Shares of SL Green Realty Corp (NYSE:SLG) have been given a consensus rating of “Hold” by the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $115.62.
SLG has been the subject of a number of research reports. Stifel Nicolaus lowered their price objective on SL Green Realty from $112.00 to $105.00 and set a “hold” rating for the company in a research report on Tuesday, October 24th. Zacks Investment Research upgraded SL Green Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $104.00 price objective (down from $106.00) on shares of SL Green Realty in a research report on Friday, September 1st. BMO Capital Markets lowered their price objective on SL Green Realty from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, September 21st. Finally, KeyCorp reiterated a “buy” rating and issued a $130.00 price objective on shares of SL Green Realty in a research report on Friday, August 25th.
In other SL Green Realty news, Director John S. Levy sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total transaction of $619,380.00. Following the transaction, the director now owns 21,827 shares in the company, valued at $2,253,201.21. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.99% of the stock is currently owned by company insiders.
Shares of SL Green Realty (NYSE SLG) traded down $2.63 during mid-day trading on Friday, reaching $98.99. The company had a trading volume of 1,126,317 shares, compared to its average volume of 764,933. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market capitalization of $10,199.00, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. SL Green Realty has a 1 year low of $93.92 and a 1 year high of $115.34.
SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($1.17). The firm had revenue of $319.50 million during the quarter, compared to analyst estimates of $326.70 million. SL Green Realty had a return on equity of 1.54% and a net margin of 7.70%. SL Green Realty’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 earnings per share. analysts expect that SL Green Realty will post 6.44 EPS for the current year.
SL Green Realty declared that its Board of Directors has initiated a share buyback program on Friday, December 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.8125 per share. The ex-dividend date is Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a yield of 3.28%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio (DPR) is 300.97%.
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About SL Green Realty
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.
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