Q1 2020 EPS Estimates for SL Green Realty Corp Decreased by Jefferies Financial Group (SLG)
SL Green Realty Corp (NYSE:SLG) – Equities research analysts at Jefferies Financial Group decreased their Q1 2020 earnings estimates for shares of SL Green Realty in a research note issued on Wednesday, April 10th. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings per share of $1.81 for the quarter, down from their prior forecast of $1.82.
Several other equities research analysts also recently commented on SLG. Zacks Investment Research downgraded SL Green Realty from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered SL Green Realty from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Deutsche Bank reissued a “buy” rating and set a $110.00 price target (down from $115.00) on shares of SL Green Realty in a research report on Wednesday. KeyCorp set a $100.00 price target on SL Green Realty and gave the company a “buy” rating in a research report on Thursday, December 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $90.00 price target on shares of SL Green Realty in a research report on Monday, January 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. SL Green Realty currently has an average rating of “Hold” and an average target price of $99.94.
SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 23rd. The real estate investment trust reported ($0.73) EPS for the quarter, missing the consensus estimate of $1.72 by ($2.45). The company had revenue of $317.04 million for the quarter, compared to analysts’ expectations of $255.12 million. SL Green Realty had a net margin of 20.15% and a return on equity of 3.82%. The business’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 28th. This represents a $3.40 dividend on an annualized basis and a yield of 3.76%. SL Green Realty’s dividend payout ratio (DPR) is currently 51.36%.
In other SL Green Realty news, CFO Matthew J. Diliberto sold 2,084 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $91.66, for a total value of $191,019.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Craig M. Hatkoff sold 2,500 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $92.24, for a total value of $230,600.00. Following the completion of the transaction, the director now owns 2,352 shares in the company, valued at approximately $216,948.48. The disclosure for this sale can be found here. Insiders own 3.65% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SLG. CSat Investment Advisory L.P. increased its holdings in shares of SL Green Realty by 55.1% during the fourth quarter. CSat Investment Advisory L.P. now owns 363 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 129 shares in the last quarter. Exane Asset Management purchased a new stake in shares of SL Green Realty during the fourth quarter worth approximately $118,000. Enlightenment Research LLC purchased a new stake in shares of SL Green Realty during the fourth quarter worth approximately $134,000. Point72 Hong Kong Ltd increased its stake in shares of SL Green Realty by 324.3% during the third quarter. Point72 Hong Kong Ltd now owns 1,939 shares of the real estate investment trust’s stock worth $189,000 after buying an additional 1,482 shares during the period. Finally, Advisors Capital Management LLC purchased a new stake in shares of SL Green Realty during the fourth quarter worth approximately $212,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.
SL Green Realty Company Profile
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 December 31, 2018, SL Green held interests in 101 Manhattan buildings totaling 46.0 million square feet.
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