For the quarter ended September 2024, SL Green (SLG) reported revenue of $139.62 million, up 6.2% over the same period last year. EPS came in at $1.13, compared to -$0.38 in the year-ago quarter. The reported revenue represents a surprise of +2.17% over the Zacks Consensus Estimate of $136.66 million. With the consensus EPS estimate being $1.21, the EPS surprise was -6.61%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Group 1 - SL Green reported quarterly funds from operations (FFO) of $1.13 per share, missing the Zacks Consensus Estimate of $1.21 per share, and down from $1.27 per share a year ago, representing an FFO surprise of -6.61% [1] - The company posted revenues of $139.62 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.17%, compared to year-ago revenues of $131.52 million [2] - SL Green shares have increased approximately 58.8% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3] Group 2 - The current consensus FFO estimate for the coming quarter is $1.28 on revenues of $137.55 million, and for the current fiscal year, it is $7.62 on revenues of $538.1 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 38% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] Group 3 - Ahead of the earnings release, the estimate revisions trend for SL Green was favorable, resulting in a Zacks Rank 1 (Strong Buy) for the stock, suggesting expected outperformance in the near future [6]

Financial and Operating Highlights Net loss attributable to common stockholders of $0.21 per share for the third quarter of 2024 as compared to net loss of $0.38 per share for the same period in 2023. Funds from operations ("FFO") of $1.13 per share for the third quarter of 2024, which was reduced by $9.0 million, or $0.13 per share, of non-recurring, non-cash fair value adjustments on mark-to-market derivatives. The Company reported FFO of $1.27 per share for the same period in 2023. Signed 42 Manhattan of ...

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].