SL Green Realty (SLG) Expected to Announce Quarterly Earnings on Wednesday

SL Green Realty (NYSE:SLG - Get Free Report) is expected to release its earnings data after the market closes on Wednesday, April 16th. Analysts expect SL Green Realty to post earnings of $1.17 per share and revenue of $158.44 million for the quarter. Parties that wish to listen to the company's conference call can do so using this link.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, analysts expect SL Green Realty to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

SL Green Realty Trading Up 0.9 %

NYSE SLG traded up $0.45 during trading hours on Friday, reaching $49.69. The company's stock had a trading volume of 1,239,512 shares, compared to its average volume of 864,702. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. SL Green Realty has a 52 week low of $45.15 and a 52 week high of $82.81. The firm has a fifty day simple moving average of $59.43 and a 200-day simple moving average of $67.37. The stock has a market cap of $3.54 billion, a P/E ratio of 621.06, a P/E/G ratio of 5.30 and a beta of 1.61.

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SL Green Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from SL Green Realty's previous quarterly dividend of $0.25. SL Green Realty's payout ratio is presently 3,862.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Barclays dropped their price target on SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Mizuho boosted 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 research note on Monday, March 17th. They issued a "hold" rating and a $58.00 price target for the company. Finally, Bank of America reduced their target price on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty has an average rating of "Hold" and an average target price of $69.87.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now directly owns 2,052 shares in the company, valued at $136,047.60. This trade represents a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.08% of the stock is owned by corporate insiders.

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.