SL Green Realty (SLG) Expected to Announce Earnings on Wednesday

SL Green Realty (NYSE:SLG) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of ($0.45) per share and revenue of $156,295.49 billion for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

SL Green Realty Stock Up 0.8 %

Shares of NYSE:SLG opened at $65.85 on Monday. The business has a 50-day moving average price of $71.81 and a 200 day moving average price of $68.98. SL Green Realty has a 12-month low of $41.81 and a 12-month high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -26.34, a PEG ratio of 5.08 and a beta of 1.82.

SL Green Realty Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.69%. SL Green Realty’s payout ratio is presently -123.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SLG shares. Scotiabank raised their target price on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Evercore ISI boosted their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Morgan Stanley increased their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating and set a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.38.

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.