NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that it has signed a 924,876 square foot renewal and expansion lease with Bloomberg, L.P. at 919 Third Avenue. The transaction includes a 749,035-square-foot, 11-year lease extension commencing March 1, 2029, covering floors 2-18 and 28-33. In addition, Bloomberg will expand its footprint within the building by 175,841 square feet with a new 15-year lease covering a portion of ...

SL Green (SLG) boasts a portfolio of high-quality and amenitized office properties in New York City to cater to the rising demand for premier office spaces. Its long-term leases with a diverse tenant base and focus on an opportunistic investment policy to enhance its portfolio quality are encouraging. However, the elevated supply of office properties in its markets and the geographic concentration of assets remain a concern. Analysts seem bullish on this office REIT carrying a Zacks Rank #2 (Buy), with the ...

The upcoming report from SL Green (SLG) is expected to reveal quarterly earnings of $1.20 per share, indicating a decline of 5.5% compared to the year-ago period. Analysts forecast revenues of $135.76 million, representing an increase of 3.2% year over year. The consensus EPS estimate for the quarter has undergone a downward revision of 0.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timefr ...

SL Green Realty Corp. (SLG) has a portfolio of high-quality and well-amenitized office properties in New York City, which positions it well for growth. This New York-based office real estate investment trust (REIT) primarily acquires, manages, develops and leases commercial (mainly office) and residential real estate properties. It has been witnessing healthy demand for its properties amid the growing need for premier office spaces. Shares of this currently Zacks Rank #2 (Buy) company have rallied 25.8% ove ...

SL Green (SLG) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a changing earnings pict ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

Core Viewpoint - The article presents a buy recommendation for SL Green (NYSE: SLG), highlighting that the stock remains undervalued based on net asset value and historical Price/FFO metrics despite a strong performance year to date [1]. Group 1: Investment Strategy - The investment strategy focuses on identifying companies with high potential for substantial revenue and earnings growth that are not fully reflected in current market prices [1]. - The investor prefers to avoid positions in GAAP unprofitable stocks, and if such positions are taken, they are kept small [1]. - There is a preference for investing in less cyclical and higher growth sectors, with a geographical bias towards the United States [1]. Group 2: Personal Insights - Writing is viewed as a method to clarify thoughts and maintain rigor in the research process, as well as to hold oneself accountable [1]. - The investor encourages all active investors to engage in writing as a beneficial exercise, regardless of whether the writings are intended for publication [1]. - Seeking Alpha is recognized as a valuable resource with a vibrant community, and contributing to it is seen as a natural progression for the investor [1].

Shares of SL Green Realty (SLG) have risen 38.5% in the past six months compared with the industry's upside of 17.5%. Last July, SLG reported a second-quarter 2024 FFO per share of $2.05, which outpaced the Zacks Consensus Estimate of $1.62. Results reflected decent leasing activity in its Manhattan portfolio. SL Green also raised its guidance for 2024 FFO per share. Analysts seem bullish on this Zacks Rank #3 (Hold) company, with the Zacks Consensus Estimate for its 2024 FFO per share revised upward margin ...

NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that it will release its earnings for the third quarter of 2024 on Wednesday, October 16, 2024 after market close. The Company's executive management team, led by Marc Holliday, Chairman and Chief Executive Officer, will host a conference call and audio webcast on Thursday, October 17, 2024 at 2:00pm ET to discuss the financial results. Simultaneous with the earnings release, ...

Core Insights - SL Green Realty Corp. has successfully modified and extended the mortgage on 220 East 42nd Street, reducing the principal balance by $9.0 million to $496.4 million and extending the maturity date to December 2027 [1][2]. Company Overview - SL Green Realty Corp. is Manhattan's largest office landlord and operates as a fully integrated real estate investment trust (REIT), focusing on acquiring, managing, and maximizing the value of Manhattan commercial properties [6]. - As of June 30, 2024, the company held interests in 55 buildings totaling 31.8 million square feet, including 28.1 million square feet of Manhattan buildings [6]. Mortgage Details - The interest rate on the modified mortgage remains at 2.75% over term SOFR, which has been fixed at 6.77% through the maturity date [2]. - The building, known as The Daily News Building, is currently 91% occupied with notable tenants such as Visiting Nurse Services, Omnicom Group, United Nations Development Program, and WPIX [4]. Market Position - The extension of the mortgage highlights the strong relationships SL Green has with lenders and reflects the confidence in Manhattan's office properties [3].