SL Green Realty Corp (SLG) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. SLG said it had a profit of $1.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $1.50. The company posted revenue of $334.61 million in the period, compared to analysts expectations of $355.50 million. SLG’s revenue was down -8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS.
Many Wall Street Analysts have commented on SL Green Realty Corp. Company shares were Reiterated by Stifel on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $121 .SL Green Realty Corp was Upgraded by Morgan Stanley to ” Overweight” on Jul 25, 2016.
SL Green Realty Corp closed down -0.52 points or -0.49% at $105.07 with 7,69,241 shares getting traded on Friday. Post opening the session at $106.14, the shares hit an intraday low of $104.98 and an intraday high of $106.5599 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 1, 2016, Marc Holliday (CEO) purchased 37,340 shares at $26.92 per share price. According to the SEC, on Aug 1, 2016, Edwin T Iii Burton (director) sold 300 shares at $116.50 per share price. On Jul 27, 2016, Craig M Hatkoff (director) sold 20,500 shares at $115.41 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.