SL Green Realty Corp (SLG) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $3.39 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.23. Analysts had a consensus of $3.16. The company posted revenue of $465.43 million in the period, compared to analysts expectations of $398.23 million. The company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.
Many Wall Street Analysts have commented on SL Green Realty Corp. Shares were Downgraded by UBS on Jul 1, 2016 to ” Neutral” and Lowered the Price Target to $ 107 from a previous price target of $115 .
SL Green Realty Corp opened for trading at $109.37 and hit $110.29 on the upside on Monday, eventually ending the session at $110.25, with a gain of 0.99% or 1.08 points. The heightened volatility saw the trading volume jump to 5,96,936 shares. Company has a market cap of $11,051 M.
In a different news, on Apr 27, 2016, John S Levy (director) sold 12,000 shares at $105.39 per share price. According to the SEC, on Apr 27, 2016, Andrew S Levine (Chief Legal Officer & GC) sold 38,000 shares at $105.93 per share price. On Feb 26, 2016, Craig M Hatkoff (director) sold 2,950 shares at $88.36 per share price, according to the Form-4 filing with the securities and exchange commission.
SL Green Realty Corp. is a self-managed real estate investment trust or REIT with in-house capabilities in property management acquisitions and dispositions financing development and redevelopment construction and leasing. It operates two segments: real estate and debt and preferred equity investments. The Company owns interests in commercial office properties in the New York Metropolitan area primarily in midtown Manhattan. The Company also manages an approximately 336201 square foot office building owned by a third party and held debt and preferred equity investments with a book value of approximately $1.4 billion. The Company also invests in well-collateralized debt and preferred equity investments.