SL Green Realty (NYSE:SLG) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21, Fidelity Earnings reports. SL Green Realty had a net margin of 19.88% and a return on equity of 3.97%. The firm had revenue of $244.96 million during the quarter, compared to analyst estimates of $241.61 million. During the same quarter last year, the business posted $1.69 EPS. The company’s revenue was up 2.7% on a year-over-year basis.
Shares of NYSE:SLG opened at $83.38 on Friday. The firm’s fifty day moving average is $84.18. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 3.24 and a beta of 1.09. SL Green Realty has a 12-month low of $76.77 and a 12-month high of $106.54. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 0.98.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Thursday, June 27th. SL Green Realty’s dividend payout ratio (DPR) is currently 51.36%.
In other SL Green Realty news, Director Betsy S. Atkins sold 6,470 shares of SL Green Realty stock in a transaction on Monday, May 6th. The shares were sold at an average price of $86.08, for a total transaction of $556,937.60. Following the completion of the sale, the director now owns 3,214 shares of the company’s stock, valued at approximately $276,661.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.99% of the company’s stock.
Several large investors have recently modified their holdings of the business. CSat Investment Advisory L.P. raised its holdings in shares of SL Green Realty by 55.1% during the 4th quarter. CSat Investment Advisory L.P. now owns 363 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 129 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of SL Green Realty during the 1st quarter valued at $72,000. KCS Wealth Advisory bought a new position in shares of SL Green Realty during the 1st quarter valued at $200,000. Quantum Capital Management bought a new position in shares of SL Green Realty during the 1st quarter valued at $201,000. Finally, Raymond James Trust N.A. bought a new position in shares of SL Green Realty during the 1st quarter valued at $216,000. 97.33% of the stock is owned by institutional investors.
A number of research firms recently commented on SLG. BMO Capital Markets decreased their price objective on shares of Pentair to $39.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Deutsche Bank decreased their price objective on shares of Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. ValuEngine lowered shares of Virtu Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Morgan Stanley started coverage on shares of in a research note on Monday, June 17th. They issued an “equal weight” rating and a GBX 215 ($2.81) price objective for the company. Finally, Zacks Investment Research raised shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. SL Green Realty currently has an average rating of “Hold” and an average target price of $97.39.
About SL Green Realty
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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.
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