Equities Analysts Issue Forecasts for SL Green Realty Corporation’s Q3 2017 Earnings (SLG)

SL Green Realty Corporation (NYSE:SLG) – Equities researchers at SunTrust Banks cut their Q3 2017 EPS estimates for shares of SL Green Realty Corporation in a research note issued to investors on Monday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $1.57 per share for the quarter, down from their prior forecast of $1.62. SunTrust Banks also issued estimates for SL Green Realty Corporation’s Q4 2017 earnings at $1.60 EPS, FY2018 earnings at $6.59 EPS, FY2020 earnings at $6.56 EPS and FY2021 earnings at $7.20 EPS.

SL Green Realty Corporation (NYSE:SLG) last posted its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($1.54). SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. The firm had revenue of $279.41 million for the quarter, compared to the consensus estimate of $281.40 million.

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Several other research analysts have also recently commented on SLG. Goldman Sachs Group, Inc. (The) started coverage on SL Green Realty Corporation in a research note on Thursday, June 22nd. They set a “buy” rating and a $121.00 target price for the company. BMO Capital Markets reissued a “buy” rating and set a $127.00 target price on shares of SL Green Realty Corporation in a research note on Tuesday, July 4th. BidaskClub cut SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. UBS AG raised SL Green Realty Corporation from a “neutral” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Thursday, July 13th. Finally, Barclays PLC lowered their target price on SL Green Realty Corporation from $111.00 to $110.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $115.58.

SL Green Realty Corporation (NYSE:SLG) opened at 104.90 on Wednesday. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $115.34. The stock’s 50 day moving average price is $99.45 and its 200-day moving average price is $102.90. The company has a market cap of $10.38 billion, a P/E ratio of 107.81 and a beta of 1.20.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Somerset Trust Co raised its stake in SL Green Realty Corporation by 0.5% during the 2nd quarter. Somerset Trust Co now owns 4,052 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 19 shares during the last quarter. Keybank National Association OH raised its stake in SL Green Realty Corporation by 2.3% during the 2nd quarter. Keybank National Association OH now owns 3,533 shares of the real estate investment trust’s stock valued at $374,000 after acquiring an additional 79 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in SL Green Realty Corporation by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,570 shares of the real estate investment trust’s stock valued at $914,000 after acquiring an additional 80 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in SL Green Realty Corporation by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the real estate investment trust’s stock valued at $667,000 after acquiring an additional 100 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in SL Green Realty Corporation by 1.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,565 shares of the real estate investment trust’s stock valued at $800,000 after acquiring an additional 104 shares during the last quarter.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a $0.775 dividend. This represents a $3.10 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, September 29th. SL Green Realty Corporation’s payout ratio is currently 319.59%.

About SL Green Realty Corporation

SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.

Earnings History and Estimates for SL Green Realty Corporation (NYSE:SLG)

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