SL Green Realty (NYSE:SLG) Issues Earnings Results, Beats Expectations By $0.13 EPS

SL Green Realty (NYSE:SLG - Get Free Report) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $1.40 EPS for the quarter, topping the consensus estimate of $1.27 by $0.13, Zacks reports. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The business had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million.

SL Green Realty Price Performance

Shares of NYSE SLG traded down $2.18 during trading on Monday, hitting $50.21. 1,057,866 shares of the company were exchanged, compared to its average volume of 852,978. The firm's fifty day moving average price is $58.08 and its 200 day moving average price is $66.77. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 627.63, a PEG ratio of 5.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. SL Green Realty has a 1 year low of $45.15 and a 1 year high of $82.81.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, April 30th. SL Green Realty's dividend payout ratio is presently 3,862.50%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SLG shares. Wells Fargo & Company dropped their target price on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Barclays cut their target price on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Morgan Stanley upped their price objective on SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 12th. Evercore ISI raised SL Green Realty from an "in-line" rating to an "outperform" rating and reduced their price objective for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Finally, Bank of America lowered their target price on shares of SL Green Realty from $80.00 to $73.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of "Hold" and a consensus target price of $68.67.

Insider Buying and Selling

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,455 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the sale, the director now directly owns 2,052 shares of the company's stock, valued at approximately $136,047.60. This trade represents a 62.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.08% of the stock is currently owned by insiders.

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.