SL Green Realty Corp (NYSE:SLG) announced a dividend on Friday, September 20th, Fidelity reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.85 per share by the real estate investment trust on Tuesday, October 15th. The ex-dividend date is Friday, September 27th.

SL Green Realty has increased its dividend by an average of 10.6% per year over the last three years and has increased its dividend every year for the last 7 years. SL Green Realty has a dividend payout ratio of 50.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect SL Green Realty to earn $6.97 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 48.8%.

Shares of SLG stock traded down $0.36 on Friday, hitting $81.37. The stock had a trading volume of 1,444,520 shares, compared to its average volume of 636,694. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $79.45 and a 200 day moving average price of $84.80. The company has a market cap of $6.73 billion, a PE ratio of 12.29, a P/E/G ratio of 3.41 and a beta of 1.10. SL Green Realty has a one year low of $75.46 and a one year high of $100.46.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.21. SL Green Realty had a return on equity of 3.99% and a net margin of 19.88%. The company had revenue of $244.96 million for the quarter, compared to analyst estimates of $241.61 million. During the same quarter in the previous year, the firm earned $1.69 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that SL Green Realty will post 6.92 EPS for the current year.

Several equities analysts have issued reports on SLG shares. ValuEngine lowered SL Green Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Stifel Nicolaus cut their target price on SL Green Realty from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup cut their target price on SL Green Realty from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Scotiabank lowered SL Green Realty from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $96.00 to $84.00 in a research note on Friday, August 16th. Finally, Morgan Stanley cut their target price on SL Green Realty from $84.50 to $78.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. SL Green Realty currently has an average rating of “Hold” and a consensus target price of $93.34.

In other news, Director Edwin T. Burton III sold 7,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $81.00, for a total transaction of $567,000.00. Following the sale, the director now owns 292 shares in the company, valued at $23,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.99% of the stock is currently owned by insiders.

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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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Dividend History for SL Green Realty (NYSE:SLG)

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