SL Green Realty Corp. (NYSE:SLG) announced a monthly dividend on Wednesday, February 17th, Zacks reports. Investors of record on Friday, February 26th will be paid a dividend of 0.303 per share by the real estate investment trust on Monday, March 15th. This represents a $3.64 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Thursday, February 25th.

SL Green Realty has decreased its dividend by 5.7% over the last three years and has increased its dividend every year for the last 1 years. SL Green Realty has a dividend payout ratio of -700.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect SL Green Realty to earn $6.58 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 55.3%.

Shares of SLG opened at $66.70 on Tuesday. SL Green Realty has a 52 week low of $35.16 and a 52 week high of $92.42. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a market capitalization of $4.70 billion, a P/E ratio of 25.46, a P/E/G ratio of 5.19 and a beta of 1.72. The company has a 50-day simple moving average of $62.88 and a 200-day simple moving average of $54.55.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Tuesday, January 26th. The real estate investment trust reported $2.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.87. SL Green Realty had a net margin of 19.32% and a return on equity of 3.99%. The business had revenue of $190.39 million for the quarter, compared to analysts’ expectations of $191.02 million. During the same period in the prior year, the firm earned $1.75 earnings per share. SL Green Realty’s revenue was down 24.0% compared to the same quarter last year. As a group, equities analysts forecast that SL Green Realty will post 7.08 earnings per share for the current year.

In related news, President Andrew W. Mathias sold 5,928 shares of the firm’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $65.00, for a total value of $385,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.99% of the company’s stock.

Several equities research analysts have weighed in on SLG shares. Smith Barney Citigroup increased their target price on shares of SL Green Realty from $49.00 to $63.00 in a report on Tuesday, December 15th. Piper Sandler increased their target price on shares of SL Green Realty from $50.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, December 2nd. Wells Fargo & Company increased their target price on shares of SL Green Realty from $54.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 8th. Morgan Stanley increased their target price on shares of SL Green Realty from $55.00 to $58.25 and gave the stock an “equal weight” rating in a report on Thursday, January 21st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of SL Green Realty from $49.00 to $63.00 in a report on Tuesday, December 15th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. SL Green Realty has an average rating of “Hold” and a consensus target price of $61.09.

About SL Green Realty

SL Green Realty Corp., an S&P 500 company and Manhattan'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, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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Dividend History for SL Green Realty (NYSE:SLG)

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