SL Green Realty (NYSE:SLG) Issues Earnings Results, Beats Estimates By $0.26 EPS

Key Points

• SL Green Realty beat earnings estimates for the quarter, posting EPS of ($0.38) versus the consensus estimate of ($0.64), a beat of $0.26 per share.
• The company also updated FY 2026 guidance to 5.600-5.900 EPS, signaling its outlook for future performance.
• Despite the earnings beat, shares fell 1.4% on the day, and Wall Street’s view remains mixed with a consensus rating of Hold and an average price target of $53.30.

SL Green Realty (NYSE:SLG - Get Free Report) posted its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.26, Zacks reports. SL Green Realty had a negative net margin of 15.77% and a negative return on equity of 4.06%. SL Green Realty updated its FY 2026 guidance to 5.600-5.900 EPS.

SL Green Realty Stock Down 1.4%

Shares of NYSE:SLG traded down $0.71 during trading on Wednesday, reaching $50.11. 1,077,793 shares of the stock traded hands, compared to its average volume of 1,267,821. The stock has a market cap of $3.58 billion, a P/E ratio of -19.97 and a beta of 1.58. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. The stock has a 50-day moving average of $48.32 and a two-hundred day moving average of $43.99. SL Green Realty has a 52-week low of $34.77 and a 52-week high of $66.29.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.9%. SL Green Realty's dividend payout ratio is presently -98.41%.

Hedge Funds Weigh In On SL Green Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLG. AQR Capital Management LLC raised its stake in shares of SL Green Realty by 74.8% in the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust's stock worth $1,519,000 after purchasing an additional 11,506 shares during the last quarter. United Services Automobile Association bought a new position in shares of SL Green Realty during the first quarter valued at $253,000. Empowered Funds LLC boosted its position in shares of SL Green Realty by 10.9% during the first quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust's stock valued at $425,000 after buying an additional 722 shares during the last quarter. Creative Planning bought a new stake in SL Green Realty in the 2nd quarter worth about $421,000. Finally, California Public Employees Retirement System increased its holdings in SL Green Realty by 4.6% in the 2nd quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust's stock worth $8,142,000 after buying an additional 5,789 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Evercore cut shares of SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 price target on the stock. in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on shares of SL Green Realty from $49.00 to $51.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Mizuho lifted their price objective on SL Green Realty from $38.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday. Scotiabank reiterated an "outperform" rating and set a $56.00 target price (up from $53.00) on shares of SL Green Realty in a report on Tuesday. Finally, Citigroup decreased their target price on SL Green Realty from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, March 24th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $53.30.

About SL Green Realty

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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