SL Green Realty (NYSE:SLG) Posts Quarterly Earnings Results

SL Green Realty (NYSE:SLG) released its quarterly earnings data on Wednesday. The real estate investment trust reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $1.90, Zacks reports. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.11%.

SL Green Realty Trading Down 2.2 %

NYSE SLG opened at $65.74 on Friday. The stock has a market capitalization of $4.33 billion, a PE ratio of 821.70, a price-to-earnings-growth ratio of 5.53 and a beta of 1.82. The firm has a 50 day moving average of $71.13 and a two-hundred day moving average of $69.12. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty has a 52 week low of $41.88 and a 52 week high of $82.81.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.70%. SL Green Realty’s dividend payout ratio is currently 3,862.50%.

Analyst Ratings Changes

SLG has been the subject of several research reports. Compass Point increased their target price on SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Jefferies Financial Group cut their target price on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Mizuho boosted their target price on shares of SL Green Realty from $45.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Scotiabank boosted their price target on shares of SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 target price (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.38.

About SL Green Realty

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.