SLG
SL Green Realty Corp.45.75
+0.16+0.35%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
3.47BP/E (TTM)
2287.50Basic EPS (TTM)
0.02Dividend Yield
0.07%Recent Filings
8-K
8-K
SL Green issues preferred units for acquisition
SL Green Operating Partnership issued 172,809 Series X Preferred Units on October 31, 2025, as partial consideration for acquiring membership interests in 800 Third Avenue Associates, LLC, bolstering its commercial real estate holdings. These units carry a $25 liquidation preference and 3.00% annual cash distributions, convertible into common units at $80 per unit, with holders able to redeem for SL Green Realty Corp. common stock. The issuance, exempt under Section 4(a)(2), ranks senior to common units yet allows flexible conversion after two years. Repurchase rights add liquidity for sellers.
10-Q
Q3 FY2025 results
SL Green Realty turned profitable in Q3 2025, posting net income of $35.2 million versus a $9.3 million loss last year, fueled by a $87.3 million gain from selling a 5% stake in One Vanderbilt Avenue. Total revenues climbed 6.6% year-over-year to $244.8 million, with rental revenue up 7.4% to $168.5 million (derived) on stronger Manhattan leasing at $90 per square foot, while SUMMIT ticket sales dipped 9.6% amid maintenance downtime. Expenses rose 22.2% to $298.5 million, driven by higher depreciation and transaction costs, but operating cash flow held steady at $54.4 million year-to-date. Liquidity stands robust at $1.1 billion, including $852.5 million revolver capacity, supporting $2.3 billion in near-term debt maturities. Yet competition from hybrid work models pressures office demand.
8-K
SL Green Q3 profit, FFO up
SL Green Realty swung to Q3 net income of $0.34 per share from a $0.21 loss last year, with FFO at $1.58 per share despite $13.1 million in gaming license costs. Manhattan office occupancy climbed to 92.4%, buoyed by 658,000 square feet leased at $92.81 per square foot, yet same-store cash NOI dipped 4.2% amid rising expenses. Key moves included a $730 million Park Avenue Tower contract closing Q1 2026 and $86.6 million from selling a 5% One Vanderbilt stake, while a $57.2 million debt extinguishment gain offset pressures. Occupancy hits 93.2% by year-end.
8-K
Levine's CLO term extended to 2028
SL Green Realty Corp. extended Andrew S. Levine's role as Chief Legal Officer and General Counsel through January 1, 2028, effective January 1, 2025, with a $600,000 base salary and bonuses up to 300% of base. Annual time-based LTIP units target $1,450,000, vesting over the term with full acceleration on termination without cause or for good reason. This locks in key legal leadership amid real estate volatility. Non-compete lasts six months post-term.
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