Equities research analysts predict that SL Green Realty Corp (NYSE:SLG) will announce sales of $213.54 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for SL Green Realty’s earnings. The lowest sales estimate is $213.06 million and the highest is $213.86 million. SL Green Realty posted sales of $211.37 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The company is scheduled to report its next quarterly earnings report on Wednesday, July 17th.
On average, analysts expect that SL Green Realty will report full-year sales of $850.82 million for the current fiscal year, with estimates ranging from $844.47 million to $856.96 million. For the next financial year, analysts forecast that the business will post sales of $852.89 million, with estimates ranging from $838.68 million to $863.38 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for SL Green Realty.
SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.04). The firm had revenue of $304.30 million for the quarter, compared to the consensus estimate of $244.08 million. SL Green Realty had a return on equity of 3.01% and a net margin of 15.39%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 earnings per share.
In related news, CFO Matthew J. Diliberto sold 2,084 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $91.66, for a total value of $191,019.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Betsy S. Atkins sold 6,470 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $86.08, for a total value of $556,937.60. Following the completion of the sale, the director now owns 3,214 shares in the company, valued at $276,661.12. The disclosure for this sale can be found here. Corporate insiders own 3.99% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SLG. CSat Investment Advisory L.P. lifted its stake in SL Green Realty by 55.1% in the fourth quarter. CSat Investment Advisory L.P. now owns 363 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 129 shares during the period. Rockefeller Capital Management L.P. lifted its stake in SL Green Realty by 327.4% in the first quarter. Rockefeller Capital Management L.P. now owns 406 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 311 shares during the period. Marshall Wace North America L.P. acquired a new position in SL Green Realty in the first quarter valued at approximately $72,000. Exane Asset Management acquired a new position in SL Green Realty in the fourth quarter valued at approximately $118,000. Finally, Enlightenment Research LLC acquired a new position in SL Green Realty in the fourth quarter valued at approximately $134,000. 98.79% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:SLG opened at $85.61 on Thursday. The stock has a market cap of $7.12 billion, a PE ratio of 12.93, a PEG ratio of 3.30 and a beta of 1.28. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.98. SL Green Realty has a 1-year low of $76.77 and a 1-year high of $106.54.
About SL Green Realty
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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.
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