SL Green Realty Corporation (NYSE:SLG – Get Free Report) declared a quarterly dividend on Wednesday, June 17th. Investors of record on Tuesday, June 30th will be given a dividend of 0.6175 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, June 30th.
SL Green Realty has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. SL Green Realty has a payout ratio of -254.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect SL Green Realty to earn $4.84 per share next year, which means the company should continue to be able to cover its $2.47 annual dividend with an expected future payout ratio of 51.0%.
SL Green Realty Stock Performance
SLG stock opened at $50.65 on Friday. The company has a 50 day moving average price of $44.45 and a 200 day moving average price of $43.06. SL Green Realty has a fifty-two week low of $34.77 and a fifty-two week high of $66.29. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. The stock has a market capitalization of $3.62 billion, a PE ratio of -20.18 and a beta of 1.61.
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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