SL Green Realty (SLG) AI Stock Analysis

• Market Cap: $3.38B
• Dividend Yield: 6.97%
• Average Volume (3M): 1.35M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.14
• Revenue Growth: 8.60%
• EPS Growth: N/A
• Country: US
• Employees: 1,221
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): 0.34
• Shares Outstanding: 71,025,890
• 10 Day Avg. Volume: 1,824,177
• 30 Day Avg. Volume: 1,348,560
• PEG Ratio: -8.63
• Price to Book (P/B): 6.71
• Price to Sales (P/S): 37.50
• P/FCF Ratio: 334.58
• Enterprise Value/Market Cap: 3.16
• Enterprise Value/Revenue: 15.94
• Enterprise Value/Gross Profit: 33.34
• Enterprise Value/Ebitda: 58.33
• 1Y Price Target: $55.50
• Price Target Upside: 25.14% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 14
• EPS Forecast (FY): -0.64
• Revenue Forecast (FY): $599.61M

• Rating: 49 Neutral
• Price Target: $41.00 ▼(-7.55% Downside)

SL Green Realty's overall stock score reflects a challenging financial and technical landscape, mitigated by positive corporate events. The company's high leverage and declining cash flow are significant concerns, while technical indicators suggest bearish momentum. However, recent strategic investments and improved financial results in Q3 2025 provide some optimism for future performance.

Positive Factors

Revenue Growth

Positive revenue growth indicates a strong demand for SL Green's properties, supporting long-term stability and potential for future expansion.

Leasing Activity

Strong leasing activity in Manhattan enhances occupancy rates and revenue potential, reinforcing SL Green's position in a competitive market.

Strategic Investments

Strategic refinancing and investments in key properties improve financial stability and asset value, supporting long-term growth prospects.

Negative Factors

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting SL Green's ability to navigate economic downturns.

Cash Flow Challenges

Declining cash flow growth suggests difficulties in cash management, which could hinder SL Green's ability to fund operations and investments.

Dividend Policy Change

Changing dividend policy may affect investor sentiment and financial planning, reflecting potential cash flow management issues.

SL Green Realty Business Overview & Revenue Model

Company Description

SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet. This included ownership interests in 28.6 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.

How the Company Makes Money

SL Green Realty generates revenue primarily through leasing office space to tenants, which provides a steady stream of rental income. The company benefits from long-term leases, often with creditworthy tenants, ensuring stability in cash flows. Additionally, SL Green earns revenue through property management fees and ancillary services related to its real estate holdings. The company also engages in property sales and development, which can yield significant profits. Strategic partnerships and joint ventures with other real estate firms further enhance its revenue potential, allowing SL Green to leverage additional expertise and resources in property development and management.

SL Green Realty Financial Statement Overview

Summary

SL Green Realty faces challenges in profitability and leverage, with a negative net profit margin and high debt levels. While revenue shows slight growth, the company's ability to convert this into profit is limited. The balance sheet's high leverage and negative ROE are concerning, although cash flow metrics indicate some operational cash generation. Overall, the financial health is mixed, with significant areas needing improvement.

Income Statement

SL Green Realty's income statement shows a mixed performance. The TTM data indicates a slight revenue growth of 2.98%, but the company is struggling with profitability, as evidenced by a negative net profit margin of -1.29%. The gross profit margin is relatively healthy at 57.53%, suggesting efficient cost management. However, the negative net income highlights challenges in achieving profitability, impacting the overall score.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio of 1.92, indicating significant leverage, which poses potential risks. The return on equity is negative at -0.32%, pointing to inefficiencies in generating returns for shareholders. The equity ratio stands at 35.43%, suggesting moderate reliance on equity financing. Overall, the high leverage and negative ROE are concerning.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by -15.46% in the TTM period, indicating potential liquidity challenges. However, the operating cash flow to net income ratio is positive at 0.13, showing some ability to generate cash from operations. The free cash flow to net income ratio is 1.0, suggesting that the company is generating enough free cash flow to cover its net income, despite the negative net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	671.10M	706.58M	837.20M	861.50M	805.91M	1.03B
Gross Profit	320.88M	252.63M	375.13M	433.06M	440.22M	603.69M
EBITDA	183.38M	169.29M	240.32M	330.89M	340.14M	511.87M
Net Income	25.63M	30.65M	-543.52M	-71.63M	457.06M	379.80M
Balance Sheet
Total Assets	11.14B	10.47B	9.53B	12.36B	11.07B	11.71B
Cash, Cash Equivalents and Short-Term Investments	33.14M	207.11M	231.41M	214.51M	286.17M	294.63M
Total Debt	7.56B	4.52B	4.42B	6.51B	4.97B	5.42B
Total Liabilities	6.74B	5.92B	5.27B	7.26B	5.75B	6.21B
Stockholders Equity	3.97B	3.95B	3.79B	4.76B	4.76B	4.91B
Cash Flow
Free Cash Flow	58.17M	79.20M	229.50M	117.06M	255.98M	554.24M
Operating Cash Flow	58.17M	291.07M	229.50M	417.83M	255.98M	554.24M
Investing Cash Flow	146.00M	-43.43M	171.34M	306.41M	993.58M	1.06B
Financing Cash Flow	-197.89M	-251.52M	-449.38M	-677.17M	-1.29B	-1.48B

SL Green Realty Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 44.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SLG, the sentiment is Negative. The current price of 44.35 is below the 20-day moving average (MA) of 44.76, below the 50-day MA of 48.51, and below the 200-day MA of 54.69, indicating a bearish trend. The MACD of -1.12 indicates Negative momentum. The RSI at 42.70 is Neutral, neither overbought nor oversold. The STOCH value of 74.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SLG.

SL Green Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KRC	71 Outperform	$4.65B	14.37	5.94%	5.61%	0.77%	62.58%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
HIW	65 Neutral	$2.82B	22.22	5.37%	7.84%	-2.10%	-13.30%
CUZ	63 Neutral	$4.22B	72.43	1.26%	5.11%	16.38%	3.60%
BXP	62 Neutral	$12.11B	-54.16	-3.74%	5.26%	2.54%	-155.17%
ELME	52 Neutral	$1.53B	-11.34	-13.43%	4.14%	3.10%	-900.13%
SLG	49 Neutral	$3.38B	-13,439.39	0.61%	6.97%	8.60%	―

SL Green Realty Corporate Events

SL Green Realty Adjusts Dividend Payment Schedule

SL Green Realty has announced a change in its dividend policy, shifting from monthly to quarterly payments starting in fiscal year 2026. This adjustment maintains the cash payment of ordinary dividends, potentially impacting stakeholders’ expectations and the company’s financial planning.

SL Green Realty Amends Partnership for Preferred Units

On October 31, 2025, SL Green Realty Corp. amended its partnership agreement to issue 172,809 Series X Preferred Units as part of acquiring interests in commercial real estate. These units, convertible into common units and potentially redeemable for common stock, offer a 3.00% annual cash distribution and were issued under a securities registration exemption.

SL Green Realty Reports Q3 2025 Financial Gains

In the third quarter of 2025, SL Green Realty Corp. reported a net income of $0.34 per share, a significant improvement from a net loss of $0.21 per share in the same period of 2024. The company also achieved funds from operations (FFO) of $1.58 per share, up from $1.13 per share in 2024, despite incurring transaction costs related to a gaming license pursuit. SL Green signed 52 Manhattan office leases totaling 657,942 square feet in the third quarter, with a slight decrease in mark-to-market rent values. The company also entered into significant investment activities, including a contract to purchase Park Avenue Tower for $730 million and the sale of a 5% interest in One Vanderbilt Avenue, generating $86.6 million in proceeds. Additionally, SL Green completed a $1.4 billion refinancing of 11 Madison Avenue and recorded a net gain of $57.2 million from debt extinguishment at 1552-1560 Broadway.