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SL Green Realty Corp. - SLG STOCK NEWS

Welcome to our dedicated page for SL Green Realty news (Ticker: SLG), a resource for investors and traders seeking the latest updates and insights on SL Green Realty stock.

SL Green Realty Corp. (symbol: SLG) is a leading real estate investment trust (REIT) and the largest office landlord in New York City. As of December 31, 2023, the company holds interests in 58 buildings, totaling 32.5 million square feet of premier Manhattan office space. This includes 28.8 million square feet in wholly-owned properties and 2.8 million square feet securing debt and preferred equity investments.

Founded with a focus on acquiring, managing, and maximizing the value of Manhattan commercial properties, SL Green continues to set the standard in property management and development. The company has recently unveiled transformative projects such as Le Jardin sur Madison and La Tête d’Or by Daniel at One Madison Avenue, a significant new office development in Midtown South. These spaces were designed by the renowned architect David Rockwell and famed chef Daniel Boulud, enriching the building's amenities and offering unique dining and event options.

SL Green Realty Corp. has a diversified portfolio that includes high-quality retail spaces alongside its office holdings. The company constantly seeks to enhance its asset value through strategic acquisitions, development, and leasing activities. Their properties are home to numerous high-profile tenants, which underscores their strong market position and capacity for sustained growth.

Financially, SL Green continues to demonstrate robust performance. The company recently increased its 2024 earnings guidance and holds a positive outlook for its future financial health. SL Green is also committed to sustainability and has been recognized with several awards for its environmental initiatives, including the 2024 ENERGY STAR Partner of the Year Sustained Excellence Award and being featured on the Sustainalytics 2024 ESG Top-Rated Companies List.

Additionally, SL Green maintains strategic partnerships with top companies in various industries, bolstering its market presence and operational efficiency. The company frequently updates investors and stakeholders through regular conference calls, with the next one scheduled for April 18, 2024, at 2:00pm ET.

SL Green Realty Corp. remains dedicated to delivering value to its shareholders through proactive asset management, strategic growth initiatives, and a commitment to sustainability.

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SL Green Realty Corp. announces that it has signed 31 office leases covering 299,137 square feet in the second quarter, bringing the 2023 office leasing volume to 803,819 square feet. The company also maintains an office leasing pipeline exceeding 1.0 million square feet. Notable recent leasing transactions include a 15-year renewal and expansion lease at 280 Park Avenue with one of the world's largest sovereign wealth funds, and two leases totaling 86,840 square feet at 245 Park Avenue.
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SL Green Realty Corp. (NYSE: SLG), New York's largest office landlord, has successfully completed refinancing for 919 Third Avenue, a premier 1.5 million square foot office building in Midtown Manhattan. The refinancing involves a $500 million mortgage loan with an interest rate of 6.11% fixed after a swap, with a 3-year term and two one-year extension options. The loan is backed by a lending group led by Aareal Capital Corporation and Credit Agricole Corporate and Investment Bank. This strategic refinancing underscores SL Green's strong market position and access to capital despite current market conditions. The building is currently 80% leased, housing key tenants like Bloomberg L.P. and others.

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SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has declared a monthly dividend of $0.2708 per share, payable on May 15, 2023, to shareholders of record by April 28, 2023. The company focuses on maximizing value through its interests in 60 buildings totaling 33.1 million square feet, comprising 28.8 million square feet in Manhattan and 3.4 million square feet in debt and preferred equity investments as of March 31, 2023. Forward-looking statements made in this release caution investors about the inherent risks and uncertainties in predicting future performance, emphasizing the importance of careful consideration of actual results versus expectations.

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SL Green Realty Corp. (NYSE: SLG) reported a net loss attributable to common stockholders of $39.7 million or $0.63 per share for Q1 2023, down from a net income of $7.8 million or $0.11 per share in Q1 2022. Funds from operations (FFO) decreased to $105.5 million or $1.53 per share, compared to $115.8 million or $1.65 per share last year. The company signed 41 office leases covering 504,682 square feet, achieving a 5.3% increase in mark-to-market rents. Same-store cash net operating income (NOI) grew by 3.0%, while occupancy stood at 90.2%. SL Green affirmed its goal of 92.4% occupancy by year-end. The company also earned the 2023 ENERGY STAR Partner of the Year award for six consecutive years, highlighting its commitment to sustainability.

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SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, is set to release its earnings for Q1 2023 on April 19, 2023, after market close. A conference call, led by CEO Marc Holliday, will follow on April 20, 2023, at 2:00 PM ET to discuss the financial results. Investors can access supplemental data on the company's website. As of December 31, 2022, SL Green managed 61 properties totaling 33.1 million square feet, with significant interests in Manhattan properties.

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SL Green Realty Corp. (NYSE: SLG) announced that Palo Alto Networks has signed a long-term lease for an entire tower floor at One Madison Avenue, enhancing SLG's 2023 office leasing volume to 491,913 square feet. The office leasing pipeline has increased to over 1.0 million square feet, up from 700,000 square feet just three weeks earlier. One Madison Avenue, a 1.4 million square foot development set for completion in October 2023, is currently 59% leased. The building features modern amenities, including a rooftop deck and fitness facilities, catering to high-performing companies' demand for quality office spaces.

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FAQ

What is the current stock price of SL Green Realty (SLG)?

The current stock price of SL Green Realty (SLG) is $68.01 as of December 20, 2024.

What is the market cap of SL Green Realty (SLG)?

The market cap of SL Green Realty (SLG) is approximately 5.0B.

What type of properties does SL Green Realty Corp. own?

SL Green Realty Corp. owns and manages commercial properties, primarily focusing on office spaces in Manhattan. The company also has a limited portfolio of well-located retail spaces.

What is the total square footage of properties managed by SL Green Realty?

As of December 31, 2023, SL Green Realty Corp. manages a total of 32.5 million square feet of office space, with 28.8 million square feet in wholly-owned properties and 2.8 million square feet securing debt and preferred equity investments.

What notable projects has SL Green recently unveiled?

SL Green has recently unveiled Le Jardin sur Madison and La Tête d’Or by Daniel at One Madison Avenue. These spaces feature unique dining and event options, and were designed by renowned architect David Rockwell and famed chef Daniel Boulud.

How does SL Green Realty Corp. contribute to sustainability?

SL Green Realty Corp. has been recognized for its sustainability efforts with several awards, including the 2024 ENERGY STAR Partner of the Year Sustained Excellence Award and being listed on the Sustainalytics 2024 ESG Top-Rated Companies List.

Who are some of SL Green Realty Corp.’s high-profile tenants?

SL Green Realty Corp. leases its office spaces to numerous high-profile tenants across various industries, enhancing its strong market position.

What is SL Green Realty’s financial outlook for 2024?

SL Green Realty Corp. has increased its earnings guidance for 2024, reflecting a positive financial outlook and robust performance.

When is SL Green Realty’s next conference call?

The next conference call for SL Green Realty Corp. is scheduled for April 18, 2024, at 2:00pm ET.

What is SL Green Realty Corp.’s business strategy?

SL Green Realty Corp.’s business strategy focuses on acquiring, managing, and maximizing the value of Manhattan commercial properties through strategic acquisitions, development, and proactive asset management.

What awards has SL Green Realty Corp. won for its environmental initiatives?

SL Green Realty Corp. has received several awards for its environmental initiatives, including the 2024 ENERGY STAR Partner of the Year Sustained Excellence Award and a place on the Sustainalytics 2024 ESG Top-Rated Companies List.

What makes SL Green Realty Corp. a leader in the real estate market?

SL Green Realty Corp.’s leadership in the real estate market is driven by its extensive portfolio of premium properties, strategic growth initiatives, strong financial performance, and commitment to sustainability.

SL Green Realty Corp.

NYSE:SLG

SLG Rankings

SLG Stock Data

5.00B
71.69M
0.08%
84.29%
10.55%
REIT - Office
Real Estate Investment Trusts
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United States of America
NEW YORK