Equities research analysts expect SL Green Realty Corp (NYSE:SLG) to report sales of $212.63 million for the current quarter, Zacks reports. Three analysts have made estimates for SL Green Realty’s earnings, with estimates ranging from $210.70 million to $213.70 million. SL Green Realty reported sales of $265.49 million during the same quarter last year, which would suggest a negative year over year growth rate of 19.9%. The firm is scheduled to report its next quarterly earnings report on Wednesday, January 23rd.
On average, analysts expect that SL Green Realty will report full year sales of $851.36 million for the current fiscal year, with estimates ranging from $849.27 million to $852.65 million. For the next financial year, analysts expect that the business will report sales of $870.16 million, with estimates ranging from $864.68 million to $875.81 million. Zacks’ sales averages are an average based on a survey of research analysts that follow SL Green Realty.
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 consensus estimate of $1.69 by ($0.66). SL Green Realty had a return on equity of 4.24% and a net margin of 21.45%. The firm had revenue of $250.87 million during the quarter, compared to the consensus estimate of $242.18 million. During the same period in the prior year, the company posted $1.49 EPS. The company’s quarterly revenue was down 21.5% on a year-over-year basis.
In other news, Director John S. Levy sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $103.58, for a total transaction of $103,580.00. Following the sale, the director now directly owns 14,827 shares in the company, valued at approximately $1,535,780.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Andrew W. Mathias sold 65,000 shares of the company’s stock in a transaction dated 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 sale, the president now owns 277,720 shares in the company, valued at $29,255,024.80. The disclosure for this sale can be found here. 3.65% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of SL Green Realty by 1.8% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,616 shares of the real estate investment trust’s stock valued at $2,977,000 after buying an additional 511 shares in the last quarter. Fulton Bank N.A. raised its position in shares of SL Green Realty by 27.4% during the 3rd quarter. Fulton Bank N.A. now owns 2,591 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 557 shares in the last quarter. Global X Management Co LLC raised its position in shares of SL Green Realty by 23.9% during the 2nd quarter. Global X Management Co LLC now owns 3,273 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 632 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of SL Green Realty by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 51,296 shares of the real estate investment trust’s stock valued at $5,000,000 after buying an additional 647 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of SL Green Realty by 5.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,575 shares of the real estate investment trust’s stock valued at $1,465,000 after buying an additional 800 shares in the last quarter.
SLG opened at $92.59 on Friday. SL Green Realty has a 52 week low of $89.46 and a 52 week high of $106.54. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 3.02 and a beta of 1.10. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.91.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.8125 per share. This represents a $3.25 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, September 27th. SL Green Realty’s dividend payout ratio is 50.39%.
About SL Green Realty
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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