SL Green Realty Corp (SLG) Expected to Post Quarterly Sales of $214.96 Million
Wall Street brokerages expect SL Green Realty Corp (NYSE:SLG) to post sales of $214.96 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for SL Green Realty’s earnings, with estimates ranging from $212.54 million to $217.02 million. SL Green Realty reported sales of $215.37 million in the same quarter last year, which indicates a negative year over year growth rate of 0.2%. The company is expected to issue its next earnings report after the market closes 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 year, with estimates ranging from $829.29 million to $871.33 million. For the next fiscal year, analysts forecast that the firm will report sales of $852.94 million, with estimates ranging from $824.27 million to $874.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover SL Green Realty.
SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 23rd. The real estate investment trust reported ($0.73) EPS for the quarter, missing the consensus estimate of $1.72 by ($2.45). The business had revenue of $317.04 million during the quarter, compared to analyst estimates of $255.12 million. SL Green Realty had a net margin of 20.15% and a return on equity of 3.82%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 earnings per share.
In other SL Green Realty news, CEO Marc Holliday sold 55,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig M. Hatkoff sold 2,500 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $92.24, for a total transaction of $230,600.00. Following the transaction, 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 ninety days, insiders have sold 167,500 shares of company stock worth $14,063,100. 3.65% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. First Trust Advisors LP raised its stake in shares of SL Green Realty by 40.2% in the 3rd quarter. First Trust Advisors LP now owns 38,236 shares of the real estate investment trust’s stock valued at $3,729,000 after acquiring an additional 10,959 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of SL Green Realty by 5.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 109,119 shares of the real estate investment trust’s stock valued at $10,642,000 after acquiring an additional 5,357 shares during the period. US Bancorp DE raised its stake in shares of SL Green Realty by 50.5% in the 3rd quarter. US Bancorp DE now owns 14,093 shares of the real estate investment trust’s stock valued at $1,374,000 after acquiring an additional 4,730 shares during the period. Wells Fargo & Company MN raised its stake in shares of SL Green Realty by 33.3% in the 3rd quarter. Wells Fargo & Company MN now owns 176,490 shares of the real estate investment trust’s stock valued at $17,214,000 after acquiring an additional 44,069 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of SL Green Realty in the 3rd quarter valued at $1,441,000. 97.52% of the stock is currently owned by institutional investors.
Shares of SLG stock traded up $0.09 during trading hours on Friday, hitting $91.52. The company’s stock had a trading volume of 434,714 shares, compared to its average volume of 600,996. The firm has a market capitalization of $7.75 billion, a PE ratio of 13.82, a P/E/G ratio of 2.90 and a beta of 1.31. SL Green Realty has a twelve month low of $76.77 and a twelve month high of $106.54. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.05 and a quick ratio of 2.05.
About SL Green Realty
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 December 31, 2018, SL Green held interests in 101 Manhattan buildings totaling 46.0 million square feet.
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