SL Green Realty (NYSE:SLG) Announces Earnings Results

SL Green Realty (NYSE:SLG - Get Free Report) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.13, Zacks reports. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The company had revenue of $144.52 million for the quarter, compared to the consensus estimate of $158.44 million.

SL Green Realty Stock Down 0.0 %

SLG stock traded down $0.01 during mid-day trading on Friday, hitting $52.30. The stock had a trading volume of 1,295,972 shares, compared to its average volume of 855,003. SL Green Realty has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a fifty day moving average of $58.08 and a 200 day moving average of $66.80. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 653.79, a PEG ratio of 5.30 and a beta of 1.61.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 1.97%. SL Green Realty's payout ratio is 3,862.50%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.30, for a total transaction of $229,066.50. Following the transaction, the director now directly owns 2,052 shares of the company's stock, valued at $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on SLG shares. Morgan Stanley boosted their target price on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 12th. Mizuho increased their price objective on SL Green Realty from $45.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Jefferies Financial Group initiated coverage on SL Green Realty in a report on Monday, March 17th. They issued a "hold" rating and a $58.00 target price on the stock. Truist Financial upped their target price on SL Green Realty from $61.00 to $62.00 and gave the company a "hold" rating in a report on Monday, January 27th. Finally, Wells Fargo & Company dropped their price target on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, SL Green Realty currently has an average rating of "Hold" and a consensus price target of $69.87.

SL Green Realty Company Profile

3SL Green Realty Corp., 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 June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.