SL Green Realty Corp (NYSE:SLG) – Stock analysts at Jefferies Group issued their FY2020 earnings estimates for shares of SL Green Realty in a research note issued to investors on Wednesday. Jefferies Group analyst J. Petersen anticipates that the real estate investment trust will post earnings of $7.33 per share for the year.
SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.60. SL Green Realty had a return on equity of 1.42% and a net margin of 6.71%. The firm had revenue of $361.30 million for the quarter, compared to analysts’ expectations of $320.48 million. During the same period last year, the business posted $1.43 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis.
SL Green Realty (NYSE:SLG) opened at $98.07 on Monday. SL Green Realty has a one year low of $92.95 and a one year high of $115.34. The stock has a market capitalization of $9,101.19, a price-to-earnings ratio of 15.23, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.11 and a current ratio of 0.11.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a $0.8125 dividend. The ex-dividend date of this dividend was Friday, December 29th. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. This represents a $3.25 annualized dividend and a yield of 3.31%. SL Green Realty’s dividend payout ratio (DPR) is currently 369.32%.
SL Green Realty declared that its Board of Directors has approved a share repurchase plan on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other SL Green Realty news, CEO Marc Holliday purchased 7,880 shares of the stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $25.20 per share, with a total value of $198,576.00. Following the completion of the acquisition, the chief executive officer now owns 88,900 shares of the company’s stock, valued at $2,240,280. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director John S. Levy sold 6,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $103.23, for a total value of $619,380.00. Following the transaction, the director now directly owns 21,827 shares in the company, valued at $2,253,201.21. The disclosure for this sale can be found here. 2.99% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of SLG. Long Pond Capital LP increased its holdings in shares of SL Green Realty by 60.3% during the third quarter. Long Pond Capital LP now owns 2,740,082 shares of the real estate investment trust’s stock valued at $277,625,000 after purchasing an additional 1,031,232 shares during the period. Brookfield Asset Management Inc. increased its holdings in shares of SL Green Realty by 41.6% during the second quarter. Brookfield Asset Management Inc. now owns 1,702,965 shares of the real estate investment trust’s stock valued at $180,174,000 after purchasing an additional 500,665 shares during the period. Koch Industries Inc. acquired a new position in shares of SL Green Realty during the second quarter valued at $316,000. APG Asset Management US Inc. increased its holdings in shares of SL Green Realty by 35.9% during the third quarter. APG Asset Management US Inc. now owns 1,130,500 shares of the real estate investment trust’s stock valued at $114,542,000 after purchasing an additional 298,500 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of SL Green Realty during the second quarter valued at $23,174,000.
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SL Green Realty Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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