SL Green Realty (SLG) Announces Earnings Results, Misses Estimates By $0.04 EPS

SL Green Realty (NYSE:SLG) announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04), Bloomberg Earnings reports. The company had revenue of $304.30 million during the quarter, compared to analyst estimates of $244.08 million. SL Green Realty had a return on equity of 3.01% and a net margin of 15.39%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 EPS.

NYSE:SLG traded down $0.07 during trading hours on Friday, hitting $84.03. The company’s stock had a trading volume of 13,790 shares, compared to its average volume of 543,923. The firm has a market capitalization of $7.20 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The company has a quick ratio of 2.05, a current ratio of 2.65 and a debt-to-equity ratio of 0.99. SL Green Realty has a twelve month low of $76.77 and a twelve month high of $106.54.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.05%. The ex-dividend date was Thursday, March 28th. SL Green Realty’s dividend payout ratio (DPR) is presently 51.36%.

In other SL Green Realty news, CFO Matthew J. Diliberto sold 2,084 shares of the business’s stock in a transaction on 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Betsy S. Atkins sold 6,470 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $86.08, for a total value of $556,937.60. Following the sale, the director now owns 3,214 shares in the company, valued at $276,661.12. The disclosure for this sale can be found here. Insiders own 3.99% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Commonwealth Bank of Australia raised its position in SL Green Realty by 6.2% during the 1st quarter. Commonwealth Bank of Australia now owns 10,300 shares of the real estate investment trust’s stock valued at $920,000 after purchasing an additional 600 shares during the last quarter. Pictet Asset Management Ltd. raised its position in SL Green Realty by 6.3% during the 1st quarter. Pictet Asset Management Ltd. now owns 52,547 shares of the real estate investment trust’s stock valued at $4,725,000 after purchasing an additional 3,100 shares during the last quarter. PNC Financial Services Group Inc. raised its position in SL Green Realty by 34.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,532 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 653 shares during the last quarter. Advisor Group Inc. raised its position in SL Green Realty by 297.5% during the 1st quarter. Advisor Group Inc. now owns 2,747 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 2,056 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in SL Green Realty by 1.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 169,124 shares of the real estate investment trust’s stock valued at $15,208,000 after purchasing an additional 2,084 shares during the last quarter. Institutional investors and hedge funds own 99.16% of the company’s stock.

A number of research firms have weighed in on SLG. ValuEngine upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Goldman Sachs Group downgraded shares of SL Green Realty from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $115.00 to $92.00 in a research note on Tuesday, January 15th. SunTrust Banks upgraded shares of SL Green Realty from a “hold” rating to a “buy” rating and set a $86.79 price target on the stock in a research note on Tuesday, January 15th. Wells Fargo & Co set a $94.00 price target on shares of SL Green Realty and gave the stock a “market perform” rating in a research note on Wednesday, January 16th. Finally, Barclays raised SL Green Realty from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $97.00 to $100.00 in a report on Monday, February 4th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $97.43.

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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.

See Also: Net Income

Earnings History for SL Green Realty (NYSE:SLG)

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