SL Green Realty Corp (SLG) Expected to Announce Earnings of $1.72 Per Share
Equities research analysts predict that SL Green Realty Corp (NYSE:SLG) will report $1.72 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for SL Green Realty’s earnings. The lowest EPS estimate is $1.64 and the highest is $1.75. SL Green Realty reported earnings of $1.60 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is scheduled to announce its next earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that SL Green Realty will report full-year earnings of $6.73 per share for the current fiscal year, with EPS estimates ranging from $6.68 to $6.78. For the next financial year, analysts expect that the firm will report earnings of $6.89 per share, with EPS estimates ranging from $6.43 to $7.08. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow SL Green Realty.
SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 17th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.66). The business had revenue of $250.87 million during the quarter, compared to analyst estimates of $242.18 million. SL Green Realty had a net margin of 26.46% and a return on equity of 5.05%. SL Green Realty’s revenue was down 21.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share.
NYSE:SLG opened at $95.42 on Friday. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 3.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.93 and a current ratio of 1.93. SL Green Realty has a 12-month low of $89.46 and a 12-month high of $106.54.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a dividend of $0.8125 per share. The ex-dividend date was Thursday, September 27th. This represents a $3.25 annualized dividend and a dividend yield of 3.41%. SL Green Realty’s payout ratio is currently 50.39%.
In other news, CFO Matthew J. Diliberto sold 35,000 shares of the stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $92.27, for a total transaction of $3,229,450.00. Following the transaction, the chief financial officer now directly owns 36,234 shares in the company, valued at approximately $3,343,311.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John S. Levy sold 1,000 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $103.58, for a total transaction of $103,580.00. Following the transaction, the director now owns 14,827 shares in the company, valued at $1,535,780.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,967 shares of company stock worth $3,698,272. Insiders own 3.65% of the company’s stock.
Several hedge funds have recently made changes to their positions in SLG. Boston Partners lifted its holdings in shares of SL Green Realty by 129.5% during the 2nd quarter. Boston Partners now owns 5,359,391 shares of the real estate investment trust’s stock worth $538,780,000 after acquiring an additional 3,024,243 shares during the period. FMR LLC lifted its holdings in shares of SL Green Realty by 12.0% during the 3rd quarter. FMR LLC now owns 5,189,470 shares of the real estate investment trust’s stock worth $506,128,000 after acquiring an additional 554,789 shares during the period. JPMorgan Chase & Co. increased its position in SL Green Realty by 300.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 681,159 shares of the real estate investment trust’s stock worth $66,434,000 after purchasing an additional 510,858 shares in the last quarter. Advisors Asset Management Inc. increased its position in SL Green Realty by 2,613.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 337,387 shares of the real estate investment trust’s stock worth $1,207,000 after purchasing an additional 324,954 shares in the last quarter. Finally, Bank of America Corp DE increased its position in SL Green Realty by 231.3% during the 2nd quarter. Bank of America Corp DE now owns 454,967 shares of the real estate investment trust’s stock worth $45,739,000 after purchasing an additional 317,654 shares in the last quarter.
About SL Green Realty
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 September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.
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