SL Green Realty Corp (NYSE:SLG) – Stock analysts at Jefferies Group increased their FY2018 EPS estimates for SL Green Realty in a note issued to investors on Tuesday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings per share of $6.72 for the year, up from their previous estimate of $6.63. Jefferies Group also issued estimates for SL Green Realty’s FY2019 earnings at $7.12 EPS.

Several other brokerages have also issued reports on SLG. BTIG Research raised SL Green Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. SunTrust Banks set a $117.00 price target on SL Green Realty and gave the company a “buy” rating in a research note on Tuesday, December 5th. Zacks Investment Research lowered SL Green Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating and set a $130.00 price target on shares of SL Green Realty in a research note on Tuesday, September 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $125.00 price target on shares of SL Green Realty in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $115.62.

SL Green Realty (NYSE SLG) opened at $102.60 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.11 and a quick ratio of 0.11. SL Green Realty has a one year low of $93.92 and a one year high of $115.34. The company has a market capitalization of $10,080.00, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.64 and a beta of 1.18.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.17). The business 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 period in the prior year, the firm posted $1.63 EPS.

A number of large investors have recently added to or reduced their stakes in the business. Keybank National Association OH lifted its stake in SL Green Realty by 2.3% in the second quarter. Keybank National Association OH now owns 3,533 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 79 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in SL Green Realty by 1.4% in the second 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 buying an additional 104 shares during the period. GAM Holding AG lifted its stake in SL Green Realty by 1.1% in the second quarter. GAM Holding AG now owns 12,259 shares of the real estate investment trust’s stock valued at $1,297,000 after buying an additional 135 shares during the period. Pacer Advisors Inc. lifted its stake in SL Green Realty by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 203 shares during the period. Finally, Global X Management Co. LLC lifted its stake in SL Green Realty by 14.9% in the second quarter. Global X Management Co. LLC now owns 2,466 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 320 shares during the period.

SL Green Realty announced that its Board of Directors has initiated a stock repurchase program on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors 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 paid a $0.8125 dividend. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.25 annualized dividend and a yield of 3.17%. SL Green Realty’s dividend payout ratio is presently 306.93%.

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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.

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

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