SL Green Realty (SLG) AI Stock Analysis

• Market Cap: $4.28B
• Dividend Yield: 5.12%
• Average Volume (3M): 846.61K
• Price to Earnings (P/E): 663.1
• Beta (1Y): 1.41
• Revenue Growth: 15.25%
• EPS Growth: 79.18%
• Country: US
• Employees: 1,221
• Sector: Real Estate
• Sector Strength: 48
• Industry: REIT - Office
• EPS (TTM): -0.16
• Shares Outstanding: 71,022,140
• 10 Day Avg. Volume: 780,682
• 30 Day Avg. Volume: 846,611
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 2.55
• Enterprise Value/Revenue: 11.67
• Enterprise Value/Gross Profit: 23.56
• Enterprise Value/Ebitda: 26.41
• 1Y Price Target: $64.86
• Price Target Upside: 8.32% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 14

• Rating: 61 Neutral
• Price Target: $62.00 ▲(3.54% Upside)

SL Green Realty's overall score reflects moderate financial performance with profitability challenges, offset by strong earnings call highlights. Technical indicators suggest potential short-term weakness, while valuation is pressured by a negative P/E ratio despite a strong dividend yield.

Positive Factors

Earnings and Guidance

SLG raised FY’25 FFO guidance to $5.65-$5.95, up $0.40 at the midpoint, which reflects incremental income from 522 Fifth offset by reserves on 625 Madison & incremental interest expense.

Leasing Activity

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

Operational Performance

SLG's shares are up +15.8% after it provided an operational update at REITWeek that defied negative market perceptions.

Negative Factors

Financial Leverage

A potentially weakening economy is already negatively impacting stock valuation, within the office sector, steadier portfolios with lower capex burdens and balance sheets with lower financial leverage are generally preferred.

Market Sentiment

There is a sentiment overhang following Zohran Mamdani’s win in the NYC Mayoral Primary, affecting NYC Office REITs.

Occupancy Rates

The SS Manhattan leased rate dipped 40bps to 91.4%, while signed leases totaled 542KSF vs. 602KSF in Q1.

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 rental income from its extensive portfolio of office properties. The company leases space to a diverse range of tenants, including large corporations, small businesses, and government entities, which provides a stable and recurring revenue stream. Additionally, SLG earns income from property management fees, development and redevelopment projects, and strategic partnerships that enhance its asset value. The company may also realize gains through the sale of properties or through joint ventures with other real estate firms, contributing to its overall profitability. Key partnerships and a strong position in the Manhattan real estate market further bolster its financial performance.

SL Green Realty Financial Statement Overview

Summary

SL Green Realty shows moderate revenue growth and positive operating cash flow, but challenges with profitability and a moderate level of debt. Improvements in converting income to cash flow are needed.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	886.27M	913.71M	826.74M	861.31M	1.05B
Gross Profit	431.60M	435.55M	395.65M	495.62M	664.19M
EBITDA	409.61M	-206.38M	327.93M	311.92M	839.86M
Net Income	30.65M	-557.30M	-71.63M	457.06M	379.80M
Balance Sheet
Total Assets	10.47B	9.53B	12.36B	11.07B	11.71B
Cash, Cash Equivalents and Short-Term Investments	207.11M	231.41M	214.51M	286.17M	294.63M
Total Debt	4.52B	4.42B	6.51B	4.97B	5.42B
Total Liabilities	5.92B	5.27B	7.26B	5.75B	6.21B
Stockholders Equity	3.95B	3.79B	4.76B	4.96B	4.91B
Cash Flow
Free Cash Flow	129.59M	229.50M	276.09M	255.98M	554.24M
Operating Cash Flow	129.59M	229.50M	276.09M	255.98M	554.24M
Investing Cash Flow	118.75M	171.34M	425.81M	993.58M	1.06B
Financing Cash Flow	-252.23M	-449.38M	-654.82M	-1.29B	-1.48B

SL Green Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 59.88
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 59.88 is above the 20-day moving average (MA) of 55.36, above the 50-day MA of 58.01, and below the 200-day MA of 60.41, indicating a neutral trend. The MACD of 0.21 indicates Negative momentum. The RSI at 63.60 is Neutral, neither overbought nor oversold. The STOCH value of 81.96 is Negative, 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	74 Outperform	$4.89B	22.24	4.06%	5.27%	2.26%	10.15%
PGRE	70 Neutral	$1.73B	―	-2.52%	0.56%	-1.68%	63.27%
CUZ	69 Neutral	$4.89B	78.82	1.30%	4.39%	13.07%	-4.94%
HIW	68 Neutral	$3.38B	26.70	5.39%	6.43%	-2.16%	-16.41%
DEI	63 Neutral	$3.29B	74.82	1.74%	4.71%	-0.57%	―
SLG	61 Neutral	$4.28B	663.10	-0.37%	5.12%	15.25%	79.18%
Sector *	53 Neutral	$1.21B	3.09	-6.08%	5.85%	-7.32%	-78.37%

SL Green Realty Corporate Events

SL Green Realty Extends Chief Legal Officer’s Term

On August 13, 2025, SL Green Realty Corp. announced the extension of Andrew S. Levine’s term as Chief Legal Officer and General Counsel for an additional three years, effective January 1, 2025, through January 1, 2028. The agreement includes a base salary of $600,000 per year, potential bonuses, and time-based awards, with provisions for severance benefits and restrictive covenants in case of termination. This extension reflects the company’s commitment to maintaining stability in its leadership team, which could positively impact its strategic operations and reassure stakeholders of its continued focus on legal and corporate governance.

SL Green Realty Reports Q2 2025 Financial Results

SL Green Realty Corp. reported a net loss of $0.16 per share for the second quarter of 2025, a decline from the $0.04 per share loss in the same period of 2024. Despite the loss, the company recorded funds from operations (FFO) of $1.63 per share, down from $2.05 in 2024, and increased its 2025 earnings guidance due to income from its debt and preferred equity portfolio. The company signed significant office leases in Manhattan and reported a slight decrease in same-store cash net operating income for the quarter. Key investment activities included the repayment of a commercial mortgage investment and the sale of a property, generating substantial proceeds. The company also engaged in strategic acquisitions and sales, impacting its financial positioning and operations.

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.