SL Green Realty Corporation (NYSE:SLG) – Investment analysts at Jefferies Group boosted their FY2018 earnings estimates for SL Green Realty Corporation in a report issued on Monday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings of $6.93 per share for the year, up from their previous forecast of $6.91. Jefferies Group currently has a “Hold” rating and a $113.00 price target on the stock.
Other analysts also recently issued research reports about the company. Bank of America Corporation downgraded SL Green Realty Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $113.00 to $110.00 in a research note on Wednesday, August 16th. BMO Capital Markets reissued a “buy” rating and issued a $127.00 price target on shares of SL Green Realty Corporation in a research note on Tuesday, July 4th. Zacks Investment Research downgraded SL Green Realty Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub cut SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $112.00 price objective on shares of SL Green Realty Corporation in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. SL Green Realty Corporation presently has a consensus rating of “Hold” and a consensus target price of $115.58.
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Shares of SL Green Realty Corporation (NYSE SLG) traded down 1.28% on Wednesday, reaching $97.40. The company’s stock had a trading volume of 986,351 shares. The company has a market cap of $9.64 billion, a P/E ratio of 100.10 and a beta of 1.20. The company has a 50 day moving average price of $100.32 and a 200 day moving average price of $102.78. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $115.34.
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 for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.17). SL Green Realty Corporation had a net margin of 7.70% and a return on equity of 1.49%. The business had revenue of $319.50 million for the quarter, compared to analysts’ expectations of $326.70 million. During the same quarter in the prior year, the firm posted $1.63 EPS. The business’s quarterly revenue was down 4.5% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were issued a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Friday, September 29th. SL Green Realty Corporation’s payout ratio is currently 300.97%.
A number of institutional investors have recently bought and sold shares of SLG. Tudor Investment Corp ET AL bought a new position in SL Green Realty Corporation during the first quarter worth about $203,000. Achmea Investment Management B.V. bought a new position in SL Green Realty Corporation during the first quarter worth about $224,000. BB&T Securities LLC bought a new position in SL Green Realty Corporation during the second quarter worth about $226,000. OppenheimerFunds Inc. grew its holdings in SL Green Realty Corporation by 13.0% during the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 246 shares during the period. Finally, Global X Management Co. LLC grew its holdings in SL Green Realty Corporation by 35.1% during the first quarter. Global X Management Co. LLC now owns 2,146 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 557 shares during the period.
About SL Green Realty Corporation
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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