SL Green Realty Corp (SLG) Forecasted to Post Q4 2018 Earnings of $1.54 Per Share

SL Green Realty Corp (NYSE:SLG) – Investment analysts at SunTrust Banks cut their Q4 2018 earnings estimates for SL Green Realty in a research report issued on Tuesday, December 4th. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $1.54 per share for the quarter, down from their prior forecast of $1.69. SunTrust Banks currently has a “Hold” rating and a $107.00 target price on the stock.

A number of other research firms also recently issued reports on SLG. Deutsche Bank lifted their price target 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 downgraded SL Green Realty from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. JPMorgan Chase & Co. downgraded SL Green Realty from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Finally, Robert W. Baird downgraded SL Green Realty from an “outperform” rating to a “neutral” rating and cut their price target for the company from $109.00 to $103.00 in a research note on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. SL Green Realty currently has a consensus rating of “Hold” and a consensus target price of $108.27.

Shares of SLG opened at $93.23 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.93 and a quick ratio of 1.93. The stock has a market capitalization of $8.06 billion, a PE ratio of 14.45, a PEG ratio of 3.17 and a beta of 1.09. SL Green Realty has a one year low of $89.46 and a one year high of $106.54.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 17th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.66). The firm had revenue of $250.87 million during the quarter, compared to analyst estimates of $242.18 million. SL Green Realty had a net margin of 26.46% and a return on equity of 5.05%. The business’s quarterly revenue was down 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share.

Institutional investors have recently bought and sold shares of the business. Oakbrook Investments LLC lifted its position in shares of SL Green Realty by 33.6% during the 3rd quarter. Oakbrook Investments LLC now owns 5,013 shares of the real estate investment trust’s stock worth $489,000 after buying an additional 1,262 shares in the last quarter. Twin Capital Management Inc. lifted its position in shares of SL Green Realty by 40.4% during the 2nd quarter. Twin Capital Management Inc. now owns 23,664 shares of the real estate investment trust’s stock worth $2,379,000 after buying an additional 6,814 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of SL Green Realty during the 2nd quarter worth approximately $3,986,000. Bank of Montreal Can lifted its position in shares of SL Green Realty by 48.7% during the 3rd quarter. Bank of Montreal Can now owns 65,378 shares of the real estate investment trust’s stock worth $6,376,000 after buying an additional 21,414 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $1,250,000.

In other SL Green Realty news, CFO Matthew J. Diliberto sold 3,967 shares of SL Green Realty stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $92.07, for a total transaction of $365,241.69. Following the transaction, the chief financial officer now owns 36,234 shares of the company’s stock, valued at approximately $3,336,064.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew J. Diliberto sold 35,000 shares of SL Green Realty stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 36,234 shares in the company, valued at approximately $3,343,311.18. The disclosure for this sale can be found here. 3.65% of the stock is currently owned by insiders.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 3.65%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.81. SL Green Realty’s payout ratio is 50.39%.

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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Earnings History and Estimates for SL Green Realty (NYSE:SLG)

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