SL Green Realty Corporation (NYSE:SLG) to Release Earnings on Wednesday
SL Green Realty Corporation (NYSE:SLG) will be issuing its quarterly earnings data after the market closes on Wednesday, July 19th. Analysts expect the company to announce earnings of $0.48 per share for the quarter.
SL Green Realty Corporation (NYSE:SLG) last issued its quarterly earnings results on Wednesday, April 19th. The real estate investment trust reported $1.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.57. The company had revenue of $377.40 million during the quarter, compared to the consensus estimate of $315.90 million. SL Green Realty Corporation had a return on equity of 2.98% and a net margin of 13.33%. SL Green Realty Corporation’s revenue was down 17.1% on a year-over-year basis. During the same period last year, the company earned $1.85 earnings per share. On average, analysts expect SL Green Realty Corporation to post $6.47 EPS for the current fiscal year and $6.89 EPS for the next fiscal year.
Shares of SL Green Realty Corporation (NYSE SLG) opened at 104.70 on Monday. SL Green Realty Corporation has a 12 month low of $93.90 and a 12 month high of $120.63. The company has a 50-day moving average price of $104.06 and a 200-day moving average price of $107.23. The company has a market capitalization of $10.66 billion, a P/E ratio of 47.31 and a beta of 1.18.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a dividend of $0.775 per share. This represents a $3.10 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, June 28th. SL Green Realty Corporation’s payout ratio is 139.64%.
SLG has been the subject of several research reports. TheStreet cut SL Green Realty Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, April 19th. BidaskClub raised SL Green Realty Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Morgan Stanley lowered SL Green Realty Corporation from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $120.00 to $106.00 in a research note on Tuesday, June 13th. Jefferies Group LLC reissued a “hold” rating and set a $113.00 price objective on shares of SL Green Realty Corporation in a research note on Thursday, April 20th. Finally, Barclays PLC boosted their price objective on SL Green Realty Corporation from $110.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, nine have given 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 $115.75.
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In other news, Director John H. Alschuler, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $106.74, for a total value of $640,440.00. Following the transaction, the director now owns 7,196 shares of the company’s stock, valued at approximately $768,101.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.09% of the company’s stock.
SL Green Realty Corporation Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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