SL Green Realty Corp (NYSE:SLG) – Equities researchers at Jefferies Financial Group raised their Q4 2018 earnings estimates for shares of SL Green Realty in a research note issued to investors on Monday, October 22nd. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $1.74 for the quarter, up from their prior estimate of $1.71. Jefferies Financial Group also issued estimates for SL Green Realty’s Q1 2019 earnings at $1.71 EPS, Q3 2019 earnings at $1.78 EPS, Q1 2020 earnings at $1.75 EPS, Q2 2020 earnings at $1.89 EPS, Q3 2020 earnings at $1.80 EPS and FY2020 earnings at $7.29 EPS.
Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of SL Green Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Deutsche Bank upped their target price on shares of SL Green Realty from $111.00 to $114.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. TheStreet upgraded shares of SL Green Realty from a “c+” rating to a “b-” rating in a research report on Friday, August 10th. BMO Capital Markets restated a “$100.62” rating and set a $115.00 target price on shares of SL Green Realty in a research report on Wednesday, July 18th. Finally, Scotiabank assumed coverage on shares of SL Green Realty in a research report on Tuesday, October 16th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $110.54.
Shares of NYSE:SLG opened at $91.83 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.93 and a quick ratio of 2.73. SL Green Realty has a fifty-two week low of $89.46 and a fifty-two week high of $106.54. The firm has a market cap of $8.04 billion, a P/E ratio of 13.98, a P/E/G ratio of 2.92 and a beta of 1.10.
SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 17th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.66). SL Green Realty had a return on equity of 5.20% and a net margin of 26.46%. The company had revenue of $250.87 million for the quarter, compared to the consensus estimate of $242.18 million. During the same quarter in the prior year, the company posted $1.49 EPS. SL Green Realty’s revenue was down 21.5% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of SL Green Realty in the second quarter valued at $104,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of SL Green Realty in the second quarter valued at $143,000. Lenox Wealth Advisors LLC purchased a new stake in shares of SL Green Realty in the second quarter valued at $166,000. Fulton Bank N.A. purchased a new stake in shares of SL Green Realty in the second quarter valued at $204,000. Finally, ING Groep NV purchased a new stake in shares of SL Green Realty in the second quarter valued at $218,000.
In other news, Director John S. Levy sold 1,000 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $103.58, for a total value of $103,580.00. Following the sale, the director now owns 14,827 shares of the company’s stock, valued at $1,535,780.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Andrew W. Mathias sold 65,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $105.34, for a total transaction of $6,847,100.00. Following the completion of the sale, the president now directly owns 277,720 shares in the company, valued at approximately $29,255,024.80. The disclosure for this sale can be found here. 3.65% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.8125 per share. The ex-dividend date was Thursday, September 27th. This represents a $3.25 annualized dividend and a yield of 3.54%. SL Green Realty’s dividend payout ratio (DPR) is currently 50.39%.
SL Green Realty Company Profile
SL Green Realty Corp. is a real estate investment trust, which engages in property management, acquisitions and dispositions, financing, development and redevelopment, construction, and leasing. It operates through the Real Estate, and Debt and Preferred Equity Investments segments. The Real Estate segment consists of security, maintenance, utility costs, real estate taxes and, at certain properties, ground rent expense.
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