Equities analysts expect SL Green Realty Corp (NYSE:SLG) to post $1.69 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for SL Green Realty’s earnings. The highest EPS estimate is $1.72 and the lowest is $1.66. SL Green Realty posted earnings per share of $1.49 during the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 17th.
According to Zacks, analysts expect that SL Green Realty will report full year earnings of $6.76 per share for the current year, with EPS estimates ranging from $6.73 to $6.78. For the next fiscal year, analysts anticipate that the business will report earnings of $6.99 per share, with EPS estimates ranging from $6.75 to $7.08. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for SL Green Realty.
SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. The firm had revenue of $301.10 million for the quarter, compared to the consensus estimate of $241.47 million. SL Green Realty had a return on equity of 4.24% and a net margin of 21.45%. The company’s quarterly revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share.
A number of research analysts have recently issued reports on the company. ValuEngine downgraded SL Green Realty from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. Deutsche Bank upped their price target on SL Green Realty from $111.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday, August 29th. TheStreet raised SL Green Realty from a “c+” rating to a “b-” rating in a report on Friday, August 10th. BMO Capital Markets reaffirmed a “$100.62” rating and set a $115.00 price target on shares of SL Green Realty in a report on Wednesday, July 18th. Finally, Morgan Stanley lowered their price target on SL Green Realty from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, June 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $110.54.
Shares of NYSE:SLG traded down $0.67 during midday trading on Thursday, reaching $100.60. 657,000 shares of the company’s stock traded hands, compared to its average volume of 870,133. The company has a market cap of $8.72 billion, a P/E ratio of 15.60, a PEG ratio of 3.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.73 and a quick ratio of 2.73. SL Green Realty has a one year low of $89.46 and a one year high of $106.54.
In other SL Green Realty news, President Andrew W. Mathias sold 65,000 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $105.34, for a total value of $6,847,100.00. Following the transaction, the president now owns 277,720 shares of the company’s stock, valued at $29,255,024.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John S. Levy sold 1,000 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $103.58, for a total value of $103,580.00. Following the completion of the transaction, the director now directly owns 14,827 shares in the company, valued at approximately $1,535,780.66. The disclosure for this sale can be found here. 3.65% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Boston Partners increased its position in SL Green Realty by 129.5% in the second quarter. Boston Partners now owns 5,359,391 shares of the real estate investment trust’s stock worth $538,780,000 after buying an additional 3,024,243 shares in the last quarter. JPMorgan Chase & Co. increased its position in SL Green Realty by 158.7% in the first quarter. JPMorgan Chase & Co. now owns 588,950 shares of the real estate investment trust’s stock worth $57,027,000 after buying an additional 361,279 shares in the last quarter. Advisors Asset Management Inc. increased its position in SL Green Realty by 2,613.6% in the second quarter. Advisors Asset Management Inc. now owns 337,387 shares of the real estate investment trust’s stock worth $1,207,000 after buying an additional 324,954 shares in the last quarter. Bank of America Corp DE increased its position in SL Green Realty by 231.3% in the second quarter. Bank of America Corp DE now owns 454,967 shares of the real estate investment trust’s stock worth $45,739,000 after buying an additional 317,654 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in SL Green Realty by 352.2% in the first quarter. Nuveen Asset Management LLC now owns 188,005 shares of the real estate investment trust’s stock worth $18,205,000 after buying an additional 146,426 shares in the last quarter.
SL Green Realty Company Profile
SL Green Realty Corp., an S&P 500 company and New York City'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, 2018, SL Green held interests in 116 Manhattan buildings totaling 49.3 million square feet.
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