News articles about SL Green Realty (NYSE:SLG) have trended somewhat positive recently, according to Accern Sentiment. Accern rates the sentiment of press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. SL Green Realty earned a news impact score of 0.20 on Accern’s scale. Accern also gave news stories about the real estate investment trust an impact score of 46.8634834313688 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- SL Green CEO Marc Holliday to Participate in the 4th Annual Anchin Construction & Development Forum on February 15, 2018 (finance.yahoo.com)
- SL Green Realty Corp’s (SLG) CEO Marc Holliday on Q4 2017 Results – Earnings Call Transcript (seekingalpha.com)
- SL Green Realty’s Series I Preferred Stock Yield Pushes Past 6.5% (nasdaq.com)
- SL Green Realty Sees Unusually High Options Volume (SLG) (americanbankingnews.com)
Several research analysts have recently commented on SLG shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $125.00 price target on shares of SL Green Realty in a report on Thursday, October 19th. SunTrust Banks set a $115.00 price target on shares of SL Green Realty and gave the company a “buy” rating in a report on Saturday, October 21st. Citigroup cut their price objective on shares of SL Green Realty from $125.00 to $123.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Robert W. Baird lifted their price objective on shares of SL Green Realty from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $114.83.
Shares of SL Green Realty (NYSE:SLG) traded up $1.75 during trading hours on Thursday, reaching $95.54. 1,040,004 shares of the company traded hands, compared to its average volume of 1,113,644. The company has a market cap of $8,706.78, a P/E ratio of 108.57, a PEG ratio of 2.32 and a beta of 1.12. SL Green Realty has a 12-month low of $89.46 and a 12-month high of $115.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.11 and a current ratio of 0.11.
SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, hitting analysts’ consensus estimates of $1.60. SL Green Realty had a net margin of 6.71% and a return on equity of 1.42%. The company had revenue of $361.30 million for the quarter, compared to the consensus estimate of $320.48 million. During the same period in the previous year, the firm earned $1.43 EPS. SL Green Realty’s revenue was down 3.4% on a year-over-year basis. sell-side analysts anticipate that SL Green Realty will post 6.74 EPS for the current fiscal year.
SL Green Realty announced that its board has approved a share repurchase program on Friday, December 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Friday, December 29th. SL Green Realty’s payout ratio is 369.32%.
In related news, Director Craig M. Hatkoff sold 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $93.73, for a total value of $318,682.00. Following the sale, the director now directly owns 1,365 shares in the company, valued at approximately $127,941.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Holliday sold 160,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $100.63, for a total transaction of $16,100,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 169,400 shares of company stock worth $17,038,862 over the last 90 days. 3.09% of the stock is owned by insiders.
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SL Green Realty Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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