SL Green Realty Corporation

SLG

Equity

ISIN US78440X8873 / Valor 115991808

New York Stock Exchange, Inc (2024-12-24)

USD 68.30+1.14%

SL Green Realty Corporation
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About company

SL Green Realty Corporation is Manhattan's largest office landlord and a fully integrated real estate investment trust (REIT) that specializes in acquiring, managing, and maximizing the value of commercial properties in Manhattan. The company holds interests in 58 buildings totaling 32.5 million square feet, including ownership interests in 28.8 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments.

Summarized from source with an LLMView SourceSector: Finance

Net Loss

SL Green Realty Corporation reported a net loss attributable to common stockholders of $0.04 per share for the second quarter of 2024. This is a significant improvement compared to the net loss of $5.63 per share for the same period in 2023.

Funds from Operations

For the second quarter of 2024, SL Green Realty Corporation reported funds from operations (FFO) of $2.05 per share. This includes gains on discounted debt extinguishments and positive non-cash fair value adjustments on mark-to-market derivatives, compared to FFO of $1.43 per share for the same period in 2023.

Leasing Activity

During the second quarter of 2024, SL Green Realty Corporation signed 38 Manhattan office leases covering 420,513 square feet. The mark-to-market on these signed leases was 15.5% higher than the previous fully escalated rents on the same spaces.

Same-Store Cash NOI

SL Green Realty Corporation's same-store cash net operating income (NOI), including its share from unconsolidated joint ventures, decreased by 1.3% for both the second quarter and the first six months of 2024 compared to the same periods in 2023, excluding lease termination income.

Occupancy Rates

Manhattan same-store office occupancy for SL Green Realty Corporation increased to 89.6% as of June 30, 2024. The company expects to increase this occupancy rate to more than 91.5% by December 31, 2024.

Summarized from source with an LLMView Source

Key figures

48.4%1Y

-7.67%3Y

-29.8%5Y

Performance

36.7%1Y

47.1%3Y

52.8%5Y

Volatility