SL Green Realty Corporation (SLG) to Post FY2017 Earnings of $6.42 Per Share, KeyCorp Forecasts
SL Green Realty Corporation (NYSE:SLG) – Research analysts at KeyCorp lowered their FY2017 earnings per share estimates for shares of SL Green Realty Corporation in a research note issued to investors on Tuesday. KeyCorp analyst C. Mailman now anticipates that the real estate investment trust will post earnings per share of $6.42 for the year, down from their previous estimate of $6.59. KeyCorp has a “Buy” rating and a $130.00 price target on the stock. KeyCorp also issued estimates for SL Green Realty Corporation’s FY2018 earnings at $6.61 EPS.
Several other equities analysts have also issued reports on SLG. BidaskClub lowered SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. UBS AG upgraded SL Green Realty Corporation from a “neutral” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Thursday, July 13th. Barclays PLC decreased their price target on SL Green Realty Corporation from $111.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Citigroup Inc. reduced their price objective on SL Green Realty Corporation from $129.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “hold” rating and set a $113.00 price objective on shares of SL Green Realty Corporation in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. SL Green Realty Corporation has a consensus rating of “Hold” and an average price target of $115.00.
SL Green Realty Corporation (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($1.17). SL Green Realty Corporation had a net margin of 7.70% and a return on equity of 1.51%. The firm had revenue of $319.50 million for the quarter, compared to analyst estimates of $326.70 million. During the same period last year, the company earned $1.63 EPS. The company’s revenue was down 4.5% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLG. Tudor Investment Corp ET AL bought a new stake in shares of SL Green Realty Corporation in the 1st quarter valued at about $203,000. Achmea Investment Management B.V. bought a new stake in shares of SL Green Realty Corporation in the 1st quarter valued at about $224,000. BB&T Securities LLC bought a new stake in shares of SL Green Realty Corporation in the 2nd quarter valued at about $226,000. OppenheimerFunds Inc. grew its position in shares of SL Green Realty Corporation by 13.0% in the 1st quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 246 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in shares of SL Green Realty Corporation in the 2nd quarter valued at about $244,000.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were given a $0.775 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.24%. SL Green Realty Corporation’s dividend payout ratio (DPR) is presently 300.97%.
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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