SL Green Realty (SLG) Expected to Announce Quarterly Earnings on Wednesday

SL Green Realty (NYSE:SLG) is expected to post its quarterly earnings results after the market closes on Wednesday, April 16th. Analysts expect SL Green Realty to post earnings of $1.17 per share and revenue of $158.44 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, analysts expect SL Green Realty to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

SL Green Realty Trading Up 0.9 %

Shares of SLG stock opened at $49.69 on Monday. SL Green Realty has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 621.06, a PEG ratio of 5.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. The stock has a 50 day simple moving average of $59.43 and a 200-day simple moving average of $67.37.

SL Green Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.2575 per share. The ex-dividend date is Monday, March 31st. This is a boost from SL Green Realty’s previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a yield of 2.07%. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Insider Activity at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.30, for a total value of $229,066.50. Following the transaction, the director now owns 2,052 shares of the company’s stock, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America cut their target price on shares of SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Barclays cut their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Evercore ISI upgraded SL Green Realty from an “in-line” rating to an “outperform” rating and decreased their target price for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Scotiabank dropped their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Truist Financial raised their price objective on SL Green Realty from $61.00 to $62.00 and gave the company a “hold” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and an average target price of $69.87.

About SL Green Realty

3SL Green Realty Corp., 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 June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.