SLG
SL Green Realty Corp.45.75
+0.16+0.35%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Robust pipeline, AI demand surge
Q&A unpacked a frothy leasing pipeline—over 1M sf under discussion, 800k out to tenants, 900k new ones dominated by finance—beyond prepared remarks' topline stats. AI isn't sparking downsizing but exploding demand, with 13 seekers chasing 200k+ sf amid broader tech hunts for 8M sf. Management clarified economic occupancy revenue hinges on tenant move-ins, with gains mostly organic not sales-driven. Dividend queries drew firm pushback: holistic board view trumps FAD blips, eyeing '27 surge. Asia trip lit up foreign capital frenzy for NYC. Concessions steady, tightening selectively. Watch pipeline conversions.
Key Stats
Market Cap
3.47BP/E (TTM)
2287.50Basic EPS (TTM)
0.02Dividend Yield
0.07%Recent Filings
8-K
Issued Series Y Preferred Units
SL Green Operating Partnership issued 252,000 Series Y Preferred Units at $25.00 liquidation preference, carrying 5.00% annual cash distributions, as partial consideration for acquiring commercial real estate at 65th Street from 65TH STREET RE, LLC on March 4, 2026. Units rank senior to common but on parity with other preferred series. Holders can demand cash repurchase anytime. Non-convertible, transfer-restricted.
8-K
Sitomer named President
SL Green Realty appointed Harrison Sitomer as President on February 27, 2026, while retaining his Chief Investment Officer role; Marc Holliday sheds interim President title but stays Chairman and CEO. Sitomer's four-year deal packs $700,000 base, up to $3.3M time-based equity, $2.5M performance LTIP units, and $750,000 signing bonus. CFO Matthew DiLiberto extended three years through 2029 with $660,000 base, plus hefty equity grants. Leadership locks in continuity.
10-K
FY2025 results
SL Green Realty Corp. boosted Manhattan office leasing to 93.0% occupancy in FY2025 ended December 31, 2025, up 0.5% y/y, signing 199 leases for 2.6M sq ft at $80.73 new cash rent per sq ft (down from $94.04 prior escalated). Same-store portfolio NOI rose 6.6% y/y to $651.9M, driven by consolidations and acquisitions like 500 Park Avenue, yet Q4 momentum slowed with 100 Park Avenue deconsolidation after $23.5M impairment. Debt stood at $4.0B (90.9% fixed), liquidity $782M; no buybacks executed. No annual guidance disclosed. Hybrid work threatens office demand.
8-K
Q4 loss, FFO down, leases up
SL Green reported Q4 2025 net loss of $1.49 per share but FFO of $1.13 per share, down from $1.81 amid absent debt gains. Manhattan office occupancy hit 93.0%, with leases at 6.4% mark-to-market premium. Active deals included $730M Park Avenue Tower buy financed at 5.25% effective and $34.9M from 100 Park JV sale. Leasing momentum holds firm.
8-K
2026 guidance: FFO $4.40-$4.70
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