SL Green Realty (NYSE:SLG) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($1.10), Fidelity Earnings reports. SL Green Realty had a net margin of 6.71% and a return on equity of 1.38%. The firm had revenue of $301.70 million for the quarter, compared to analyst estimates of $295.93 million. During the same quarter last year, the business posted $1.57 earnings per share. The firm’s revenue for the quarter was down 20.1% compared to the same quarter last year.
Shares of NYSE SLG opened at $96.51 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market capitalization of $8,768.96, a P/E ratio of 14.96, a P/E/G ratio of 2.39 and a beta of 1.06. SL Green Realty has a 52-week low of $89.46 and a 52-week high of $109.38.
The business also recently announced a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Monday, April 2nd were issued a $0.8125 dividend. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, March 29th. SL Green Realty’s payout ratio is 50.39%.
In other SL Green Realty news, CEO Marc Holliday bought 7,880 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $25.20 per share, with a total value of $198,576.00. Following the completion of the transaction, the chief executive officer now directly owns 88,900 shares in the company, valued at approximately $2,240,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig M. Hatkoff sold 3,400 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total value of $318,682.00. Following the completion of the sale, the director now directly owns 1,365 shares of the company’s stock, valued at approximately $127,941.45. The disclosure for this sale can be found here. Company insiders own 3.09% of the company’s stock.
Several equities analysts have recently issued reports on the company. Jefferies Group reiterated a “hold” rating and set a $100.00 price target on shares of SL Green Realty in a research report on Thursday. BMO Capital Markets reiterated a “buy” rating and set a $120.00 price target on shares of SL Green Realty in a research report on Tuesday, January 9th. Zacks Investment Research cut SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. ValuEngine cut SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks cut SL Green Realty from a “buy” rating to a “hold” rating and set a $108.00 price target on the stock. in a research report on Friday, March 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. SL Green Realty currently has a consensus rating of “Hold” and a consensus target price of $112.69.
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 December 31, 2017, SL Green held interests in 121 Manhattan buildings totaling 50.0 million square feet.
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