Analysts expect that SL Green Realty Corp (NYSE:SLG) will report sales of $275.61 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for SL Green Realty’s earnings. The lowest sales estimate is $272.24 million and the highest is $277.43 million. SL Green Realty posted sales of $374.24 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 26.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 24th.

On average, analysts expect that SL Green Realty will report full year sales of $275.61 million for the current financial year, with estimates ranging from $1.11 billion to $1.12 billion. For the next year, analysts forecast that the company will post sales of $1.09 billion per share, with estimates ranging from $950.10 million to $1.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover SL Green Realty.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($1.17). The company had revenue of $319.50 million for 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 revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 earnings per share.

Several analysts have commented on SLG shares. Morgan Stanley reissued an “equal weight” rating and issued a $104.00 price objective (down from $106.00) on shares of SL Green Realty in a report on Friday, September 1st. BMO Capital Markets reissued a “buy” rating and issued a $125.00 price objective on shares of SL Green Realty in a report on Thursday, October 19th. Citigroup dropped their price objective on SL Green Realty from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Monday, October 23rd. Barclays dropped their price objective on SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 1st. Finally, Zacks Investment Research raised SL Green Realty from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned 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 price target of $115.62.

In other news, Director John S. Levy sold 6,000 shares of SL Green Realty stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total value of $619,380.00. Following the sale, the director now directly owns 21,827 shares of the company’s stock, valued at $2,253,201.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.09% of the company’s stock.

Several large investors have recently modified their holdings of the company. Capital Investment Counsel Inc purchased a new position in SL Green Realty during the third quarter worth approximately $213,000. BB&T Securities LLC purchased a new position in SL Green Realty during the second quarter worth approximately $226,000. Pacer Advisors Inc. lifted its position in SL Green Realty by 9.0% during the second quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 203 shares in the last quarter. TLP Group LLC purchased a new position in SL Green Realty during the second quarter worth approximately $260,000. Finally, Global X Management Co. LLC lifted its position in SL Green Realty by 14.9% during the second quarter. Global X Management Co. LLC now owns 2,466 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 320 shares in the last quarter.

SL Green Realty (NYSE:SLG) opened at $103.13 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $10,130.00, a P/E ratio of 16.43, a P/E/G ratio of 2.67 and a beta of 1.18. SL Green Realty has a 12-month low of $93.92 and a 12-month high of $115.34.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a $0.8125 dividend. The ex-dividend date of this dividend is Friday, December 29th. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.15%. SL Green Realty’s payout ratio is currently 306.93%.

SL Green Realty announced that its Board of Directors has initiated a share buyback program on Friday, December 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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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.

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

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