SL Green Realty Corp (NYSE:SLG) Declares May 20 Dividend of $0.30

SL Green Realty Corp (NYSE:SLG) announced a may 20 dividend on Friday, May 22nd, RTT News reports. Stockholders of record on Friday, May 29th will be given a dividend of 0.295 per share by the real estate investment trust on Monday, June 15th. The ex-dividend date of this dividend is Thursday, May 28th.

SL Green Realty has raised its dividend payment by an average of 4.1% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. SL Green Realty has a payout ratio of 242.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect SL Green Realty to earn $6.80 per share next year, which means the company should continue to be able to cover its $3.54 annual dividend with an expected future payout ratio of 52.1%.

NYSE:SLG opened at $36.83 on Friday. The company has a 50-day moving average price of $45.92 and a 200-day moving average price of $74.33. SL Green Realty has a 12 month low of $35.16 and a 12 month high of $96.39. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 5.06, a P/E/G ratio of 2.06 and a beta of 1.69.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($1.11). SL Green Realty had a net margin of 27.34% and a return on equity of 5.89%. The business had revenue of $314.30 million for the quarter, compared to analysts’ expectations of $233.95 million. During the same period last year, the business earned $1.68 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that SL Green Realty will post 6.79 EPS for the current fiscal year.

A number of brokerages recently issued reports on SLG. ValuEngine cut shares of SL Green Realty from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. SunTrust Banks lowered their price target on shares of SL Green Realty from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Stifel Nicolaus lowered their price target on shares of SL Green Realty from $95.00 to $44.00 and set a “hold” rating for the company in a research report on Friday, April 3rd. Piper Sandler cut shares of SL Green Realty from an “overweight” rating to a “neutral” rating and set a $50.00 price target for the company. in a research report on Friday, April 24th. Finally, Jefferies Financial Group lowered their price target on shares of SL Green Realty from $87.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $73.79.

SL Green Realty Company Profile

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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Dividend History for SL Green Realty (NYSE:SLG)

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