SL Green Realty Corp. (SLG) To Go Ex-Dividend on January 31st

SL Green Realty Corp. (NYSE:SLG) announced a monthly dividend on Tuesday, January 21st,Wall Street Journal reports. Investors of record on Friday, January 31st will be given a dividend of 0.2575 per share by the real estate investment trust on Tuesday, February 18th. This represents a $3.09 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, January 31st.

SL Green Realty has decreased its dividend payment by an average of 7.2% annually over the last three years. SL Green Realty has a dividend payout ratio of -243.3% 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 $5.43 per share next year, which means the company should continue to be able to cover its $3.09 annual dividend with an expected future payout ratio of 56.9%.

SL Green Realty Price Performance

NYSE SLG opened at $67.29 on Thursday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average of $71.31 and a two-hundred day moving average of $69.13. SL Green Realty has a 1-year low of $41.88 and a 1-year high of $82.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 22nd. The real estate investment trust reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $1.90. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. On average, sell-side analysts anticipate that SL Green Realty will post 7.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on SLG shares. Barclays boosted their target price on SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Evercore ISI boosted their price target on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research report on Monday, October 21st. Piper Sandler restated an “overweight” rating and set a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. BMO Capital Markets restated an “outperform” rating and issued a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, Mizuho upped their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.38.

SL Green Realty Company Profile

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.