SL Green Realty Corporation (SLG) Releases FY17 Earnings Guidance
SL Green Realty Corporation (NYSE:SLG) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $6.40-6.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.55.
Several research analysts have issued reports on the company. BMO Capital Markets cut their price objective on SL Green Realty Corporation from $127.00 to $125.00 and set an outperform rating for the company in a research report on Thursday. Morgan Stanley reiterated an equal weight rating and issued a $104.00 price objective (down previously from $106.00) on shares of SL Green Realty Corporation in a research report on Friday, September 1st. KeyCorp reiterated a buy rating and issued a $130.00 price objective on shares of SL Green Realty Corporation in a research report on Friday, August 25th. Bank of America Corporation cut SL Green Realty Corporation from a buy rating to a neutral rating and cut their price objective for the stock from $113.00 to $110.00 in a research report on Wednesday, August 16th. Finally, BidaskClub cut SL Green Realty Corporation from a sell rating to a strong sell rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $116.15.
SL Green Realty Corporation (NYSE SLG) traded up 3.49% during mid-day trading on Thursday, reaching $101.13. The company’s stock had a trading volume of 1,457,201 shares. The company has a market capitalization of $10.01 billion, a PE ratio of 103.94 and a beta of 1.19. The firm has a 50 day moving average price of $98.42 and a 200-day moving average price of $103.54. SL Green Realty Corporation has a 1-year low of $93.90 and a 1-year high of $115.34.
SL Green Realty Corporation (NYSE:SLG) last released its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($1.54). SL Green Realty Corporation had a net margin of 7.20% and a return on equity of 1.43%. The business had revenue of $279.41 million during the quarter, compared to analyst estimates of $281.40 million. On average, equities analysts predict that SL Green Realty Corporation will post $1.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.775 per share. The ex-dividend date is Friday, September 29th. This represents a $3.10 annualized dividend and a yield of 3.17%. SL Green Realty Corporation’s dividend payout ratio is currently 319.59%.
About SL Green Realty Corporation
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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