SL Green Realty (NYSE:SLG) Issues Earnings Results


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SL Green Realty (NYSE:SLG) posted its quarterly earnings results on Tuesday. The real estate investment trust reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.05, MarketWatch Earnings reports. The business had revenue of $226.10 million during the quarter, compared to the consensus estimate of $188.22 million. SL Green Realty had a net margin of 19.32% and a return on equity of 3.99%. The company’s quarterly revenue was down 28.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 earnings per share.

NYSE SLG traded down $0.46 during trading hours on Thursday, hitting $70.96. 4,955 shares of the stock were exchanged, compared to its average volume of 1,441,587. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average of $72.76 and a 200 day moving average of $61.63. SL Green Realty has a 12-month low of $35.16 and a 12-month high of $77.99. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 5.19 and a beta of 1.72.

The firm also recently announced a mar 21 dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were issued a $0.3033 dividend. The ex-dividend date was Tuesday, March 30th. This represents a dividend yield of 4.8%. SL Green Realty’s payout ratio is 52.00%.

Several equities analysts have commented on the stock. Bank of America restated an “underperform” rating and issued a $70.00 price target (down previously from $74.00) on shares of SL Green Realty in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SL Green Realty from $63.00 to $66.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Morgan Stanley boosted their target price on shares of SL Green Realty from $58.25 to $68.00 and gave the stock an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $68.45.

In other news, President Andrew W. Mathias sold 12,836 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $65.00, for a total value of $834,340.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.99% of the company’s stock.

About SL Green Realty

SL Green Realty Corp., an S&P 500 company and 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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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Earnings History for SL Green Realty (NYSE:SLG)

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