Research Analysts Offer Predictions for SL Green Realty Corporation’s Q3 2017 Earnings (SLG)

SL Green Realty Corporation (NYSE:SLG) – Stock analysts at SunTrust Banks decreased their Q3 2017 earnings per share (EPS) estimates for SL Green Realty Corporation in a research note issued on Monday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $1.57 per share for the quarter, down from their prior forecast of $1.62. SunTrust Banks also issued estimates for SL Green Realty Corporation’s Q4 2017 earnings at $1.60 EPS, FY2018 earnings at $6.59 EPS, FY2020 earnings at $6.56 EPS and FY2021 earnings at $7.20 EPS.

Other research analysts also recently issued research reports about the stock. KeyCorp reaffirmed a “buy” rating and issued a $130.00 target price on shares of SL Green Realty Corporation in a report on Tuesday, September 26th. Barclays PLC dropped their price objective on shares of SL Green Realty Corporation from $110.00 to $109.00 and set an “equal weight” rating for the company in a report on Tuesday, August 1st. Bank of America Corporation cut shares of SL Green Realty Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $113.00 to $110.00 in a research report on Wednesday, August 16th. BMO Capital Markets decreased their target price on shares of SL Green Realty Corporation from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 21st. Finally, BidaskClub cut shares of SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $115.58.

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SL Green Realty Corporation (NYSE:SLG) opened at 104.49 on Wednesday. The stock has a 50 day moving average price of $99.23 and a 200-day moving average price of $102.89. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 107.39 and a beta of 1.20. SL Green Realty Corporation has a 12-month low of $93.90 and a 12-month high of $115.34.

SL Green Realty Corporation (NYSE:SLG) last announced its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($1.54). SL Green Realty Corporation had a net margin of 7.20% and a return on equity of 1.43%. The firm had revenue of $279.41 million for the quarter, compared to the consensus estimate of $281.40 million.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a $0.775 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $3.10 annualized dividend and a yield of 2.97%. SL Green Realty Corporation’s payout ratio is 319.59%.

Large investors have recently bought and sold shares of the business. Thrivent Financial For Lutherans raised its stake in shares of SL Green Realty Corporation by 0.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 52,525 shares of the real estate investment trust’s stock valued at $5,600,000 after acquiring an additional 490 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SL Green Realty Corporation by 32.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,650 shares of the real estate investment trust’s stock worth $5,041,000 after buying an additional 11,735 shares during the period. Paragon Capital Management Ltd purchased a new stake in SL Green Realty Corporation during the 2nd quarter worth approximately $246,000. Lasalle Investment Management Securities LLC increased its stake in SL Green Realty Corporation by 7.5% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 2,349,685 shares of the real estate investment trust’s stock worth $248,597,000 after buying an additional 163,813 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in SL Green Realty Corporation during the 2nd quarter worth approximately $244,000.

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.

Earnings History and Estimates for SL Green Realty Corporation (NYSE:SLG)

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