Core Viewpoint - SL Green Realty Corp. is well-positioned for growth due to its high-quality office properties in New York City and healthy demand for premier office spaces [1] Group 1: Company Performance - SL Green's shares have increased by 31.3% over the past six months, outperforming the industry growth of 9.3%, indicating strong fundamentals and potential for further growth [2] - The company signed 42 office leases in Manhattan during Q3 2024, totaling 763,755 square feet, despite challenges in the U.S. office real estate sector due to remote working trends [4] - Total office leases signed from the beginning of 2024 through December 9, 2024, reached 3.5 million square feet, with a pipeline of over 900,000 square feet, positioning the company favorably for future leasing [6] Group 2: Tenant and Investment Strategy - SL Green benefits from a diversified tenant base, reducing risks associated with reliance on single-industry tenants, and has long-term leases with tenants of strong credit profiles, ensuring stable rental revenues [7] - The company follows an opportunistic investment policy, divesting mature and non-core assets to improve portfolio quality and fund development projects and share buybacks [8][9] Group 3: Financial Outlook - Analysts are optimistic about SL Green's funds from operations (FFO) per share growth, with the Zacks Consensus Estimate for 2024 FFO revised upward by 1.8% to $7.79 [11] - The company raised its 2024 FFO per share guidance to a range of $7.65-$7.95, up from the previous guidance of $7.45-$7.75, and provided a 2025 FFO per share guidance of $5.25-$5.55 [12] Group 4: Recent Transactions - In Q3 2024, SL Green sold the Palisades Premier Conference Center for $26.3 million, receiving net proceeds of $19.8 million, and completed the sellout of the Giorgio Armani Residences for a gross consideration of $168.2 million, with sales expected to conclude in Q4 2024 [10] - The large-scale suburban asset sales have allowed SL Green to focus on the Manhattan market and retain premium growth assets [11]

NEW YORK, Dec. 05, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that a Canadian institutional investor has committed to anchor the SLG Opportunistic Debt Fund with a $250.0 million commitment. The investor has been ranked among the world’s largest institutional investors that manages public and parapublic pension plans and insurance programs. “A world class investor and the ideal anchor has been secured for the SLG Opportunistic Debt Fund,” ...

SL Green Realty Corp. (SLG) , Manhattan’s largest office landlord, has reinforced its dominance in New York City’s premium office market by entering into a contract to acquire 500 Park Avenue for $130 million. This iconic 11-story Class A office building, designed by Skidmore, Owings & Merrill (SOM), is a strategic addition to SL Green’s portfolio in the highly coveted Park Avenue corridor.Located at the corner of 59th Street and Park Avenue, 500 Park Avenue is steeped in history, originally serving as Peps ...

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NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (the “Company”) (NYSE: SLG) announced today that it priced an underwritten public offering of 5,063,291 shares of its common stock, par value $0.01 per share (the “Common Stock”), at a price to the public of $79.00 per share. In connection with the offering, the Company has granted the underwriters an option to purchase up to an additional 759,493 shares of Common Stock during the next 30 days. The offering is expected to close on November 25 ...

NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (the “Company”) (NYSE: SLG) announced today the commencement of an underwritten public offering of $400,000,000.00 of shares of its common stock, par value $0.01 per share (the “Common Stock”). In connection with the offering, the Company intends to grant the underwriters an option for 30 days to purchase up to an additional $60,000,000.00 of shares of Common Stock. The Company intends to use net proceeds from the offering for general corpora ...

SL Green Realty (SLG) recently announced closing on a modification and extension for the $742.8 million mortgage on 54-story office tower, 1515 Broadway. As a result, the maturity date has been extended by three years to March 2028, while the interest rate remains unchanged at 3.93%.This strategic move enhances SL Green’s debt maturity profile. It offers SL Green and its partners the essential time and flexibility required to pursue projects like Caesars Palace Times Square. This project will bring the worl ...

NEW YORK, Nov. 20, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that it has closed on a modification and extension of the $742.8 million mortgage on 1515 Broadway. The modification extended the maturity date by three years, as fully extended, to March 2028 and the interest rate was maintained at 3.93%. “This is another successful step in executing our plan to extend our debt maturity profile and reflects the strength of the Midtown Manhatta ...

Shares of SL Green Realty (SLG) have risen 23.6% in the past three months compared with the industry's upside of 0.8%.Last month, this New York-based office real estate investment trust (REIT) reported a third-quarter 2024 FFO per share of $1.13, which missed the Zacks Consensus Estimate of $1.21. Results reflected decent leasing activity in its Manhattan portfolio and higher rental revenues.Analysts seem bullish on this Zacks Rank #3 (Hold) company, with the Zacks Consensus Estimate for its fourth-quarter ...

NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, today announced that it has signed a 72,515 square foot, 10-year lease with leading hedge fund Verition Group NY, Inc., raising occupancy in the building to 92.5%. Verition will expand its footprint in the building by 34,413 square feet, relocating from the 35th floor to the entire 14th and 15th floors. This transaction increases SL Green's office leases signed year to date to 3,002,971 square ...