News headlines about SL Green Realty (NYSE:SLG) have been trending somewhat positive recently, Accern reports. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. SL Green Realty earned a media sentiment score of 0.21 on Accern’s scale. Accern also gave media headlines about the real estate investment trust an impact score of 47.5302111942495 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the media headlines that may have effected Accern’s analysis:
- KeyCorp Equities Analysts Raise Earnings Estimates for SL Green Realty Corp (SLG) (americanbankingnews.com)
- SL Green Realty Corp Forecasted to Earn FY2018 Earnings of $6.72 Per Share (SLG) (americanbankingnews.com)
- Equities Analysts Offer Predictions for SL Green Realty Corp’s FY2017 Earnings (SLG) (americanbankingnews.com)
- SunTrust Banks Equities Analysts Boost Earnings Estimates for SL Green Realty Corporation (SLG) (americanbankingnews.com)
- Jefferies Group Equities Analysts Lower Earnings Estimates for SL Green Realty Corporation (SLG) (americanbankingnews.com)
Shares of SL Green Realty (NYSE SLG) traded up $0.42 during trading hours on Tuesday, hitting $103.02. 682,052 shares of the stock were exchanged, compared to its average volume of 751,641. The company has a market cap of $10,082.06, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. SL Green Realty has a 1 year low of $93.92 and a 1 year high of $115.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.38.
SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($1.17). The company had revenue of $319.50 million during the quarter, compared to the consensus estimate of $326.70 million. SL Green Realty had a return on equity of 1.54% and a net margin of 7.70%. SL Green Realty’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 EPS. research analysts forecast that SL Green Realty will post 6.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be issued a $0.8125 dividend. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.15%. SL Green Realty’s dividend payout ratio is presently 300.97%.
SL Green Realty declared that its Board of Directors has approved a share buyback program on Friday, December 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts recently weighed in on SLG shares. Bank of America lowered shares of SL Green Realty from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $113.00 to $110.00 in a report on Wednesday, August 16th. KeyCorp reaffirmed a “buy” rating and set a $130.00 target price on shares of SL Green Realty in a report on Friday, August 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $104.00 target price (down previously from $106.00) on shares of SL Green Realty in a report on Friday, September 1st. BMO Capital Markets decreased their target price on shares of SL Green Realty from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, September 21st. Finally, Zacks Investment Research lowered shares of SL Green Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $115.62.
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About SL Green Realty
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.
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