SL Green Realty Corp. (NYSE:SLG) Expected to Announce Earnings of $1.71 Per Share

Wall Street brokerages expect SL Green Realty Corp. (NYSE:SLGGet Rating) to post earnings per share (EPS) of $1.71 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for SL Green Realty’s earnings, with the highest EPS estimate coming in at $1.79 and the lowest estimate coming in at $1.60. SL Green Realty posted earnings per share of $1.65 during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that SL Green Realty will report full-year earnings of $6.81 per share for the current financial year, with EPS estimates ranging from $6.71 to $6.91. For the next financial year, analysts expect that the company will post earnings of $7.12 per share, with EPS estimates ranging from $6.82 to $7.90. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow SL Green Realty.

SL Green Realty (NYSE:SLGGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10. The company had revenue of $187.96 million for the quarter, compared to the consensus estimate of $163.65 million. SL Green Realty had a return on equity of 9.32% and a net margin of 57.70%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share.

Several analysts have commented on the stock. Barclays upped their target price on shares of SL Green Realty from $83.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of SL Green Realty from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Mizuho began coverage on shares of SL Green Realty in a research note on Friday, April 22nd. They set a “neutral” rating and a $77.00 price objective for the company. TheStreet downgraded shares of SL Green Realty from a “b-” rating to a “c+” rating in a research note on Friday, January 28th. Finally, Truist Financial lowered their price target on shares of SL Green Realty from $85.00 to $80.00 in a report on Tuesday, April 26th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $81.28.

NYSE:SLG opened at $60.96 on Tuesday. The stock’s fifty day moving average price is $73.56 and its two-hundred day moving average price is $75.78. SL Green Realty has a 52-week low of $59.50 and a 52-week high of $85.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 4.36 and a beta of 1.40.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be given a dividend of $0.3108 per share. The ex-dividend date of this dividend is Friday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 2.04%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.30. SL Green Realty’s dividend payout ratio (DPR) is presently 55.08%.

Hedge funds have recently bought and sold shares of the business. Wetherby Asset Management Inc. increased its holdings in shares of SL Green Realty by 4.8% during the fourth quarter. Wetherby Asset Management Inc. now owns 3,169 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 146 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in SL Green Realty by 11.2% in the 4th quarter. Lazard Asset Management LLC now owns 1,455 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 147 shares in the last quarter. Arrow Investment Advisors LLC increased its stake in shares of SL Green Realty by 4.2% in the 4th quarter. Arrow Investment Advisors LLC now owns 3,892 shares of the real estate investment trust’s stock worth $279,000 after acquiring an additional 156 shares during the last quarter. Phocas Financial Corp. increased its stake in shares of SL Green Realty by 1.7% in the 4th quarter. Phocas Financial Corp. now owns 12,062 shares of the real estate investment trust’s stock worth $865,000 after acquiring an additional 197 shares during the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of SL Green Realty by 2.5% during the 3rd quarter. Impax Asset Management Group plc now owns 8,874 shares of the real estate investment trust’s stock worth $629,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

About SL Green Realty (Get Rating)

SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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

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