SL Green Realty Sees Increased Profits; Beats Estimates (SLG)
Real estate investment trust (REIT), SL Green Realty Corp(SLG) saw an increase in earnings for the quarter, beating analysts estimates on Thursday.
The New York, NY based company reported fourth quarter funds from operations (FFO) of $107 million, or $1.14 per share, up from $90 million, or $1.02 per share. Analysts expected to see EPS of $1.15.
The company reported net income of $20 million, or 22 cents per share, up from $2.8 million, or 3 cents per share last year.
Revenues for the quarter was $350.7 million, up from $329 million last year.
SL Green Realty shares were mostly flat during Thursday morning trading. The stock has increased 9% in the past year.
The Bottom Line
Shares of SL Green Realty Corp(SLG) have a 1.65% yield, based on Thursday morning’s price of $80.23
SL Green Realty Corp(SLG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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