SL Green Realty Corp. Plans Quarterly Dividend of $0.33 (SLG)
SL Green Realty Corp. (NYSE:SLG) announced a quarterly dividend on Monday, September 16th, American Banking News reports. Stockholders of record on Monday, September 30th will be paid a dividend of $0.33 per share on Tuesday, October 15th. This represents a $1.32 annualized dividend and a dividend yield of 1.46%.
A number of analysts have recently weighed in on SLG shares. Analysts at Cowen and Company downgraded shares of SL Green Realty Corp. (NYSE:SLG) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They now have a $87.00 price target on the stock, down previously from $105.00. On a related note, analysts at TheStreet downgraded shares of SL Green Realty Corp. (NYSE:SLG) to a “hold” rating in a research note to investors on Monday, August 19th. Finally, analysts at ISI Group upgraded shares of SL Green Realty Corp. (NYSE:SLG) from a “cautious” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th.
Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. SL Green Realty Corp. has an average rating of “Hold” and an average target price of $92.94.
SL Green Realty Corp. (NYSE:SLG) opened at 90.21 on Monday. SL Green Realty Corp. has a 52 week low of $70.73 and a 52 week high of $95.83. The stock’s 50-day moving average is $88.70 and its 200-day moving average is $88.51. The company has a market cap of $8.297 billion and a P/E ratio of 149.60.
SL Green Realty Corp. (NYSE:SLG) last released its earnings data on Thursday, July 25th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.27 by $0.15. The company had revenue of $365.15 million for the quarter, compared to the consensus estimate of $288.45 million. During the same quarter in the prior year, the company posted $1.94 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that SL Green Realty Corp. will post $5.01 earnings per share for the current fiscal year.
SL Green Realty Corp., incorporated on June, 10, 1997, is a self-managed real estate investment trust (NYSE:SLG), with in-house capabilities in property management, acquisitions, financing, development, construction and leasing.
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