Equities analysts expect that SL Green Realty Corp (NYSE:SLG) will report earnings of $1.59 per share for the current quarter, Zacks reports. Five analysts have made estimates for SL Green Realty’s earnings, with estimates ranging from $1.55 to $1.64. SL Green Realty reported earnings of $1.43 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, January 24th.
On average, analysts expect that SL Green Realty will report full year earnings of $6.44 per share for the current fiscal year, with EPS estimates ranging from $6.40 to $6.47. For the next fiscal year, analysts forecast that the business will post earnings of $6.70 per share, with EPS estimates ranging from $6.62 to $6.75. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover SL Green Realty.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.17). SL Green Realty had a return on equity of 1.54% and a net margin of 7.70%. The business had revenue of $319.50 million for the quarter, compared to the consensus estimate of $326.70 million. During the same quarter in the previous year, the business posted $1.63 EPS. The company’s revenue for the quarter was down 4.5% on a year-over-year basis.
In other news, CEO Marc Holliday sold 160,000 shares of SL Green Realty stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $100.63, for a total value of $16,100,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John S. Levy sold 6,000 shares of SL Green Realty stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $103.23, for a total transaction of $619,380.00. Following the completion of the sale, the director now owns 21,827 shares of the company’s stock, valued at $2,253,201.21. The disclosure for this sale can be found here. 2.99% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Long Pond Capital LP raised its position in SL Green Realty by 60.3% during the third 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 purchasing an additional 1,031,232 shares in the last quarter. Brookfield Asset Management Inc. raised its position in SL Green Realty by 41.6% during the second 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 purchasing an additional 500,665 shares in the last quarter. Koch Industries Inc. acquired a new position in SL Green Realty during the second quarter valued at approximately $316,000. APG Asset Management US Inc. raised its position in SL Green Realty by 35.9% during the third quarter. APG Asset Management US Inc. now owns 1,130,500 shares of the real estate investment trust’s stock valued at $114,542,000 after purchasing an additional 298,500 shares in the last quarter. Finally, FMR LLC raised its position in SL Green Realty by 8.9% during the second quarter. FMR LLC now owns 2,846,095 shares of the real estate investment trust’s stock valued at $301,117,000 after purchasing an additional 232,516 shares in the last quarter.
Shares of SL Green Realty (NYSE SLG) traded down $0.26 during mid-day trading on Tuesday, reaching $95.47. 616,500 shares of the company’s stock traded hands, compared to its average volume of 778,011. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $9,381.43, a P/E ratio of 92.69, a PEG ratio of 2.38 and a beta of 1.18. SL Green Realty has a 1 year low of $93.92 and a 1 year high of $115.34.
SL Green Realty announced that its board has authorized a share repurchase plan on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a $0.8125 dividend. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, December 29th. SL Green Realty’s payout ratio is presently 315.54%.
SL Green Realty 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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