SL Green Realty Corp (NYSE:SLG) – Equities research analysts at Jefferies Financial Group cut their FY2018 earnings per share estimates for SL Green Realty in a research report issued to clients and investors on Monday, December 3rd. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings of $6.56 per share for the year, down from their prior forecast of $6.74. Jefferies Financial Group also issued estimates for SL Green Realty’s Q1 2019 earnings at $1.70 EPS, Q4 2019 earnings at $1.72 EPS, FY2019 earnings at $6.91 EPS, Q2 2020 earnings at $1.87 EPS, Q3 2020 earnings at $1.77 EPS and FY2020 earnings at $7.15 EPS.
A number of other brokerages have also weighed in on SLG. TheStreet upgraded SL Green Realty from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. Deutsche Bank increased their target price on SL Green Realty from $111.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday, August 29th. ValuEngine cut SL Green Realty from a “hold” rating to a “sell” rating in a report on Monday, September 24th. JPMorgan Chase & Co. cut SL Green Realty from an “overweight” rating to a “neutral” rating in a report on Friday, October 5th. Finally, Scotiabank assumed coverage on SL Green Realty in a report on Tuesday, October 16th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $108.27.
Shares of SLG opened at $95.71 on Wednesday. The stock has a market cap of $8.06 billion, a P/E ratio of 14.57, a P/E/G ratio of 3.16 and a beta of 1.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.93 and a current ratio of 1.93. SL Green Realty has a 52-week low of $89.46 and a 52-week high of $106.54.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 17th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.66). SL Green Realty had a return on equity of 5.05% and a net margin of 26.46%. The business had revenue of $250.87 million during the quarter, compared to analysts’ expectations of $242.18 million. During the same period in the prior year, the firm posted $1.49 EPS. The firm’s revenue for the quarter was down 21.5% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.85 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, December 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.55%. SL Green Realty’s dividend payout ratio is currently 50.39%.
In other SL Green Realty news, CFO Matthew J. Diliberto sold 35,000 shares of the company’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $92.27, for a total transaction of $3,229,450.00. Following the completion of the sale, the chief financial officer now owns 36,234 shares in the company, valued at $3,343,311.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Matthew J. Diliberto sold 3,967 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $92.07, for a total value of $365,241.69. Following the sale, the chief financial officer now owns 36,234 shares of the company’s stock, valued at approximately $3,336,064.38. The disclosure for this sale can be found here. Corporate insiders own 3.65% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLG. Piedmont Investment Advisors LLC acquired a new stake in SL Green Realty during the 2nd quarter worth about $104,000. Mount Yale Investment Advisors LLC purchased a new position in SL Green Realty in the 2nd quarter valued at about $143,000. Point72 Hong Kong Ltd lifted its stake in SL Green Realty by 324.3% in the 3rd quarter. Point72 Hong Kong Ltd now owns 1,939 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 1,482 shares in the last quarter. BB&T Securities LLC purchased a new position in SL Green Realty in the 2nd quarter worth approximately $218,000. Finally, ING Groep NV purchased a new position in SL Green Realty in the 2nd quarter worth approximately $218,000.
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 September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.
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