FY2019 EPS Estimates for SL Green Realty Corp Decreased by Analyst (NYSE:SLG)

SL Green Realty Corp (NYSE:SLG) – Equities research analysts at Jefferies Financial Group reduced their FY2019 earnings per share estimates for shares of SL Green Realty in a report issued on Monday, October 14th. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will earn $6.93 per share for the year, down from their previous estimate of $6.94. Jefferies Financial Group also issued estimates for SL Green Realty’s Q2 2020 earnings at $1.78 EPS, Q4 2020 earnings at $1.75 EPS, FY2020 earnings at $7.05 EPS, Q3 2021 earnings at $1.92 EPS and FY2021 earnings at $7.44 EPS.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. SL Green Realty had a net margin of 19.88% and a return on equity of 3.99%. The firm had revenue of $244.96 million during the quarter, compared to analysts’ expectations of $241.61 million. During the same quarter in the prior year, the business earned $1.69 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.

A number of other equities analysts have also recently issued reports on SLG. Robert W. Baird set a $92.00 target price on SL Green Realty and gave the stock a “hold” rating in a report on Wednesday, August 21st. Citigroup decreased their price objective on SL Green Realty from $105.00 to $100.00 and set a “buy” rating for the company in a report on Friday, September 6th. Zacks Investment Research upgraded SL Green Realty from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Wednesday, September 11th. Barclays set a $107.00 price target on SL Green Realty and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Scotiabank downgraded SL Green Realty from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $84.00 in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $92.26.

SL Green Realty stock opened at $81.76 on Wednesday. The company has a market capitalization of $6.61 billion, a P/E ratio of 12.35, a P/E/G ratio of 3.35 and a beta of 1.09. The business has a 50 day moving average of $80.69 and a 200-day moving average of $83.58. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.91 and a quick ratio of 1.91. SL Green Realty has a 1 year low of $75.46 and a 1 year high of $97.59.

Hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of SL Green Realty by 31.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,531 shares of the real estate investment trust’s stock valued at $2,213,000 after buying an additional 6,522 shares during the period. Schroder Investment Management Group acquired a new position in shares of SL Green Realty in the 2nd quarter valued at about $647,000. Asset Management One Co. Ltd. increased its stake in shares of SL Green Realty by 2.1% in the 2nd quarter. Asset Management One Co. Ltd. now owns 205,554 shares of the real estate investment trust’s stock valued at $16,519,000 after purchasing an additional 4,266 shares in the last quarter. 6 Meridian increased its stake in shares of SL Green Realty by 2.8% in the 2nd quarter. 6 Meridian now owns 5,515 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 149 shares in the last quarter. Finally, Pensionfund DSM Netherlands increased its stake in shares of SL Green Realty by 10.5% in the 2nd quarter. Pensionfund DSM Netherlands now owns 44,123 shares of the real estate investment trust’s stock valued at $3,546,000 after purchasing an additional 4,200 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

In other news, Director Edwin T. Burton III sold 7,000 shares of SL Green Realty stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $567,000.00. Following the transaction, the director now directly owns 292 shares in the company, valued at approximately $23,652. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.99% of the company’s stock.

The business also recently declared a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.85 dividend. The ex-dividend date was Friday, September 27th. This represents a dividend yield of 4.2%. SL Green Realty’s dividend payout ratio is presently 51.36%.

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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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

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