SL Green Realty Corp (NYSE:SLG) – Investment analysts at Jefferies Group issued their FY2020 earnings per share estimates for shares of SL Green Realty in a research note issued to investors on Wednesday. Jefferies Group analyst J. Petersen expects that the real estate investment trust will earn $7.33 per share for the year.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.60. SL Green Realty had a net margin of 6.71% and a return on equity of 1.42%. The business had revenue of $361.30 million during the quarter, compared to analyst estimates of $320.48 million. During the same quarter last year, the firm posted $1.43 earnings per share. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year.
SL Green Realty (NYSE:SLG) opened at $98.07 on Monday. SL Green Realty has a 12 month low of $92.95 and a 12 month high of $115.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.51. The stock has a market cap of $9,101.19, a P/E ratio of 15.23, a P/E/G ratio of 2.42 and a beta of 1.12.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were issued a dividend of $0.8125 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a yield of 3.31%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio (DPR) is presently 369.32%.
SL Green Realty declared that its Board of Directors has approved a share repurchase plan on Friday, December 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other SL Green Realty news, CEO Marc Holliday sold 160,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $100.63, for a total transaction of $16,100,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John S. Levy sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total transaction of $619,380.00. Following the sale, the director now directly owns 21,827 shares in the company, valued at approximately $2,253,201.21. The disclosure for this sale can be found here. 2.99% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Long Pond Capital LP increased its holdings in shares of SL Green Realty by 60.3% in the 3rd quarter. Long Pond Capital LP now owns 2,740,082 shares of the real estate investment trust’s stock valued at $277,625,000 after acquiring an additional 1,031,232 shares during the period. Principal Financial Group Inc. increased its holdings in shares of SL Green Realty by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,174,791 shares of the real estate investment trust’s stock valued at $220,350,000 after acquiring an additional 73,119 shares during the period. PGGM Investments increased its holdings in shares of SL Green Realty by 4.9% in the 3rd quarter. PGGM Investments now owns 2,039,802 shares of the real estate investment trust’s stock valued at $206,673,000 after acquiring an additional 95,000 shares during the period. Brookfield Asset Management Inc. increased its holdings in shares of SL Green Realty by 41.6% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,702,965 shares of the real estate investment trust’s stock valued at $180,174,000 after acquiring an additional 500,665 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of SL Green Realty by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,461,498 shares of the real estate investment trust’s stock valued at $148,077,000 after acquiring an additional 31,571 shares during the period.
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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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