Research Analysts Offer Predictions for SL Green Realty Corp.’s Q4 2024 Earnings (NYSE:SLG)

SL Green Realty Corp. (NYSE:SLG) – Equities research analysts at Zacks Research dropped their Q4 2024 earnings per share estimates for SL Green Realty in a research note issued on Tuesday, June 25th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $1.32 for the quarter, down from their previous forecast of $1.34. The consensus estimate for SL Green Realty’s current full-year earnings is $7.53 per share. Zacks Research also issued estimates for SL Green Realty’s Q1 2025 earnings at $1.18 EPS, Q1 2026 earnings at $1.18 EPS and FY2026 earnings at $5.12 EPS.

Several other equities analysts also recently weighed in on the company. Morgan Stanley raised their target price on SL Green Realty from $41.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. StockNews.com upgraded SL Green Realty to a “sell” rating in a research report on Wednesday, May 8th. Scotiabank lifted their price objective on SL Green Realty from $40.00 to $43.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, April 2nd. Barclays raised SL Green Realty from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $35.00 to $48.00 in a research note on Wednesday, March 27th. Finally, Citigroup lifted their price objective on SL Green Realty from $31.00 to $37.00 and gave the company a “sell” rating in a research note on Thursday, June 13th. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.29.

SL Green Realty Stock Performance

NYSE SLG opened at $55.11 on Thursday. The company has a market cap of $3.63 billion, a PE ratio of -6.67, a price-to-earnings-growth ratio of 1.03 and a beta of 1.77. The stock’s 50 day simple moving average is $52.75 and its 200-day simple moving average is $49.49. SL Green Realty has a 1-year low of $27.69 and a 1-year high of $58.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.96 and a quick ratio of 2.96.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 5.44%. The ex-dividend date is Friday, June 28th. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Hedge Funds Weigh In On SL Green Realty

Several institutional investors have recently added to or reduced their stakes in SLG. Private Trust Co. NA acquired a new position in SL Green Realty in the 4th quarter valued at about $33,000. Financial Gravity Asset Management Inc. increased its position in SL Green Realty by 3,073.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 952 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 922 shares during the period. Fidelis Capital Partners LLC acquired a new position in SL Green Realty during the 1st quarter worth approximately $55,000. Rosenberg Matthew Hamilton increased its position in SL Green Realty by 9.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,588 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 227 shares during the period. Finally, GAMMA Investing LLC acquired a new position in SL Green Realty during the 4th quarter worth approximately $140,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

About SL Green Realty

3SL Green Realty Corp., Manhattan’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 June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.