SL Green Realty (NYSE:SLG) Announces Quarterly Earnings Results, Beats Expectations By $1.90 EPS

SL Green Realty (NYSE:SLG) released its quarterly earnings data on Wednesday. The real estate investment trust reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90, Zacks reports. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%.

SL Green Realty Price Performance

Shares of SLG stock opened at $67.29 on Thursday. SL Green Realty has a 12-month low of $41.88 and a 12-month high of $82.81. The business’s fifty day simple moving average is $71.31 and its 200-day simple moving average is $69.13. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.09 annualized dividend and a yield of 4.59%. SL Green Realty’s dividend payout ratio (DPR) is -123.60%.

Analyst Ratings Changes

Several equities research analysts recently commented on SLG shares. Scotiabank increased their price objective on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Morgan Stanley raised their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Jefferies Financial Group reduced their price target on shares of SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Barclays increased their price objective on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Compass Point lifted their target price on shares of SL Green Realty from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.38.

About SL Green Realty

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.