SL Green Realty Corporation (NYSE:SLG) – Research analysts at SunTrust Banks lowered their Q3 2017 earnings per share (EPS) estimates for SL Green Realty Corporation in a research note issued to investors on Monday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $1.57 per share for the quarter, down from their prior forecast of $1.62. SunTrust Banks also issued estimates for SL Green Realty Corporation’s Q4 2017 earnings at $1.60 EPS, FY2018 earnings at $6.59 EPS, FY2020 earnings at $6.56 EPS and FY2021 earnings at $7.20 EPS.

SL Green Realty Corporation (NYSE:SLG) last released its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($1.54). The company had revenue of $279.41 million during the quarter, compared to analysts’ expectations of $281.40 million. SL Green Realty Corporation had a net margin of 7.20% and a return on equity of 1.43%.

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A number of other research analysts have also recently issued reports on SLG. KeyCorp reiterated a “buy” rating and set a $130.00 price objective on shares of SL Green Realty Corporation in a research note on Tuesday, September 26th. Barclays PLC lowered their price objective on SL Green Realty Corporation from $110.00 to $109.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 1st. Bank of America Corporation cut SL Green Realty Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $113.00 to $110.00 in a research note on Wednesday, August 16th. BMO Capital Markets lowered 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 note on Thursday, September 21st. Finally, BidaskClub cut SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $115.58.

Shares of SL Green Realty Corporation (NYSE:SLG) opened at 104.83 on Wednesday. The company has a 50-day moving average price of $99.64 and a 200-day moving average price of $102.92. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 107.74 and a beta of 1.20. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $115.34.

Hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new position in shares of SL Green Realty Corporation in the first quarter worth $203,000. Achmea Investment Management B.V. purchased a new position in shares of SL Green Realty Corporation in the first quarter worth $224,000. OppenheimerFunds Inc. raised its stake in shares of SL Green Realty Corporation by 13.0% in the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 246 shares during the last quarter. BB&T Securities LLC purchased a new position in shares of SL Green Realty Corporation in the second quarter worth $226,000. Finally, Global X Management Co. LLC raised its stake in shares of SL Green Realty Corporation by 35.1% in the first quarter. Global X Management Co. LLC now owns 2,146 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 557 shares during the last quarter.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.775 dividend. This represents a $3.10 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, September 29th. SL Green Realty Corporation’s dividend payout ratio is currently 319.59%.

SL Green Realty Corporation Company Profile

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.

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

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