SL Green Realty (SLG) Projected to Post Earnings on Wednesday

SL Green Realty (NYSE:SLG) will likely be releasing its earnings data after the market closes on Wednesday, January 22nd. Analysts expect SL Green Realty to post earnings of ($0.45) per share and revenue of $156,295.49 billion for the quarter.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The business had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period in the previous year, the firm posted $1.27 EPS. On average, analysts expect SL Green Realty to post $8 EPS for the current fiscal year and $5 EPS for the next fiscal year.

SL Green Realty Stock Performance

NYSE:SLG traded up $2.12 during mid-day trading on Wednesday, reaching $65.43. 816,750 shares of the company’s stock were exchanged, compared to its average volume of 797,428. SL Green Realty has a one year low of $41.81 and a one 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 business’s fifty day simple moving average is $72.42 and its two-hundred day simple moving average is $68.75. The firm has a market capitalization of $4.31 billion, a PE ratio of -26.17, a price-to-earnings-growth ratio of 4.26 and a beta of 1.82.

SL Green Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 annualized dividend and a dividend yield of 4.72%. SL Green Realty’s dividend payout ratio (DPR) is currently -123.60%.

Wall Street Analysts Forecast Growth

SLG has been the topic of a number of recent research reports. BMO Capital Markets restated an “outperform” rating and set a $87.00 price objective (up previously from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Barclays boosted their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Compass Point boosted 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 report on Wednesday, December 11th. Finally, Mizuho increased their price target on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.