the company’s stock, valued at approximately $1,535,780.66. The disclosure for this sale can be found here. Insiders own 3.65% of the company’s stock.
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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