Brokerages Anticipate SL Green Realty Corp (NYSE:SLG) Will Announce Earnings of $1.73 Per Share

Equities analysts expect SL Green Realty Corp (NYSE:SLG) to post earnings per share (EPS) of $1.73 for the current quarter, Zacks reports. Four analysts have made estimates for SL Green Realty’s earnings. The lowest EPS estimate is $1.71 and the highest is $1.76. SL Green Realty posted earnings per share of $1.69 in the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The firm is scheduled to announce its next earnings report on Wednesday, October 16th.

On average, analysts expect that SL Green Realty will report full-year earnings of $6.92 per share for the current year, with EPS estimates ranging from $6.79 to $6.99. For the next fiscal year, analysts forecast that the company will report earnings of $6.97 per share, with EPS estimates ranging from $6.84 to $7.23. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow SL Green Realty.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $1.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.21. The company had revenue of $244.96 million for the quarter, compared to the consensus estimate of $241.61 million. SL Green Realty had a return on equity of 3.99% and a net margin of 19.88%. SL Green Realty’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.69 EPS.

A number of equities research analysts recently commented on SLG shares. Morgan Stanley set a $85.00 price objective on SL Green Realty and gave the company a “sell” rating in a report on Monday, June 17th. ValuEngine lowered SL Green Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $100.00 price objective on shares of SL Green Realty in a research report on Thursday, April 18th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $95.70.

In other SL Green Realty news, Director Edwin T. Burton III sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $567,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.99% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in shares of SL Green Realty in the first quarter worth $72,000. Pearl River Capital LLC acquired a new position in SL Green Realty during the second quarter valued at approximately $125,000. KCS Wealth Advisory acquired a new stake in shares of SL Green Realty in the first quarter valued at approximately $200,000. Quantum Capital Management acquired a new stake in shares of SL Green Realty in the first quarter valued at approximately $201,000. Finally, Raymond James Trust N.A. bought a new position in shares of SL Green Realty during the first quarter worth approximately $216,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

NYSE SLG traded up $0.72 on Tuesday, reaching $78.01. The company had a trading volume of 693,740 shares, compared to its average volume of 642,655. The company has a 50 day moving average of $80.51. The company has a market capitalization of $6.39 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 3.26 and a beta of 1.10. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.65 and a current ratio of 1.91. SL Green Realty has a 52 week low of $75.46 and a 52 week high of $106.54.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Thursday, June 27th. SL Green Realty’s dividend payout ratio is currently 51.36%.

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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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Earnings History and Estimates for SL Green Realty (NYSE:SLG)

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