SL Green Realty (SLG) AI Stock Analysis

• Market Cap: $4.58B
• Dividend Yield: 5.07%
• Average Volume (3M): 1.13M
• Price to Earnings (P/E): 663.1
• Beta (1Y): 1.47
• Revenue Growth: 14.21%
• EPS Growth: 79.46%
• Country: US
• Employees: 1,221
• Sector: Real Estate
• Sector Strength: 61
• Industry: REIT - Office
• EPS (TTM): -0.16
• Shares Outstanding: 71,016,820
• 10 Day Avg. Volume: 1,318,619
• 30 Day Avg. Volume: 1,126,135
• PEG Ratio: 11.72
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 51.72
• Enterprise Value/Market Cap: 2.20
• Enterprise Value/Revenue: 1.45
• Enterprise Value/Gross Profit: 9.47
• Enterprise Value/Ebitda: 3.08
• 1Y Price Target: $64.23
• Price Target Upside: 8.20% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 13

• Rating: 58 Neutral
• Price Target: $63.00 ▲(6.13%Upside)

The overall score reflects challenges in financial performance with moderate revenue growth but profitability issues. Positive aspects include strong earnings guidance and leasing activity, while technical indicators and valuation present concerns.

Positive Factors

Debt Management

Net Debt/EBITDA improved to ~9x from ~10x, with total debt reduced by $114MM quarter-over-quarter.

Financial Performance

SLG raised FY'25 FFO guidance to $5.65-$5.95, up $0.40 at the midpoint, reflecting incremental income from 522 Fifth.

Market Perception

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

Negative Factors

Economic Outlook

A potentially weakening economy is already negatively impacting stock valuation.

Interest Expense

Lowering 2026 normalized FFO estimate due to higher projected interest expense and adjustments related to 100 Park Avenue.

Operating Results

'Clean' FFO came in below expectations, with operating results slipping sequentially due to a lower leased rate and weaker economics.

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 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 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: Negative
• Last Price: 59.36
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 59.36 is below the 20-day moving average (MA) of 61.70, below the 50-day MA of 60.82, and below the 200-day MA of 63.25, indicating a bearish trend. The MACD of -0.26 indicates Positive momentum. The RSI at 41.98 is Neutral, neither overbought nor oversold. The STOCH value of 10.49 is Positive, 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	75 Outperform	$8.81B	22.53	3.69%	5.80%	1.11%	-3.07%
PGRE	70 Outperform	$1.55B	―	-2.11%	0.54%	1.67%	73.75%
HIW	66 Neutral	$3.32B	19.30	7.21%	6.62%	-2.01%	31.64%
DEI	65 Neutral	$3.22B	50.21	2.49%	4.79%	-1.98%	―
Sector *	64 Neutral	$6.89B	17.45	-1.92%	7.02%	4.59%	-24.66%
CUZ	63 Neutral	$4.77B	84.77	1.15%	4.51%	10.93%	-31.07%
SLG	58 Neutral	$4.58B	663.10	-0.35%	5.07%	14.21%	79.46%

SL Green Realty Corporate Events

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.

The most recent analyst rating on (SLG) stock is a Hold with a $69.00 price target. To see the full list of analyst forecasts on SL Green Realty stock, see the SLG Stock Forecast page.

SL Green Realty 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.