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The latest announcement is out from SL Green Realty ( (SLG) ).
SL Green Realty Corp. reported a significant turnaround in its financial results for the fourth quarter of 2024, achieving a net income of $0.13 per share compared to a net loss of $2.45 per share in the same period in 2023. The company’s funds from operations (FFO) also saw a substantial increase, reaching $1.81 per share, aided by gains from discounted debt extinguishment and fair value adjustments on derivatives. The company’s leasing activity was robust, with a 9.0% increase in mark-to-market rates for Manhattan office leases in the fourth quarter. Investments included the sale of an 11.0% interest in One Vanderbilt Avenue, generating significant proceeds, and acquisitions in prime Manhattan locations, further solidifying SL Green’s position in the market. Additionally, the company completed $5.3 billion in strategic debt refinancings and extensions, enhancing its financial flexibility.
More about SL Green Realty
SL Green Realty Corp. is a real estate investment trust (REIT) primarily engaged in acquiring, managing, and maximizing the value of commercial properties in Manhattan, New York City. The company focuses on high-quality office properties and has a strong presence in the Manhattan office market.
YTD Price Performance: -1.78%
Average Trading Volume: 929,502
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $5.12B
For a thorough assessment of SLG stock, go to TipRanks’ Stock Analysis page.
