SL Green Realty Corporation (SLG) Releases FY17 Earnings Guidance
SL Green Realty Corporation (NYSE:SLG) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.40-6.50 for the period, compared to the Thomson Reuters consensus estimate of $6.55.
Shares of SL Green Realty Corporation (SLG) opened at 100.67 on Friday. The stock has a 50 day moving average of $98.42 and a 200 day moving average of $103.54. SL Green Realty Corporation has a 12-month low of $93.90 and a 12-month high of $115.34. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 103.46 and a beta of 1.19.
SL Green Realty Corporation (NYSE:SLG) last posted its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($1.54). SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. The firm had revenue of $279.41 million for the quarter, compared to analyst estimates of $281.40 million. On average, equities analysts expect that SL Green Realty Corporation will post $1.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.775 per share. This represents a $3.10 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, September 29th. SL Green Realty Corporation’s dividend payout ratio is currently 319.59%.
SLG has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an equal weight rating and issued a $104.00 price target (down previously from $106.00) on shares of SL Green Realty Corporation in a research note on Friday, September 1st. Citigroup Inc. dropped their price target on SL Green Realty Corporation from $129.00 to $125.00 and set a buy rating for the company in a research note on Wednesday, July 26th. BidaskClub downgraded SL Green Realty Corporation from a sell rating to a strong sell rating in a research note on Friday, August 11th. Barclays PLC dropped their price target on SL Green Realty Corporation from $110.00 to $109.00 and set an equal weight rating for the company in a research note on Tuesday, August 1st. Finally, ValuEngine downgraded SL Green Realty Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $116.15.
WARNING: This report was reported by Daily Political and is the property of of Daily Political. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/09/23/sl-green-realty-corporation-slg-releases-fy17-earnings-guidance.html.
SL Green Realty Corporation 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.
Receive News & Ratings for SL Green Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.