Brokers Set Expectations for SL Green Realty Corp.’s Q4 2024 Earnings (NYSE:SLG)

SL Green Realty Corp. (NYSE:SLG) – Stock analysts at Zacks Research decreased their Q4 2024 EPS estimates for shares of SL Green Realty in a report released on Wednesday, May 8th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will earn $1.34 per share for the quarter, down from their prior forecast of $1.46. The consensus estimate for SL Green Realty’s current full-year earnings is $7.51 per share. Zacks Research also issued estimates for SL Green Realty’s Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $1.35 EPS, Q3 2025 earnings at $1.30 EPS, Q4 2025 earnings at $1.28 EPS, FY2025 earnings at $5.13 EPS and Q1 2026 earnings at $1.21 EPS.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. Scotiabank increased their target price on SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a report on Tuesday, April 2nd. Piper Sandler restated an “overweight” rating and set a $58.00 target price on shares of SL Green Realty in a research report on Tuesday, March 26th. BMO Capital Markets raised shares of SL Green Realty from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $56.00 to $58.00 in a research note on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on SL Green Realty in a research report on Tuesday, January 30th. They set a “hold” rating and a $50.00 price target for the company. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.00.

SL Green Realty Stock Up 2.9 %

SLG stock opened at $52.43 on Friday. The stock has a market capitalization of $3.45 billion, a PE ratio of -6.35, a price-to-earnings-growth ratio of 1.39 and a beta of 1.72. SL Green Realty has a one year low of $20.51 and a one year high of $55.75. The company has a fifty day moving average of $51.40 and a 200-day moving average of $44.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.23 and a current ratio of 2.96.

Hedge Funds Weigh In On SL Green Realty

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in SL Green Realty by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 10,324,945 shares of the real estate investment trust’s stock valued at $466,378,000 after buying an additional 43,241 shares during the last quarter. Deutsche Bank AG lifted its stake in SL Green Realty by 2,563.6% in the 3rd quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after acquiring an additional 1,924,221 shares in the last quarter. Wellington Management Group LLP lifted its position in SL Green Realty by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock worth $50,363,000 after buying an additional 78,322 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of SL Green Realty by 4.6% during the third quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust’s stock worth $38,536,000 after acquiring an additional 45,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in SL Green Realty by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust’s stock valued at $46,271,000 after acquiring an additional 30,289 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

SL Green Realty Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend is Monday, April 29th. SL Green Realty’s dividend payout ratio (DPR) is currently -36.32%.

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.