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Sl Green Realty Corp. (SLG)
NYSE:SLG
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SL Green Realty (SLG) AI Stock Analysis

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SLG

SL Green Realty

(NYSE:SLG)

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Neutral 61 (OpenAI - 5.2)
Rating:61Neutral
Price Target:
$53.00
â–¼(-2.95% Downside)
Action:Reiterated
Date:07/23/26
The score is driven by strong forward-looking operating momentum from the earnings call (large recurring FFO guidance raise, improving occupancy and leasing) and supportive technical trends. These positives are tempered by weaker financial fundamentals—ongoing net losses, earnings volatility, and elevated leverage—while valuation is mixed (attractive yield but negative P/E due to losses).
Positive Factors
Improving cash generation
Sustained positive operating cash flow and materially higher free cash flow provide durable internal funding for debt paydown, capex, and distributions. Strong FCF growth increases flexibility to execute capital recycling and opportunistic investments without relying solely on volatile capital markets.
Negative Factors
Elevated leverage and large absolute debt
High net leverage and a multi-billion-dollar debt load constrain strategic optionality and increase refinancing sensitivity. Even with hedges, elevated absolute debt amplifies interest-cost risk, limits capacity for opportunistic M&A or redevelopment, and raises refinancing execution risk as large maturities approach.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation
Sustained positive operating cash flow and materially higher free cash flow provide durable internal funding for debt paydown, capex, and distributions. Strong FCF growth increases flexibility to execute capital recycling and opportunistic investments without relying solely on volatile capital markets.
Read all positive factors

SL Green Realty (SLG) vs. SPDR S&P 500 ETF (SPY)

SL Green Realty Business Overview & Revenue Model

Company Description
SL Green Realty Corp., an S&P 500 listed company, is recognized as Manhattan's premier office landlord. Operating as a fully integrated Real Estate Investment Trust (REIT), its core strategy involves the acquisition, management, and value maximiza...
How the Company Makes Money
SL Green primarily makes money through recurring real estate operating income generated by its Manhattan office portfolio. Its main revenue stream is rental revenue from leasing office space to tenants under multi-year lease agreements; this inclu...

SL Green Realty Earnings Call Summary

Earnings Call Date:Jul 22, 2026
(Q2-2026)
|
% Change Since: |
Next Earnings Date:Oct 21, 2026
Earnings Call Sentiment Positive
The call conveyed strong, company-driven operational momentum: a sizable upward FFO guidance revision (>$1.20/sh, >26%), improved economic occupancy (+300 bps), robust leasing pipeline and mark-to-market rent upside, and tight balance sheet/hedging actions. These positives outweigh the remaining execution and market risks (legacy asset recapitalizations, rate environment and some active litigation). Management highlighted recurring, sustainable sources of FFO growth (notably 1 Vanderbilt) and active capital allocation (sales, development partnerships, buybacks).
Positive Updates
Material Upward FFO Guidance Revision
Company raised FFO guidance by $1.20 per share (more than 26% increase). Management states the vast majority of the increase is recurring and breaks it down as $0.20 from operational execution, $0.20 from fee/other income, and $0.80 from 1 Vanderbilt accounting and cash flow treatment.
Negative Updates
Remaining Asset-Level Challenges in Alternative/Legacy Portfolio
Several assets (e.g., 2 Herald Square, 440 Worldwide Plaza, 650 Fifth) require recapitalization and currently contribute little to earnings or NAV; management described these as capitalization challenges with uncertain resolution timelines.
Read all updates
Q2-2026 Updates
Negative
Material Upward FFO Guidance Revision
Company raised FFO guidance by $1.20 per share (more than 26% increase). Management states the vast majority of the increase is recurring and breaks it down as $0.20 from operational execution, $0.20 from fee/other income, and $0.80 from 1 Vanderbilt accounting and cash flow treatment.
Read all positive updates
Company Guidance
SL Green raised 2026 FFO guidance by $1.20 per share (more than 26%), saying the bulk is recurring and is comprised of $0.20 per share of operational uplift from the Manhattan office portfolio (10% of which, or $0.10, was recognized in Q2), an expected $0.20 per share of additional fee and other income for 2026, and $0.80 per share of recurring contribution from 1 Vanderbilt (with $0.35 recorded in Q2); the 1 Vanderbilt treatment includes amortization of a negative carrying value of roughly $21 million annually through early 2031 plus excess cash distributions over GAAP net income and is expected to contribute as much or more in 2027. Management pointed to a ~300 basis‑point step‑up in economic occupancy this quarter, a leasing pipeline of ~900k sq ft (≈50% new / 50% renewal, ~400k in advanced negotiation), about 50 million sq ft of NYC office leased over the past four quarters, and a goal to move occupancy toward ~95%; broader market tailwinds cited include Wall Street Q1 profits of $21B, big‑5 bank Q2 profits +50% YoY, NYC office‑using jobs +12k YTD, healthcare +20k YTD, and Q2 VC funding of $10.8B ($21.1B YTD, both roughly double 2025).

SL Green Realty Financial Statement Overview

Summary
Revenue and gross margin improved materially and cash generation is solid (TTM operating cash flow $272M; free cash flow $107M, up strongly). Offsetting this, profitability remains weak with a TTM net loss (-$152M) and multi-year earnings volatility, while leverage is elevated (TTM debt-to-equity ~1.75x; ~$6.5B debt), which increases risk in a higher-rate environment.
Income Statement
46
Neutral
Balance Sheet
44
Neutral
Cash Flow
58
Neutral
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.04B1.00B706.58M837.20M861.50M805.91M
Gross Profit530.86M341.79M252.63M375.13M433.06M440.22M
EBITDA492.41M414.19M169.29M240.32M330.89M340.14M
Net Income-172.85M-88.28M30.65M-543.52M-71.63M457.06M
Balance Sheet
Total Assets11.81B11.08B10.47B9.53B12.36B11.07B
Cash, Cash Equivalents and Short-Term Investments202.06M336.50M207.11M231.41M214.51M286.17M
Total Debt5.17B7.97B4.52B4.42B6.51B4.97B
Total Liabilities7.39B6.73B5.92B5.27B7.26B5.75B
Stockholders Equity3.42B3.87B3.95B3.79B4.76B4.76B
Cash Flow
Free Cash Flow78.12M82.91M79.20M229.50M117.06M255.98M
Operating Cash Flow181.73M82.91M291.07M229.50M417.83M255.98M
Investing Cash Flow-1.12B-330.80M-43.43M171.34M306.41M993.58M
Financing Cash Flow930.01M252.75M-251.52M-449.38M-677.17M-1.29B

SL Green Realty Technical Analysis

Technical Analysis Sentiment
Positive
Last Price54.61
Price Trends
50DMA
49.86
Positive
100DMA
44.87
Positive
200DMA
44.42
Positive
Market Momentum
MACD
1.40
Negative
RSI
66.08
Neutral
STOCH
73.83
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 54.61 is above the 20-day moving average (MA) of 51.74, above the 50-day MA of 49.86, and above the 200-day MA of 44.42, indicating a bullish trend. The MACD of 1.40 indicates Negative momentum. The RSI at 66.08 is Neutral, neither overbought nor oversold. The STOCH value of 73.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SLG.

SL Green Realty Risk Analysis

SL Green Realty disclosed 37 risk factors in its most recent earnings report. SL Green Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

SL Green Realty Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
67
Neutral
$3.65B21.803.09%5.94%3.30%28.46%
65
Neutral
$2.17B12.193.79%4.94%3.15%1.96%
63
Neutral
$5.19B767.64-0.43%3.98%11.89%-89.22%
62
Neutral
$12.28B37.506.17%4.05%1.88%7630.99%
62
Neutral
$4.56B26.963.14%5.48%-3.76%-22.82%
61
Neutral
$4.04B-20.68-4.61%4.62%7.51%-386.65%
44
Neutral
$143.06M-0.92-40.59%7.41%3.10%-900.13%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SLG
SL Green Realty
54.83
2.02
3.83%
BXP
BXP
70.01
6.81
10.77%
CUZ
Cousins Properties
30.76
5.07
19.74%
HIW
Highwoods Properties
32.42
5.51
20.48%
KRC
Kilroy Realty
38.65
2.72
7.57%
ELME
Elme Communities
1.64
-0.83
-33.52%

SL Green Realty Corporate Events

Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
SL Green Realty posts wider loss, raises 2026 guidance
Positive
Jul 23, 2026
SL Green Realty reported a larger net loss for the quarter and six months ended June 30, 2026, with diluted EPS of ($0.38) in the second quarter versus ($0.16) a year earlier, while funds from operations came in at $1.43 per share, below the prior...
Executive/Board ChangesShareholder Meetings
SL Green Realty Shareholders Back Directors and Governance Proposals
Positive
Jun 2, 2026
SL Green Realty Corp. held its Annual Meeting of Stockholders on June 2, 2026, where shareholders voted on board elections, executive pay, and auditor ratification. Approximately 85.3% of eligible shares were represented, underscoring solid invest...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 23, 2026