Equities research analysts expect SL Green Realty Corp (NYSE:SLG) to post $215.63 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for SL Green Realty’s earnings, with estimates ranging from $210.63 million to $218.00 million. SL Green Realty reported sales of $221.76 million during the same quarter last year, which indicates a negative year over year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report on Wednesday, October 16th.
According to Zacks, analysts expect that SL Green Realty will report full-year sales of $859.05 million for the current financial year, with estimates ranging from $844.47 million to $866.64 million. For the next year, analysts expect that the business will report sales of $853.83 million, with estimates ranging from $838.68 million to $874.62 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for SL Green Realty.
SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.21. SL Green Realty had a return on equity of 3.99% and a net margin of 19.88%. The business had revenue of $244.96 million during the quarter, compared to the consensus estimate of $241.61 million. During the same quarter in the prior year, the company posted $1.69 earnings per share. SL Green Realty’s revenue was up 2.7% compared to the same quarter last year.
SLG has been the topic of a number of recent research reports. Morgan Stanley set a $85.00 price target on SL Green Realty and gave the company a “sell” rating in a research report on Monday, June 17th. ValuEngine lowered SL Green Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Finally, Scotiabank lowered SL Green Realty from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $84.00 in a research report on Friday, August 16th. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $94.73.
SLG stock traded up $1.01 during midday trading on Thursday, hitting $78.27. The company’s stock had a trading volume of 483,541 shares, compared to its average volume of 643,935. SL Green Realty has a 1 year low of $75.46 and a 1 year high of $105.00. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.01. The stock’s 50-day moving average price is $80.12 and its 200 day moving average price is $86.39. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 3.32 and a beta of 1.10.
In other SL Green Realty news, Director Edwin T. Burton III sold 7,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $567,000.00. Following the sale, the director now directly owns 292 shares of the company’s stock, valued at approximately $23,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.99% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in SL Green Realty by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,332,281 shares of the real estate investment trust’s stock worth $105,202,000 after acquiring an additional 78,771 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in SL Green Realty during the 1st quarter valued at about $417,000. Virtu Financial LLC acquired a new position in SL Green Realty during the 1st quarter valued at about $513,000. Raymond James Trust N.A. acquired a new position in SL Green Realty during the 1st quarter valued at about $216,000. Finally, Meeder Asset Management Inc. lifted its position in SL Green Realty by 6.8% during the 1st quarter. Meeder Asset Management Inc. now owns 8,467 shares of the real estate investment trust’s stock valued at $761,000 after purchasing an additional 538 shares during the period. 97.49% of the stock is currently owned by hedge funds and other institutional investors.
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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.
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