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

SL Green Realty Corp. (NYSE:SLG) – Analysts at Zacks Research lowered their Q4 2024 EPS estimates for SL Green Realty in a report released on Tuesday, June 25th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $1.32 per share for the quarter, down from their previous estimate 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 analysts also recently issued reports on the stock. Scotiabank boosted their target price on shares of SL Green Realty from $40.00 to $43.00 and gave the company a “sector underperform” rating in a research note on Tuesday, April 2nd. Citigroup boosted their target price on shares of SL Green Realty from $31.00 to $37.00 and gave the company a “sell” rating in a research note on Thursday, June 13th. Barclays upgraded shares of SL Green Realty from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $35.00 to $48.00 in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of SL Green Realty from $43.00 to $44.00 and gave the company an “underweight” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets raised shares of SL Green Realty from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $56.00 to $58.00 in a research report on Thursday, April 18th. Seven analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.29.

SL Green Realty Trading Down 1.0 %

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SLG. Deutsche Bank AG raised its position in SL Green Realty by 2,563.6% in the third quarter. Deutsche Bank AG now owns 1,999,279 shares of the real estate investment trust’s stock worth $74,573,000 after purchasing an additional 1,924,221 shares in the last quarter. Wellington Management Group LLP bought a new stake in SL Green Realty during the third quarter worth about $38,666,000. Norges Bank bought a new stake in SL Green Realty during the fourth quarter worth about $18,664,000. Prospect Financial Services LLC bought a new stake in SL Green Realty during the fourth quarter worth about $12,373,000. Finally, Kettle Hill Capital Management LLC bought a new stake in SL Green Realty during the fourth quarter worth about $11,832,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Friday, June 28th. SL Green Realty’s dividend payout ratio is currently -36.32%.

SL Green Realty Company Profile

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.