$1.59 Earnings Per Share Expected for SL Green Realty Corp (SLG) This Quarter
Equities research analysts forecast that SL Green Realty Corp (NYSE:SLG) will post $1.59 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for SL Green Realty’s earnings. The lowest EPS estimate is $1.55 and the highest is $1.64. SL Green Realty posted earnings per share of $0.44 in the same quarter last year, which suggests a positive year over year growth rate of 261.4%. The company is expected to issue its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that SL Green Realty will report full-year earnings of $6.44 per share for the current financial year, with EPS estimates ranging from $6.40 to $6.47. For the next year, analysts expect that the firm will report earnings of $6.72 per share, with EPS estimates ranging from $6.65 to $6.81. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow SL Green Realty.
SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.17). SL Green Realty had a return on equity of 1.54% and a net margin of 7.70%. The firm had revenue of $319.50 million during the quarter, compared to analysts’ expectations of $326.70 million. During the same period in the previous year, the company posted $1.63 earnings per share. The company’s quarterly revenue was down 4.5% compared to the same quarter last year.
In other news, Director John S. Levy sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $103.23, for a total value of $619,380.00. Following the transaction, the director now owns 21,827 shares in the company, valued at $2,253,201.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Holliday sold 160,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $100.63, for a total transaction of $16,100,800.00. The disclosure for this sale can be found here. 2.99% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of SLG. BB&T Securities LLC bought a new position in shares of SL Green Realty in the second quarter worth approximately $226,000. Federated Investors Inc. PA grew its holdings in shares of SL Green Realty by 127.1% in the second quarter. Federated Investors Inc. PA now owns 4,187 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 2,343 shares during the last quarter. Andra AP fonden grew its holdings in shares of SL Green Realty by 37.3% in the second quarter. Andra AP fonden now owns 32,000 shares of the real estate investment trust’s stock worth $3,386,000 after purchasing an additional 8,700 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of SL Green Realty by 21.2% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 26,441 shares of the real estate investment trust’s stock worth $2,797,000 after purchasing an additional 4,630 shares during the last quarter. Finally, Utah Retirement Systems lifted its stake in SL Green Realty by 1.6% in the second quarter. Utah Retirement Systems now owns 22,195 shares of the real estate investment trust’s stock worth $2,349,000 after acquiring an additional 355 shares during the period.
Shares of SL Green Realty (NYSE SLG) traded down $0.29 during trading on Friday, hitting $100.64. 841,037 shares of the stock were exchanged, compared to its average volume of 794,750. SL Green Realty has a 52-week low of $93.92 and a 52-week high of $115.34. The stock has a market capitalization of $9,917.96, a P/E ratio of 97.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.11 and a current ratio of 0.11.
SL Green Realty declared that its Board of Directors has approved a share repurchase plan on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.8125 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. This represents a $3.25 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, December 29th. SL Green Realty’s dividend payout ratio (DPR) is presently 300.97%.
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About SL Green Realty
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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