SL Green Realty (NYSE:SLG) Issues Earnings Results, Beats Estimates By $0.26 EPS

SL Green Realty (NYSE:SLG) issued its earnings results on Wednesday. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.26, Zacks reports. SL Green Realty had a negative net margin of 15.77% and a negative return on equity of 4.06%. SL Green Realty updated its FY 2026 guidance to 5.600-5.900 EPS.

SL Green Realty Price Performance

Shares of SLG traded down $0.71 during mid-day trading on Wednesday, reaching $50.11. The stock had a trading volume of 1,077,793 shares, compared to its average volume of 1,267,821. The business has a fifty day moving average of $48.32 and a 200 day moving average of $43.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.03 and a current ratio of 3.03. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -19.97 and a beta of 1.58. SL Green Realty has a 12 month low of $34.77 and a 12 month high of $66.29.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 annualized dividend and a yield of 4.9%. SL Green Realty’s payout ratio is currently -98.41%.

Wall Street Analysts Forecast Growth

SLG has been the topic of a number of research reports. Wells Fargo & Company raised their price target on SL Green Realty from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Scotiabank reissued an “outperform” rating and issued a $56.00 price objective (up from $53.00) on shares of SL Green Realty in a report on Tuesday. Citigroup cut their target price on shares of SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Morgan Stanley set a $52.00 target price on shares of SL Green Realty and gave the company an “equal weight” rating in a report on Wednesday. Finally, Weiss Ratings upgraded shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $53.30.

Institutional Investors Weigh In On SL Green Realty

A number of institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV boosted its stake in SL Green Realty by 21.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 8,619 shares of the real estate investment trust’s stock valued at $515,000 after buying an additional 1,536 shares during the last quarter. Franklin Resources Inc. increased its stake in SL Green Realty by 32.9% in the 3rd quarter. Franklin Resources Inc. now owns 7,815 shares of the real estate investment trust’s stock worth $467,000 after acquiring an additional 1,933 shares during the last quarter. Jain Global LLC purchased a new stake in shares of SL Green Realty during the 4th quarter worth approximately $444,000. Empowered Funds LLC raised its holdings in shares of SL Green Realty by 10.9% during the 1st quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 722 shares in the last quarter. Finally, Creative Planning bought a new position in shares of SL Green Realty during the 2nd quarter valued at approximately $421,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.