SL Green Realty (NYSE:SLG) Posts Earnings Results, Misses Expectations By $1.42 EPS

SL Green Realty (NYSE:SLG) posted its quarterly earnings data on Wednesday. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42), Zacks reports. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The firm had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same period in the prior year, the business posted $1.27 EPS.

SL Green Realty Trading Up 1.4 %

Shares of SLG stock opened at $72.72 on Thursday. SL Green Realty has a 12 month low of $28.55 and a 12 month high of $73.80. The company has a market cap of $4.79 billion, a PE ratio of -8.80, a price-to-earnings-growth ratio of 1.86 and a beta of 1.83. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.98. The business’s 50 day moving average is $66.98 and its two-hundred day moving average is $59.32.

SL Green Realty Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 4.13%. SL Green Realty’s dividend payout ratio (DPR) is currently -36.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SLG. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Morgan Stanley lifted their target price on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Evercore ISI raised shares of SL Green Realty from an “underperform” rating to an “inline” rating and increased their price target for the stock from $55.00 to $66.00 in a research report on Monday, September 16th. The Goldman Sachs Group boosted their price objective on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, Scotiabank increased their target price on shares of SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, SL Green Realty has an average rating of “Hold” and a consensus price target of $60.43.

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.