SL Green Realty (NYSE:SLG) Releases Earnings Results, Beats Estimates By $1.90 EPS

SL Green Realty (NYSE:SLG) announced its earnings results on Wednesday. The real estate investment trust reported $1.45 EPS for the quarter, topping the consensus estimate of ($0.45) by $1.90, Zacks reports. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%.

SL Green Realty Stock Up 0.2 %

SLG stock traded up $0.13 during mid-day trading on Wednesday, hitting $67.29. 1,121,349 shares of the company were exchanged, compared to its average volume of 780,807. The firm has a market cap of $4.44 billion, a P/E ratio of -26.92, a P/E/G ratio of 5.41 and a beta of 1.82. SL Green Realty has a 1-year low of $41.88 and a 1-year high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The firm’s 50 day simple moving average is $71.31 and its 200 day simple moving average is $69.13.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be given a $0.2575 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 annualized dividend and a dividend yield of 4.59%. SL Green Realty’s dividend payout ratio is presently -123.60%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SLG shares. Jefferies Financial Group lowered their price target on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Scotiabank boosted their price objective on SL Green Realty from $80.00 to $81.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. Finally, Compass Point raised their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.38.

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.