SL Green Realty Corp (NYSE:SLG) – Stock analysts at KeyCorp increased their FY2017 earnings per share estimates for SL Green Realty in a research note issued on Wednesday. KeyCorp analyst C. Mailman now expects that the real estate investment trust will post earnings of $6.44 per share for the year, up from their prior estimate of $6.42. KeyCorp currently has a “Buy” rating and a $130.00 target price on the stock. KeyCorp also issued estimates for SL Green Realty’s Q4 2017 earnings at $1.59 EPS and FY2018 earnings at $6.71 EPS.

Several other brokerages have also recently issued reports on SLG. Stifel Nicolaus dropped their target price on SL Green Realty from $112.00 to $105.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Zacks Investment Research raised SL Green Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $104.00 price target (down previously from $106.00) on shares of SL Green Realty in a research note on Friday, September 1st. BMO Capital Markets decreased their price target on SL Green Realty from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, September 21st. Finally, Bank of America lowered SL Green Realty from a “buy” rating to a “neutral” rating and decreased their price target for the company from $113.00 to $110.00 in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $115.62.

Shares of SL Green Realty (SLG) opened at $102.60 on Monday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10,082.09, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. SL Green Realty has a twelve month low of $93.92 and a twelve month high of $115.34.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($1.17). The company had revenue of $319.50 million during the quarter, compared to analysts’ expectations of $326.70 million. SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 earnings per share.

SL Green Realty declared that its board has initiated a stock buyback program on Friday, December 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.8125 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, December 29th. This represents a $3.25 annualized dividend and a yield of 3.17%. SL Green Realty’s dividend payout ratio is presently 300.97%.

A number of institutional investors and hedge funds have recently bought and sold shares of SLG. Capital Investment Counsel Inc acquired a new position in SL Green Realty during the 3rd quarter worth about $213,000. BB&T Securities LLC acquired a new position in SL Green Realty during the 2nd quarter worth about $226,000. Pacer Advisors Inc. lifted its stake in SL Green Realty by 9.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 203 shares in the last quarter. TLP Group LLC acquired a new position in SL Green Realty during the 2nd quarter worth about $260,000. Finally, Global X Management Co. LLC lifted its stake in SL Green Realty by 14.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,466 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 320 shares in the last quarter.

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About SL Green Realty

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.

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

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