Equities analysts forecast that SL Green Realty Corp (NYSE:SLG) will post $214.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for SL Green Realty’s earnings, with the highest sales estimate coming in at $217.02 million and the lowest estimate coming in at $212.54 million. SL Green Realty posted sales of $215.37 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.2%. The business is expected to announce its next quarterly earnings results on Wednesday, April 17th.
According to Zacks, analysts expect that SL Green Realty will report full year sales of $853.90 million for the current fiscal year, with estimates ranging from $829.29 million to $871.33 million. For the next year, analysts expect that the company will report sales of $852.94 million, with estimates ranging from $824.27 million to $874.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow SL Green Realty.
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SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, January 23rd. The real estate investment trust reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($2.45). SL Green Realty had a return on equity of 3.82% and a net margin of 20.15%. The firm had revenue of $317.04 million for the quarter, compared to the consensus estimate of $255.12 million. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue was down 12.3% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on SL Green Realty from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Wednesday, October 24th. Barclays upgraded SL Green Realty from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $97.00 to $100.00 in a report on Monday, February 4th. Wells Fargo & Co set a $94.00 price objective on SL Green Realty and gave the stock a “market perform” rating in a report on Wednesday, January 16th. SunTrust Banks restated a “hold” rating and set a $107.00 price objective on shares of SL Green Realty in a report on Tuesday, December 4th. Finally, ValuEngine upgraded SL Green Realty from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $102.65.
Shares of NYSE:SLG traded up $0.62 during trading on Thursday, reaching $91.49. 617,200 shares of the stock were exchanged, compared to its average volume of 671,963. SL Green Realty has a 12 month low of $76.77 and a 12 month high of $106.54. The stock has a market cap of $7.78 billion, a PE ratio of 13.82, a P/E/G ratio of 2.90 and a beta of 1.34. The company has a quick ratio of 1.93, a current ratio of 2.05 and a debt-to-equity ratio of 0.92.
In other SL Green Realty news, CEO Marc Holliday sold 55,000 shares of the company’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $85.04, for a total transaction of $4,677,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Craig M. Hatkoff sold 2,500 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $92.24, for a total transaction of $230,600.00. Following the sale, the director now directly owns 2,352 shares in the company, valued at approximately $216,948.48. The disclosure for this sale can be found here. In the last three months, insiders sold 167,500 shares of company stock worth $14,063,100. 3.65% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in SL Green Realty by 6.0% during the fourth quarter. BlackRock Inc. now owns 9,130,834 shares of the real estate investment trust’s stock valued at $722,065,000 after acquiring an additional 516,276 shares during the last quarter. Boston Partners boosted its position in SL Green Realty by 13.5% during the fourth quarter. Boston Partners now owns 6,317,316 shares of the real estate investment trust’s stock valued at $499,574,000 after acquiring an additional 749,249 shares during the last quarter. FMR LLC boosted its position in SL Green Realty by 12.0% during the third quarter. FMR LLC now owns 5,189,470 shares of the real estate investment trust’s stock valued at $506,128,000 after acquiring an additional 554,789 shares during the last quarter. Morgan Stanley boosted its position in SL Green Realty by 0.6% during the third quarter. Morgan Stanley now owns 4,328,380 shares of the real estate investment trust’s stock valued at $422,147,000 after acquiring an additional 27,430 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in SL Green Realty by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,332,281 shares of the real estate investment trust’s stock valued at $105,202,000 after acquiring an additional 78,771 shares during the last quarter.
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 September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.
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