SL Green Realty completesloan modification at One Madison Avenue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 03 2024
0mins
Should l Buy SLG?
Mortgage Facility Modification: SL Green Realty has modified and extended a $1.25 billion mortgage facility on One Madison Avenue, pushing the maturity date to November 2027 while keeping the interest rate at 3.10% over Term SOFR.
Bank Participation: The mortgage facility involves 14 global banks, with Wells Fargo Bank, N.A. serving as the lead bank.
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Analyst Views on SLG
Wall Street analysts forecast SLG stock price to rise
15 Analyst Rating
5 Buy
9 Hold
1 Sell
Moderate Buy
Current: 43.280
Low
42.00
Averages
54.40
High
66.00
Current: 43.280
Low
42.00
Averages
54.40
High
66.00
About SLG
SL Green Realty Corp. is a fully integrated real estate investment trust. The Company is engaged in the ownership, management, operation, acquisition, development, redevelopment, and repositioning of commercial real estate properties, principally office properties, located in the New York metropolitan area, principally Manhattan. Its segments include real estate, debt and preferred equity investments, and SUMMIT. Its primary business objective is to maximize the total return to stockholders, through dividends, earnings, and asset value appreciation. The Company holds interests in 54 buildings totaling 30.6 million square feet. This included ownership interests in 27.0 million square feet of Manhattan buildings and 2.8 million square feet securing debt and preferred equity investments. Its properties include 1185 Avenue of the Americas, 810 Seventh Avenue, 711 Third Avenue, and 555 West 57th Street, 1350 Avenue of the Americas, and 10 East 53rd Street.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SL Green Realty Reports Record Q1 2026 Leasing Volume and Occupancy Targets
- Record Leasing Volume: SL Green signed 51 leases totaling 930,000 square feet in Q1 2026, marking the largest first quarter in the company's 28-year history, indicating strong market demand that is expected to drive future revenue growth.
- Declining Vacancy Rate: The vacancy rate for trophy buildings dropped to 3.4%, with no new space deliveries anticipated for the next three years, highlighting a tight supply-demand dynamic that should enhance rental rates and overall asset value.
- Upgraded Performance Outlook: SL Green raised its year-end same-store occupancy target from 94.8% to 95%, reflecting management's optimism about market conditions, which is likely to further boost investor confidence and shareholder returns.
- Strategic Development Plans: The company reiterated its $2.5 billion disposition plan and is rapidly advancing projects like 346 Madison and 750 Third Avenue, which are expected to lay the groundwork for future capital structure optimization and cash flow improvement.
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- Price Increase Strategy: PPG Industries announced a global price increase of up to 20%, leading to a 6% stock rise, driven by rising raw material and packaging costs due to volatility in petrochemical, energy, and transportation markets, showcasing the company's proactive approach to cost pressures.
- Space Tech Advancement: Voyager Technologies' stock jumped 7% after being selected by NASA for its seventh private astronaut mission, expected to launch no earlier than 2028, marking a significant recognition and advancement in the space technology sector.
- REIT Challenges: SL Green Realty's shares fell 2% despite net rental revenue of approximately $166 million exceeding expectations of $144.5 million, as funds from operations per share dropped to $0.84 from $1.40 last year, reflecting pressures in the real estate market.
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SL Green's Q1 Earnings Miss Estimates, Stock Drops 4%
- Disappointing Earnings: SL Green (SLG) reported Q1 FFO per share of $0.84, missing the consensus estimate of $1.08, and down from $1.13 in Q4 2025 and $1.40 in Q1 2025, indicating a decline in profitability.
- Revenue and Expense Trends: Q1 revenue was $253.1 million, exceeding the Visible Alpha consensus of $242.4 million, yet down from $276.5 million in the previous quarter, while total expenses were $297.0 million, slightly down from $300.7 million, reflecting ongoing cost control challenges.
- Strong Leasing Activity: In Q1, SL Green signed 51 Manhattan office leases covering 929,264 square feet, marking the highest leasing volume for a first quarter, indicating a rebound in market demand, although it was a decrease from 56 leases in the previous quarter.
- Optimistic Future Outlook: The company expects to increase Manhattan same-store office occupancy to 95.0% by December 31, 2026, demonstrating management's confidence in market recovery despite current financial performance falling short of investor expectations.
See More
SL Green Realty Corp Confirms 2026 FFO Guidance Range of $4.40 to $4.70 per Share
- Company Overview: Green Realty Corp has reaffirmed its guidance for 2026.
- Financial Range: The projected earnings per share are set between $4.40 and $4.70.
See More
SL Green Realty Reports Q1 2026 Earnings Miss with Guidance Reaffirmed
- Earnings Miss: SL Green Realty reported Q1 FFO of $0.84, missing estimates by $0.24, indicating financial strain despite revenue growth, which may dampen investor confidence.
- Revenue Growth: The company achieved revenue of $253.08 million in Q1, reflecting a 5.5% year-over-year increase; however, this growth was insufficient to offset the widening net loss per share, highlighting rising operational costs.
- Widening Net Loss: The net loss attributable to common stockholders for Q1 2026 was $1.20 per share, significantly up from $0.30 per share in the same period of 2025, suggesting increased financial pressure amid changing market conditions, potentially impacting future capital raising efforts.
- Guidance Reaffirmed: SL Green reaffirmed its 2026 FFO guidance range of $4.40 to $4.70 per share, with a midpoint of $4.55, slightly below the consensus of $4.58, reflecting a cautious outlook on future financial performance.
See More
SL Green Realty Reports Record Q1 2026 Leasing Volume and Occupancy Targets
- Record Leasing Volume: SL Green signed 51 leases totaling 930,000 square feet in Q1 2026, marking the largest first quarter in the company's 28-year history, indicating strong market demand that is expected to drive future revenue growth.
- Declining Vacancy Rate: The vacancy rate for trophy buildings dropped to 3.4%, with no new space deliveries anticipated for the next three years, highlighting a tight supply-demand dynamic that should enhance rental rates and overall asset value.
- Upgraded Performance Outlook: SL Green raised its year-end same-store occupancy target from 94.8% to 95%, reflecting management's optimism about market conditions, which is likely to further boost investor confidence and shareholder returns.
- Strategic Development Plans: The company reiterated its $2.5 billion disposition plan and is rapidly advancing projects like 346 Madison and 750 Third Avenue, which are expected to lay the groundwork for future capital structure optimization and cash flow improvement.
See More
AMD Shares Surge 7% Following Price Target Increase
- AMD Stock Surge: AMD shares rose over 7% after Bernstein raised its price target from $235 to $265, with analyst Stacy Rasgon highlighting the company's benefits from strong server CPU demand, which is expected to enhance its market performance further.
- Intel Price Target Increase: Bernstein also lifted Intel's price target from $36 to $60, resulting in a nearly 5% stock increase, reflecting growing market confidence in Intel's future growth potential, which may attract more investor interest.
- Aehr Test Systems Order Boost: Aehr Test Systems announced a $41 million production order from a leading hyperscale AI customer, leading to an 11% stock increase, which not only strengthens the company's market position but also potentially drives future earnings growth.
- PPG Global Price Hike: PPG Industries announced a global price increase of up to 20% across its product portfolio, resulting in about a 5% stock rise, as this move addresses rising raw material and packaging costs, demonstrating the company's proactive strategy in navigating market challenges.
See More
PepsiCo Beats Expectations, Stock Rises 1%
- Earnings Beat: PepsiCo reported first-quarter adjusted earnings of $1.61 per share on revenues of $19.44 billion, surpassing analyst expectations of $1.55 and $18.94 billion, resulting in a 1% stock increase, indicating strong performance in a competitive market.
- Price Increase Strategy: PPG Industries announced a global price increase of up to 20%, leading to a 6% stock rise, driven by rising raw material and packaging costs due to volatility in petrochemical, energy, and transportation markets, showcasing the company's proactive approach to cost pressures.
- Space Tech Advancement: Voyager Technologies' stock jumped 7% after being selected by NASA for its seventh private astronaut mission, expected to launch no earlier than 2028, marking a significant recognition and advancement in the space technology sector.
- REIT Challenges: SL Green Realty's shares fell 2% despite net rental revenue of approximately $166 million exceeding expectations of $144.5 million, as funds from operations per share dropped to $0.84 from $1.40 last year, reflecting pressures in the real estate market.
See More
SL Green's Q1 Earnings Miss Estimates, Stock Drops 4%
- Disappointing Earnings: SL Green (SLG) reported Q1 FFO per share of $0.84, missing the consensus estimate of $1.08, and down from $1.13 in Q4 2025 and $1.40 in Q1 2025, indicating a decline in profitability.
- Revenue and Expense Trends: Q1 revenue was $253.1 million, exceeding the Visible Alpha consensus of $242.4 million, yet down from $276.5 million in the previous quarter, while total expenses were $297.0 million, slightly down from $300.7 million, reflecting ongoing cost control challenges.
- Strong Leasing Activity: In Q1, SL Green signed 51 Manhattan office leases covering 929,264 square feet, marking the highest leasing volume for a first quarter, indicating a rebound in market demand, although it was a decrease from 56 leases in the previous quarter.
- Optimistic Future Outlook: The company expects to increase Manhattan same-store office occupancy to 95.0% by December 31, 2026, demonstrating management's confidence in market recovery despite current financial performance falling short of investor expectations.
See More
SL Green Realty Corp Confirms 2026 FFO Guidance Range of $4.40 to $4.70 per Share
- Company Overview: Green Realty Corp has reaffirmed its guidance for 2026.
- Financial Range: The projected earnings per share are set between $4.40 and $4.70.
See More
SL Green Realty Reports Q1 2026 Earnings Miss with Guidance Reaffirmed
- Earnings Miss: SL Green Realty reported Q1 FFO of $0.84, missing estimates by $0.24, indicating financial strain despite revenue growth, which may dampen investor confidence.
- Revenue Growth: The company achieved revenue of $253.08 million in Q1, reflecting a 5.5% year-over-year increase; however, this growth was insufficient to offset the widening net loss per share, highlighting rising operational costs.
- Widening Net Loss: The net loss attributable to common stockholders for Q1 2026 was $1.20 per share, significantly up from $0.30 per share in the same period of 2025, suggesting increased financial pressure amid changing market conditions, potentially impacting future capital raising efforts.
- Guidance Reaffirmed: SL Green reaffirmed its 2026 FFO guidance range of $4.40 to $4.70 per share, with a midpoint of $4.55, slightly below the consensus of $4.58, reflecting a cautious outlook on future financial performance.
See More
