SL Green Looks Cheap, but Mamdani's Tax Plan Is a Risk

Core Viewpoint - SL Green Realty's shares have significantly declined this year due to weaker earnings and a shift in its dividend policy, making the stock appear undervalued, but the 7.8% dividend yield carries associated risks [1] Company Summary - SL Green Realty is primarily focused on office properties in Manhattan, and its stock has seen a notable drop in value this year [1] - The company has adjusted its dividend policy, which has contributed to investor concerns regarding its financial stability [1] Financial Performance - The decline in SL Green's share price is attributed to weaker earnings reported this year, indicating potential challenges in its operational performance [1] - The current dividend yield stands at 7.8%, which may attract investors looking for income but also reflects underlying risks associated with the company's financial health [1]