Q4 2024 EPS Estimates for SL Green Realty Corp. (NYSE:SLG) Lowered by Analyst

SL Green Realty Corp. (NYSE:SLG - Free Report) - Research analysts at Zacks Research lowered their Q4 2024 earnings per share (EPS) estimates for shares of SL Green Realty in a note issued to investors on Wednesday, May 8th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $1.34 for the quarter, down from their prior forecast of $1.46. The consensus estimate for SL Green Realty's current full-year earnings is $7.51 per share. Zacks Research also issued estimates for SL Green Realty's Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $1.35 EPS, Q3 2025 earnings at $1.30 EPS, Q4 2025 earnings at $1.28 EPS, FY2025 earnings at $5.13 EPS and Q1 2026 earnings at $1.21 EPS.

A number of other brokerages have also weighed in on SLG. Scotiabank raised their price objective on SL Green Realty from $40.00 to $43.00 and gave the company a "sector underperform" rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on SL Green Realty in a report on Tuesday, January 30th. They set a "hold" rating and a $50.00 target price on the stock. Morgan Stanley raised their price target on SL Green Realty from $41.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, March 28th. Evercore ISI lifted their target price on SL Green Realty from $46.00 to $47.00 and gave the company an "underperform" rating in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. lifted their target price on SL Green Realty from $43.00 to $44.00 and gave the company an "underweight" rating in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, SL Green Realty presently has a consensus rating of "Hold" and a consensus target price of $47.00.

SL Green Realty Stock Down 0.3 %

NYSE SLG traded down $0.18 during mid-day trading on Friday, reaching $52.25. 631,146 shares of the company's stock traded hands, compared to its average volume of 1,246,383. SL Green Realty has a 1-year low of $20.51 and a 1-year high of $55.75. The company has a fifty day simple moving average of $51.40 and a 200-day simple moving average of $44.81. The company has a current ratio of 2.96, a quick ratio of 2.23 and a debt-to-equity ratio of 1.01. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -6.35, a P/E/G ratio of 1.39 and a beta of 1.72.

SL Green Realty Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a $0.25 dividend. The ex-dividend date is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.74%. SL Green Realty's dividend payout ratio (DPR) is -36.32%.

Hedge Funds Weigh In On SL Green Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of SL Green Realty by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust's stock valued at $572,524,000 after purchasing an additional 60,032 shares during the period. Deutsche Bank AG boosted its position in shares of SL Green Realty by 2,563.6% in the 3rd quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust's stock valued at $74,573,000 after purchasing an additional 1,924,221 shares during the period. Wellington Management Group LLP boosted its position in shares of SL Green Realty by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust's stock valued at $50,363,000 after purchasing an additional 78,322 shares during the period. Bank of New York Mellon Corp boosted its position in shares of SL Green Realty by 4.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,033,136 shares of the real estate investment trust's stock valued at $38,536,000 after purchasing an additional 45,247 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in SL Green Realty by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust's stock worth $46,271,000 after acquiring an additional 30,289 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

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.