SL Green Realty (NYSE:SLG) Issues FY25 Earnings Guidance

SL Green Realty (NYSE:SLG) updated its FY25 earnings guidance on Monday. The company provided earnings per share guidance of $5.25-5.55 for the period, compared to the consensus earnings per share estimate of $5.17. SL Green Realty also updated its FY 2024 guidance to 7.650-7.950 EPS.

Analyst Ratings Changes

SLG has been the subject of several analyst reports. Compass Point set a $65.00 price objective on SL Green Realty and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays boosted their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Morgan Stanley raised their price objective on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.00.

SL Green Realty Trading Down 2.9 %

Shares of SLG opened at $74.21 on Wednesday. SL Green Realty has a 52-week low of $40.30 and a 52-week high of $82.81. The stock has a market cap of $4.89 billion, a PE ratio of -29.68, a price-to-earnings-growth ratio of 3.68 and a beta of 1.81. The firm’s fifty day moving average is $75.18 and its two-hundred day moving average is $66.21. 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 (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The business had revenue of $229.69 million for the quarter, compared to analysts’ expectations of $136.66 million. During the same period in the prior year, the company posted $1.27 EPS. Research analysts forecast that SL Green Realty will post 7.59 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.2575 per share. This is an increase from SL Green Realty’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.16%. SL Green Realty’s dividend payout ratio (DPR) is presently -120.00%.

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.