SL Green Realty Corp Forecasted to Post Q4 2018 Earnings of $1.56 Per Share (SLG)
SL Green Realty Corp (NYSE:SLG) – Stock analysts at Jefferies Financial Group cut their Q4 2018 earnings estimates for shares of SL Green Realty in a research note issued to investors on Monday, December 3rd. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will earn $1.56 per share for the quarter, down from their prior forecast of $1.74. Jefferies Financial Group also issued estimates for SL Green Realty’s Q2 2019 earnings at $1.75 EPS, Q3 2019 earnings at $1.74 EPS and Q1 2020 earnings at $1.76 EPS.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 17th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.66). The business had revenue of $250.87 million during the quarter, compared to the consensus estimate of $242.18 million. SL Green Realty had a return on equity of 5.05% and a net margin of 26.46%. The company’s revenue for the quarter was down 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share.
SL Green Realty stock opened at $95.71 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.93 and a current ratio of 1.93. The stock has a market capitalization of $8.06 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09. SL Green Realty has a 52 week low of $89.46 and a 52 week high of $106.54.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.55%. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, December 31st. SL Green Realty’s payout ratio is currently 50.39%.
In related news, CFO Matthew J. Diliberto sold 3,967 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $92.07, for a total transaction of $365,241.69. Following the transaction, the chief financial officer now directly owns 36,234 shares in the company, valued at $3,336,064.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew J. Diliberto sold 35,000 shares of the business’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $92.27, for a total value of $3,229,450.00. Following the transaction, the chief financial officer now owns 36,234 shares in the company, valued at $3,343,311.18. The disclosure for this sale can be found here. Insiders own 3.65% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SLG. AQR Capital Management LLC boosted 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 in the last quarter. Putnam Investments LLC boosted 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 in the last quarter. IFM Investors Pty Ltd boosted 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 in the last quarter. Fulton Bank N.A. boosted 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 in the last quarter. Finally, Pacer Advisors Inc. boosted 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 in the last quarter.
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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