SL Green Realty Corporation to Issue Quarterly Dividend of $0.62 (NYSE:SLG)

SL Green Realty Corporation (NYSE:SLG) declared a quarterly dividend on Friday, September 18th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.6175 per share by the real estate investment trust on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 30th.

SL Green Realty has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. SL Green Realty has a payout ratio of -254.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect SL Green Realty to earn $5.91 per share next year, which means the company should continue to be able to cover its $2.47 annual dividend with an expected future payout ratio of 41.8%.

SL Green Realty Stock Performance

Shares of NYSE:SLG traded down $0.19 during mid-day trading on Friday, reaching $52.16. 1,989,363 shares of the company traded hands, compared to its average volume of 1,190,432. The company’s 50 day moving average price is $54.29 and its 200-day moving average price is $47.33. The firm has a market cap of $3.71 billion, a PE ratio of -19.11, a PEG ratio of 2.22 and a beta of 1.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.10 and a quick ratio of 3.10. SL Green Realty has a 52 week low of $34.77 and a 52 week high of $63.03.

SL Green Realty (NYSE:SLG) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The company had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $179.01 million. During the same quarter last year, the business earned $1.63 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts expect that SL Green Realty will post 5.56 EPS for the current fiscal year.

SL Green Realty Company Profile

SL Green Realty Corp. is a self-managed real estate investment trust focused primarily on acquiring, owning, managing and operating commercial properties in Manhattan. The company’s portfolio is centered on office buildings, with additional interests in retail, residential and other mixed-use real estate.

SL Green leases space to businesses across a range of industries and provides property management, leasing, development and redevelopment services. Its Manhattan holdings include prominent office properties such as One Vanderbilt, along with retail and hospitality-related assets.