SL Green Realty (NYSE:SLG) Releases Earnings Results

SL Green Realty (NYSE:SLG) released its quarterly earnings data on Wednesday. The real estate investment trust reported $1.45 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $1.90, Zacks reports. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%.

SL Green Realty Stock Up 0.2 %

NYSE SLG opened at $67.29 on Thursday. The business’s 50-day moving average is $71.31 and its 200 day moving average is $69.13. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty has a 1 year low of $41.88 and a 1 year high of $82.81.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty’s payout ratio is -123.60%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $80.00 in a report on Tuesday, December 10th. Jefferies Financial Group decreased their target price on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Evercore ISI raised their price objective on SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, Compass Point lifted their price target on shares of SL Green Realty from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.38.

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.