There are many powerful catalysts in the market: SL Green Realty Corp. (SLG) can be one of them

SL Green Realty Corp. (NYSE: SLG) closed the day trading at $41.62 up 2.21% from the previous closing price of $40.72. In other words, the price has increased by $+1.21 from its previous closing price. On the day, 700223 shares were traded. SLG stock price reached its highest trading level at $41.85 during the session, while it also had its lowest trading level at $40.71.

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For a better understanding of SLG, let’s look at its different ratios. In the meantime, Its Debt-to-Equity ratio is 1.28 whereas as Long-Term Debt/Eq ratio is at 1.28.

Upgrades & Downgrades

On September 08, 2022, BMO Capital Markets Upgraded its rating to Outperform which previously was Market Perform and also lowered its target price recommendation from $60 to $56.

On June 23, 2022, Credit Suisse started tracking the stock assigning a Neutral rating and target price of $51.Credit Suisse initiated its Neutral rating on June 23, 2022, with a $51 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Feb 17 when BURTON EDWIN T III sold 3,476 shares for $81.40 per share. The transaction valued at 282,946 led to the insider holds 0 shares of the business.

HATKOFF CRAIG M sold 3,560 shares of SLG for $275,224 on Feb 14. The Director now owns 3,616 shares after completing the transaction at $77.31 per share. On Dec 07, another insider, ALSCHULER JOHN H JR, who serves as the Director of the company, sold 6,000 shares for $74.96 each. As a result, the insider received 449,760 and left with 585 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 3.39 while its Price-to-Book (P/B) ratio in mrq is 0.60.

Stock Price History:

Over the past 52 weeks, SLG has reached a high of $85.15, while it has fallen to a 52-week low of $35.77. The 50-Day Moving Average of the stock is 39.73, while the 200-Day Moving Average is calculated to be 55.86.

Shares Statistics:

Over the past 3-months, SLG traded about 1.12M shares per day on average, while over the past 10 days, SLG traded about 707.17k shares per day. A total of 63.95M shares are outstanding, with a floating share count of 62.99M. Insiders hold about 0.38% of the company’s shares, while institutions hold 85.70% stake in the company. Shares short for SLG as of Oct 13, 2022 were 7.35M with a Short Ratio of 8.34M, compared to 6.75M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 11.43% and a Short% of Float of 16.48%.

Dividends & Splits

SLG’s forward annual dividend rate is 3.73, up from 3.65 a year ago. Against a Trailing Annual Dividend Yield of 9.04%, it implies a Forward Annual Dividend Yield of 9.40%. The stock’s 5-year Average Dividend Yield is 4.84.

Earnings Estimates

Current recommendations for the stock of the company come from 2 analysts. On average, analysts expect EPS of $0.08 for the current quarter, with a high estimate of $0.1 and a low estimate of $0.06, while EPS last year was -$0.82. The consensus estimate for the next quarter is $0.14, with high estimates of $0.14 and low estimates of $0.14.

Analysts are recommending an EPS of between $1.35 and $0.02 for the fiscal current year, implying an average EPS of $0.69. EPS for the following year is $0.17, with 3 analysts recommending between $0.43 and -$0.02.

Revenue Estimates

4 analysts predict $176.72M in revenue for the current quarter. It ranges from a high estimate of $209.73M to a low estimate of $150M. As of the current estimate, SL Green Realty Corp.’s year-ago sales were $150.11M, an estimated increase of 17.70% from the year-ago figure. For the next quarter, 2 analysts are estimating revenue of $183.17M, an increase of 17.40% less than the figure of $17.70% in the same quarter last year. There is a high estimate of $196.5M for the next quarter, whereas the lowest estimate is $169.85M.

A total of 4 analysts have provided revenue estimates for SLG’s current fiscal year. The highest revenue estimate was $729M, while the lowest revenue estimate was $620.1M, resulting in an average revenue estimate of $677.76M. In the same quarter a year ago, actual revenue was $678.18M, down -0.10% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $706.33M in the next fiscal year. The high estimate is $857.34M and the low estimate is $615M. The average revenue growth estimate for next year is up 4.20% from the average revenue estimate for this year.