SL Green Realty (SLG) AI Stock Analysis

• Market Cap: $4.75B
• Dividend Yield: 4.95%
• Average Volume (3M): 997.18K
• Price to Earnings (P/E): 663.1
• Beta (1Y): 1.55
• Revenue Growth: 14.28%
• EPS Growth: 94.75%
• Country: US
• Employees: 1,221
• Sector: Real Estate
• Sector Strength: 59
• Industry: REIT - Office
• EPS (TTM): -0.30
• Shares Outstanding: 71,016,820
• 10 Day Avg. Volume: 1,298,347
• 30 Day Avg. Volume: 997,182
• PEG Ratio: 4.48
• Price to Book (P/B): 1.14
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 28.94
• Enterprise Value/Market Cap: 1.95
• Enterprise Value/Revenue: 2.54
• Enterprise Value/Gross Profit: 21.15
• Enterprise Value/Ebitda: 9.03
• 1Y Price Target: $65.80
• Price Target Upside: 5.41% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10

• Rating: 63 Neutral
• Price Target: $66.00 ▲(5.74%Upside)

SL Green Realty's stock score reflects moderate financial performance and valuation challenges, counterbalanced by strong earnings call results and positive technical indicators. While profitability is a concern, operational strengths and strategic initiatives offer potential upside.

Positive Factors

Financial Performance

SL Green Realty delivered better-than-expected results in 2024 and achieved several key objectives which keeps the company on offense in 2025.

Leasing Activity

SLG's leasing activity has accelerated, and the pipeline has grown, which contradicts investor perceptions.

Market Position

With minimal new office supply in Manhattan over the next six years, SLG's properties are in a favorable position.

Negative Factors

Economic Outlook

A potentially weakening economy is already negatively impacting stock valuation.

Financial Estimates

Lowering 2026 normalized FFO estimate, largely due to higher projected interest expense and adjustments to more accurately reflect consolidation of 100 Park Avenue.

Short-term Costs

In the short-term, leasing is expensive and a drag on adjusted funds from operations.

SL Green Realty Business Overview & Revenue Model

Company Description

SL Green Realty Corp. (SLG) is a leading real estate investment trust (REIT) focused on acquiring, managing, and maximizing value from commercial properties, primarily in Manhattan, New York City. Established in 1997, SL Green specializes in owning, leasing, and managing premier office spaces, making it one of the largest office landlords in Manhattan. The company is involved in property management, leasing, property development, and real estate investments, catering primarily to corporate clients seeking prime office locations.

How the Company Makes Money

SL Green Realty Corp. generates revenue primarily through rental income from its portfolio of commercial office properties. The company's primary revenue stream comes from leasing office spaces to a diverse range of tenants, including large corporations, financial institutions, and other businesses. Additionally, SL Green engages in property development and strategic property acquisitions to enhance its portfolio's value. The company also benefits from ancillary income streams such as parking and retail space leasing within its properties. Key factors contributing to its earnings include high occupancy rates, strategic property locations in desirable markets, and effective property management practices. SL Green may also engage in joint ventures or partnerships to optimize resource allocation and maximize returns on investment in its real estate assets.

SL Green Realty Financial Statement Overview

Summary

SL Green Realty shows moderate revenue growth with challenges in profitability due to a negative net income. The balance sheet indicates moderate debt levels, necessitating prudent liability management. Positive operating cash flow suggests acceptable liquidity, but improving cash conversion from profits is necessary.

Income Statement

The revenue has shown slight growth with a TTM increase of approximately 5.8% from the previous year. However, the company faced challenges with profitability, as indicated by a negative net income in the most recent TTM and EBIT margin of 34.05%. Historical volatility in net income suggests potential risks in maintaining consistent profitability.

Balance Sheet

The debt-to-equity ratio is moderate, indicating a balanced approach towards leveraging. However, the equity ratio of 38.9% suggests a moderate level of reliance on liabilities. The company must manage its liabilities prudently to maintain financial stability.

Cash Flow

The company showed a positive operating cash flow in TTM, although free cash flow was flat compared to the previous period. The cash flow to net income ratios indicate potential areas for improvement in translating profits into cash flows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	938.24M	886.27M	913.71M	826.74M	861.31M	1.05B
Gross Profit	437.60M	431.60M	435.55M	395.65M	495.62M	664.19M
EBITDA	381.76M	468.41M	-206.38M	327.93M	311.92M	839.86M
Net Income	-3.31M	30.65M	-557.30M	-71.63M	457.06M	379.80M
Balance Sheet
Total Assets	11.41B	10.47B	9.53B	12.36B	11.07B	11.71B
Cash, Cash Equivalents and Short-Term Investments	192.43M	207.11M	231.41M	214.51M	286.17M	294.63M
Total Debt	4.78B	4.52B	4.42B	6.51B	4.97B	5.42B
Total Liabilities	6.97B	5.92B	5.27B	7.26B	5.75B	6.21B
Stockholders Equity	3.84B	3.95B	3.79B	4.76B	4.96B	4.91B
Cash Flow
Free Cash Flow	160.98M	129.59M	229.50M	276.09M	255.98M	554.24M
Operating Cash Flow	160.98M	129.59M	229.50M	276.09M	255.98M	554.24M
Investing Cash Flow	-53.81M	118.75M	171.34M	425.81M	993.58M	1.06B
Financing Cash Flow	-263.60M	-252.23M	-449.38M	-654.82M	-1.29B	-1.48B

SL Green Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 62.42
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SLG, the sentiment is Positive. The current price of 62.42 is below the 20-day moving average (MA) of 63.05, above the 50-day MA of 58.54, and below the 200-day MA of 63.70, indicating a neutral trend. The MACD of 0.81 indicates Positive momentum. The RSI at 54.26 is Neutral, neither overbought nor oversold. The STOCH value of 57.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SLG.

SL Green Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KRC	72 Outperform	$8.23B	20.72	3.69%	6.21%	1.11%	-3.07%
PGRE	70 Outperform	$1.44B	―	-2.11%	2.32%	1.67%	73.75%
CUZ	66 Neutral	$5.01B	89.07	1.15%	4.29%	10.93%	-31.07%
HIW	66 Neutral	$3.37B	19.56	7.21%	6.40%	-2.01%	31.64%
DEI	65 Neutral	$3.13B	48.75	2.49%	5.05%	-1.98%	―
Sector *	63 Neutral	$6.96B	19.11	-1.16%	6.97%	4.71%	-24.99%
SLG	63 Neutral	$4.75B	663.10	-0.13%	4.95%	14.28%	94.75%

SL Green Realty Corporate Events

SL Green Realty Amends CEO Compensation Agreement

On June 24, 2025, SL Green Realty Corp. amended the employment agreement with Marc Holliday to better align his compensation structure with performance metrics and clarify terms related to the property at 1515 Broadway. The amendment also removed formulaic cash payments for changes in control, indicating that a reduction in compensation post-change would be considered ‘good reason’ for contract termination.

The most recent analyst rating on (SLG) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on SL Green Realty stock, see the SLG Stock Forecast page.

SL Green Realty Holds Annual Stockholders Meeting

SL Green Realty Corp. held its Annual Meeting of Stockholders on June 3, 2025, where several key decisions were made. The meeting resulted in the election of eight directors, approval of executive compensation, ratification of Deloitte & Touche LLP as the independent accounting firm, and approval of the Sixth Amended and Restated 2005 Stock Option and Incentive Plan, with significant shareholder support for each proposal.

The most recent analyst rating on (SLG) stock is a Hold with a $80.00 price target. To see the full list of analyst forecasts on SL Green Realty stock, see the SLG Stock Forecast page.

SL Green Realty Reports Q1 2025 Financial Results

SL Green Realty Corp. reported a net loss of $0.30 per share for the first quarter of 2025, contrasting with a net income of $0.20 per share in the same period of 2024. The company’s funds from operations (FFO) also declined to $1.40 per share from $3.07 per share in the previous year, due to lower gains on debt extinguishment and negative adjustments on derivatives. Despite these financial challenges, SL Green signed 45 Manhattan office leases covering over 600,000 square feet and maintained a same-store office occupancy of 91.8% as of March 31, 2025. The company also completed significant investment activities, including the acquisition of 500 Park Avenue and the sale of 85 Fifth Avenue, while its special servicing business managed $4.8 billion in active assignments.