SL Green Realty (NYSE:SLG) Posts Quarterly Earnings Results, Misses Expectations By $1.42 EPS

SL Green Realty (NYSE:SLG) released its quarterly earnings data on Wednesday. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42), Zacks reports. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The firm had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the previous year, the company earned $1.27 earnings per share.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $72.72 on Thursday. The business has a fifty day moving average of $66.98 and a 200-day moving average of $59.32. SL Green Realty has a twelve month low of $28.55 and a twelve month high of $73.80. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.59 and a current ratio of 2.59. The firm has a market cap of $4.79 billion, a PE ratio of -8.80, a price-to-earnings-growth ratio of 1.86 and a beta of 1.83.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.13%. SL Green Realty’s payout ratio is presently -36.32%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SLG shares. Truist Financial raised their price objective on SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Barclays lifted their price target on shares of SL Green Realty from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com raised shares of SL Green Realty to a “sell” rating in a research report on Friday, July 19th. Compass Point upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $60.00 in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $60.43.

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.