SL Green Realty Corp. (NYSE:SLG) Expected to Post Q2 2024 Earnings of $1.64 Per Share

SL Green Realty Corp. (NYSE:SLG) – Zacks Research cut their Q2 2024 earnings per share estimates for SL Green Realty in a report issued on Tuesday, June 25th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $1.64 per share for the quarter, down from their prior forecast of $1.68. The consensus estimate for SL Green Realty’s current full-year earnings is $7.51 per share. Zacks Research also issued estimates for SL Green Realty’s Q3 2024 earnings at $1.49 EPS, FY2024 earnings at $7.53 EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $1.26 EPS, Q4 2025 earnings at $1.25 EPS and FY2025 earnings at $5.00 EPS.

A number of other analysts also recently commented on the company. JPMorgan Chase & Co. boosted their target price on SL Green Realty from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. StockNews.com raised SL Green Realty to a “sell” rating in a report on Wednesday, May 8th. Scotiabank boosted their price target on SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a report on Tuesday, April 2nd. Morgan Stanley boosted their price target on SL Green Realty from $41.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Finally, Barclays upgraded SL Green Realty from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. Seven research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.46.

SL Green Realty Stock Up 1.8 %

SL Green Realty stock opened at $56.64 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96. SL Green Realty has a 1-year low of $27.86 and a 1-year high of $58.54. The company has a market cap of $3.73 billion, a PE ratio of -6.86, a price-to-earnings-growth ratio of 1.03 and a beta of 1.77. The stock’s 50 day moving average price is $53.15 and its 200 day moving average price is $49.73.

Institutional Trading of SL Green Realty

Institutional investors and hedge funds have recently bought and sold shares of the company. Private Trust Co. NA acquired a new stake in SL Green Realty in the 4th quarter valued at approximately $33,000. Financial Gravity Asset Management Inc. increased its position in SL Green Realty by 3,073.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 922 shares during the period. Fidelis Capital Partners LLC acquired a new stake in SL Green Realty in the 1st quarter valued at approximately $55,000. Rosenberg Matthew Hamilton increased its position in SL Green Realty by 9.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 227 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in SL Green Realty in the 4th quarter valued at approximately $140,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a yield of 5.30%. The ex-dividend date is Friday, June 28th. SL Green Realty’s payout ratio is currently -36.32%.

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.