SunTrust Banks restated their hold rating on shares of SL Green Realty (NYSE:SLG) in a research report sent to investors on Tuesday morning. They currently have a $107.00 price target on the real estate investment trust’s stock. SunTrust Banks also issued estimates for SL Green Realty’s Q4 2018 earnings at $1.54 EPS, FY2018 earnings at $6.55 EPS, Q1 2019 earnings at $1.71 EPS, Q2 2019 earnings at $1.75 EPS, Q3 2019 earnings at $1.73 EPS, Q4 2019 earnings at $1.76 EPS, FY2019 earnings at $6.95 EPS, FY2020 earnings at $7.01 EPS, FY2021 earnings at $7.55 EPS and FY2022 earnings at $8.42 EPS.

SLG has been the subject of a number of other reports. TheStreet raised shares of SL Green Realty from a c+ rating to a b- rating in a research note on Friday, August 10th. ValuEngine cut shares of SL Green Realty from a hold rating to a sell rating in a research report on Monday, September 24th. Scotiabank assumed coverage on shares of SL Green Realty in a research report on Tuesday, October 16th. They set an outperform rating for the company. JPMorgan Chase & Co. cut shares of SL Green Realty from an overweight rating to a neutral rating in a research report on Friday, October 5th. Finally, Robert W. Baird cut shares of SL Green Realty from an outperform rating to a neutral rating and lowered their price target for the stock from $109.00 to $103.00 in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $108.27.

Shares of NYSE SLG opened at $95.71 on Tuesday. SL Green Realty has a 1-year low of $89.46 and a 1-year high of $106.54. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 3.17 and a beta of 1.09. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.86.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 17th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.66). SL Green Realty had a return on equity of 5.05% and a net margin of 26.46%. The company had revenue of $250.87 million during the quarter, compared to the consensus estimate of $242.18 million. During the same period in the prior year, the firm posted $1.49 earnings per share. The company’s revenue was down 21.5% on a year-over-year basis. On average, equities research analysts anticipate that SL Green Realty will post 6.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be given a dividend of $0.85 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 3.55%. SL Green Realty’s payout ratio is currently 50.39%.

In related news, CFO Matthew J. Diliberto sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $92.27, for a total transaction of $3,229,450.00. Following the completion of the transaction, the chief financial officer now owns 36,234 shares in the company, valued at $3,343,311.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew J. Diliberto sold 3,967 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $92.07, for a total transaction of $365,241.69. Following the transaction, the chief financial officer now owns 36,234 shares of the company’s stock, valued at approximately $3,336,064.38. The disclosure for this sale can be found here. 3.65% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in SL Green Realty by 2.8% during the third quarter. AQR Capital Management LLC now owns 20,035 shares of the real estate investment trust’s stock valued at $1,954,000 after purchasing an additional 545 shares during the period. Putnam Investments LLC grew its holdings in SL Green Realty by 0.5% during the third quarter. Putnam Investments LLC now owns 118,471 shares of the real estate investment trust’s stock valued at $11,555,000 after purchasing an additional 546 shares during the period. IFM Investors Pty Ltd grew its holdings in SL Green Realty by 18.1% during the third quarter. IFM Investors Pty Ltd now owns 3,588 shares of the real estate investment trust’s stock valued at $350,000 after purchasing an additional 551 shares during the period. Fulton Bank N.A. grew its holdings in SL Green Realty by 27.4% during the third quarter. Fulton Bank N.A. now owns 2,591 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 557 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in SL Green Realty by 14.5% during the third quarter. Pacer Advisors Inc. now owns 4,822 shares of the real estate investment trust’s stock valued at $470,000 after purchasing an additional 612 shares during the period.

SL Green Realty Company Profile

SL Green Realty Corp., an S&P 500 company and New York City'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 September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.

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Analyst Recommendations for SL Green Realty (NYSE:SLG)

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