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SL Green Realty Corp Stock Research

SLG

26.29USD-1.34(-4.85%)Market Closed

Market Summary

USD26.29-1.34
Market Closed
-4.85%

SLG Alerts

SLG Stock Price

SLG RSI Chart

SLG Valuation

Market Cap

1.7B

Price/Earnings (Trailing)

-22.04

Price/Sales (Trailing)

2.08

Price/Free Cashflow

6.23

SLG Price/Sales (Trailing)

SLG Profitability

Return on Equity

-1.7%

Return on Assets

-0.63%

Free Cashflow Yield

16.05%

SLG Fundamentals

SLG Revenue

Revenue (TTM)

826.7M

Revenue Y/Y

15.57%

Revenue Q/Q

5.84%

SLG Earnings

Earnings (TTM)

-78.1M

Earnings Y/Y

-27.36%

Earnings Q/Q

-644.66%

Price Action

52 Week Range

25.4580.12
(Low)(High)

Last 7 days

-16.8%

Last 30 days

-30.5%

Last 90 days

-22.6%

Trailing 12 Months

-63.5%

SLG Financial Health

Debt/Equity

0.3

Debt/Cashflow

0.24

SLG Investor Care

Dividend Yield

14.03%

Dividend/Share (TTM)

3.69

Shares Dilution (1Y)

0.47%

Diluted EPS (TTM)

-1.49

Peers (Alternatives to SL Green Realty)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
51.7B
4.2B
-4.61% -14.88%
11.88
12.36
22.43% 122.66%
30.0B
4.7B
-6.82% -21.36%
79.47
6.4
5.96% -77.90%
22.3B
2.7B
-9.31% -29.65%
28.69
8.21
11.91% -41.71%
21.2B
2.6B
-23.98% -31.95%
40.62
8.18
22.46% -8.68%
13.2B
1.7B
-4.07% -13.87%
104.43
7.61
26.61% -85.07%
MID-CAP
7.7B
1.1B
-13.38% -14.77%
20.08
7.2
12.95% 47.42%
4.3B
802.0M
-9.03% -5.22%
-341.02
5.37
114.83% 84.36%
2.9B
1.8B
-31.59% -62.57%
-8.47
1.63
13.26% -296.88%
2.1B
859.2M
-25.44% -29.31%
-31.63
2.43
1.38% -563.21%
SMALL-CAP
1.9B
421.4M
-3.41% 12.84%
22.56
4.55
3.35% 1705.32%
1.7B
826.7M
-30.54% -63.53%
-22.04
2.08
-2.04% -117.36%
1.0B
190.3M
-7.76% -1.93%
11.27
5.46
12.08% 1950.56%
983.2M
740.4M
-22.73% -54.50%
-27.01
1.33
1.87% -78.85%

Financials for SL Green Realty

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue3.8%827796789806844
Operating Expenses3.9%174167163167167
  S&GA Expenses-2.4%94.0096.0098.0097.0095.00
EBITDA-320----
EBITDA Margin-0.38*----
EBT Margin-0.21*----
Interest Expenses20.7%166138131137145
Net Income-20.0%-78.07-65.07316465450
Net Income Margin-15.6%-0.09*-0.08*0.34*0.58*-
Free Cahsflow-12.2%276315335319-
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets-2.8%12,35612,71610,70511,01511,067
    Cash Equivalents1.0%203201189224251
Liabilities-3.1%7,2617,4925,4435,7245,748
  Long Term Debt-1,394----
Shareholder's Equity-2.2%4,5854,6884,7494,7394,765
  Retained Earnings-13.9%651756780847976
  Additional Paid-In Capital0.3%3,7903,7803,8013,7933,739
Shares Outstanding0.1%65.0065.0065.0065.0065.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations-12.2%276315335319256
Cashflow From Investing12.0%426380487987994
Cashflow From Financing0.1%-654-655-861-1,399-1,285
  Dividend Payments-0.4%262263264268271
  Buy Backs-28.7%151212314409341

Risks for SLG

What is the probability of a big loss on SLG?

55.4%


Probability that SL Green Realty stock will be more than 20% underwater in next one year

37.3%


Probability that SL Green Realty stock will be more than 30% underwater in next one year.

35%


Probability that SL Green Realty stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SLG drawdown profile look like?

Y-axis is the maximum loss one would have experienced if SL Green Realty was unfortunately bought at previous high price.

Drawdowns

Returns for SLG

Cumulative Returns on SLG

-7.4%


10-Year Cumulative Returns

-12.5%


7-Year Cumulative Returns

-18.6%


5-Year Cumulative Returns

-20.8%


3-Year Cumulative Returns

What are the long-term rolling returns for SLG?

FIve years rolling returns for SL Green Realty.

Annualized Returns

Which funds bought or sold SLG recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
110
481,849
1,111,850
-%
2023-03-06
Rockefeller Capital Management L.P.
added
92.68
21,000
52,000
-%
2023-02-28
Voya Investment Management LLC
reduced
-87.15
-2,306,000
278,999
-%
2023-02-24
NATIXIS
new
-
15,655,300
15,655,300
0.09%
2023-02-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
unchanged
-
-68,000
353,000
-%
2023-02-21
KB FINANCIAL PARTNERS, LLC
sold off
-100
-1,000
-
-%
2023-02-21
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC
reduced
-35.9
-172,299
200,701
-%
2023-02-21
MACQUARIE GROUP LTD
added
42.89
119,925
1,102,920
-%
2023-02-21
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
reduced
-28.57
-42,595
64,405
-%
2023-02-21
CENTERSQUARE INVESTMENT MANAGEMENT LLC
sold off
-100
-2,285,000
-
-%

1–10 of 48

Latest Funds Activity

Are funds buying SLG calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own SLG
No. of Funds

SL Green Realty News

MarketWatch

SL Green Realty Corp. stock falls Wednesday, underperforms market.

MarketWatch,
6 hours ago

London South East

InvestorsObserver

GuruFocus.com

SL Green Realty Corp. Announce.

GuruFocus.com,
2 days ago

London South East

InvestorsObserver

Schedule 13G FIlings of SL Green Realty

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
vanguard group inc
14.68%
9,442,145
SC 13G/A
Feb 07, 2023
state street corp
5.83%
3,748,307
SC 13G/A
Jan 23, 2023
blackrock inc.
15.9%
10,257,395
SC 13G
Feb 14, 2022
price t rowe associates inc /md/
1.2%
857,222
SC 13G/A
Feb 14, 2022
state street corp
5.15%
3,438,086
SC 13G/A
Jan 27, 2022
blackrock inc.
14.6%
9,764,636
SC 13G/A
Jan 26, 2022
blackrock inc.
14.6%
9,764,636
SC 13G/A
Jul 01, 2021
pggm investments
4.33%
2
SC 13G
Apr 12, 2021
blackrock inc.
11.7%
8,143,758
SC 13G
Feb 16, 2021
price t rowe associates inc /md/
7.2%
5,264,117
SC 13G/A

SLG Fair Value

SL Green Realty fair value in different scenarios

The table shows the Fair Value estimates for SL Green Realty for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

25.53

-2.89%

29.74

13.12%

34.17

29.97%

53.26

102.59%

66.43

152.68%
Current Inflation

25.06

-4.68%

28.73

9.28%

32.63

24.12%

49.21

87.18%

60.52

130.20%
Very High Inflation

24.45

-7.00%

27.47

4.49%

30.75

16.96%

44.38

68.81%

53.56

103.73%

Historical SL Green Realty Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of SL Green Realty

View All Filings
Date Filed Form Type Document
Mar 06, 2023
4
Insider Trading
Mar 06, 2023
4
Insider Trading
Mar 06, 2023
8-K
Current Report
Feb 22, 2023
4
Insider Trading
Feb 17, 2023
10-K
Annual Report
Feb 14, 2023
4
Insider Trading
Feb 14, 2023
4
Insider Trading
Feb 09, 2023
SC 13G/A
Major Ownership Report
Feb 08, 2023
4/A
Insider Trading
Feb 07, 2023
SC 13G/A
Major Ownership Report

Latest Insider Trading transactions for SLG

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-03
HATKOFF CRAIG M
sold
-308,790
34.31
-9,000
-
2023-01-24
BURTON EDWIN T III
acquired
-
-
6,889
-
2023-01-24
ATKINS BETSY S
acquired
-
-
6,889
-
2023-01-24
HATKOFF CRAIG M
acquired
-
-
7,072
-
2023-01-24
Dillard Lauren B.
acquired
-
-
6,889
-
2022-12-14
LEVINE ANDREW S
gifted
-
-
-1,300
chief legal officer & gc
2022-10-28
LEVINE ANDREW S
gifted
-
-
-800
chief legal officer & gc
2022-10-19
HATKOFF CRAIG M
acquired
-
-
155
-
2022-07-18
HATKOFF CRAIG M
acquired
-
-
132
-
2022-04-21
HATKOFF CRAIG M
acquired
-
-
77.00
-

1–10 of 50

Marc Holliday
930
SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet. This included ownership interests in 28.6 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.

SLG Income Statement

2022-12-31
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues   
Rental revenue, net$ 671,500$ 678,176$ 804,423
Investment income81,11380,340120,163
Other income74,12685,475128,158
Total revenues826,739843,9911,052,744
Expenses   
Operating expenses, including related party expenses of $5,701 in 2022, $12,377 in 2021 and $12,643 in 2020174,063167,153183,200
Real estate taxes138,228152,835176,315
Operating lease rent26,94326,55429,043
Interest expense, net of interest income89,47370,891116,679
Amortization of deferred financing costs7,81711,42411,794
Depreciation and amortization215,306216,869313,668
Loan loss and other investment reserves, net of recoveries02,93135,298
Transaction related costs4093,773503
Marketing, general and administrative93,79894,91291,826
Total expenses746,037747,342958,326
Equity in net loss from unconsolidated joint ventures(57,958)(55,402)(25,195)
Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate(131)(32,757)2,961
Purchase price and other fair value adjustments(8,118)210,070187,522
(Loss) gain on sale of real estate, net(84,485)287,417215,506
Depreciable real estate reserves and impairments(6,313)(23,794)(60,454)
Loss on early extinguishment of debt0(1,551)0
Net (loss) income(76,303)480,632414,758
Net loss (income) attributable to noncontrolling interests:   
Noncontrolling interests in the Operating Partnership5,794(25,457)(20,016)
Net loss (income) attributable to noncontrolling interests in other partnerships(1,122)1,884(14,940)
Preferred unit distributions(6,443)(7,305)(8,747)
Net income (loss) attributable to SL Green/SLGOP(78,074)449,754371,055
Perpetual preferred stock dividends(14,950)(14,950)(14,950)
Net (loss) income attributable to SL Green common stockholders$ (93,024)$ 434,804$ 356,105
Basic earnings per share (in dollars per share)$ (1.49)$ 6.57$ 5.03
Diluted earnings per share (in dollars per share)$ (1.49)$ 6.50$ 5.01
Basic weighted average common shares outstanding (in shares)63,91765,74070,397
Diluted weighted average common shares and common share equivalents outstanding (in shares)67,92970,76975,078

SLG Balance Sheet

2022-12-31
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Commercial real estate properties, at cost:  
Land and land interests$ 1,576,927$ 1,350,701
Building and improvements4,903,7763,671,402
Building leasehold and improvements1,691,8311,645,081
Right of use asset - operating leases1,026,265983,723
Total commercial real estate properties, at cost9,198,7997,650,907
Less: accumulated depreciation(2,039,554)(1,896,199)
Total commercial real estate properties, net7,159,2455,754,708
Assets held for sale0140,855
Cash and cash equivalents203,273251,417
Restricted cash180,78185,567
Investments in marketable securities11,24034,752
Tenant and other receivables34,49747,616
Related party receivables27,35229,408
Deferred rents receivable257,887248,313
Debt and preferred equity investments, net of discounts and deferred origination fees of $1,811 and $5,057 and allowances of $6,630 and $6,630 in 2022 and 2021, respectively623,2801,088,723
Investments in unconsolidated joint ventures3,190,1372,997,934
Deferred costs, net121,157124,495
Other assets546,945262,841
Total assets[1]12,355,79411,066,629
Liabilities  
Mortgages and other loans payable, net3,227,5631,394,386
Revolving credit facility, net443,217381,334
Unsecured term loans, net1,641,5521,242,002
Unsecured notes, net99,692899,308
Accrued interest payable14,22712,698
Other liabilities236,211195,390
Accounts payable and accrued expenses154,867157,571
Deferred revenue272,248107,275
Lease liability - financing leases104,218102,914
Lease liability - operating leases895,100851,370
Dividend and distributions payable21,569187,372
Security deposits50,47252,309
Liabilities related to assets held for sale064,120
Junior subordinated deferrable interest debentures held by trusts that issued trust preferred securities100,000100,000
Total liabilities[1]7,260,9365,748,049
Commitments and contingencies
Noncontrolling interests in Operating Partnership269,993344,252
Preferred units177,943196,075
SL Green stockholders' equity:  
Series I Preferred Stock, $0.01 par value, $25.00 liquidation preference, 9,200 issued and outstanding at both December 31, 2022 and 2021221,932221,932
Common stock, $0.01 par value, 160,000 shares authorized and 65,440 and 65,132 issued and outstanding at December 31, 2022 and 2021, respectively (including 1,060 and 1,027 shares held in treasury at December 31, 2022 and 2021, respectively)656672
Additional paid-in-capital3,790,3583,739,409
Treasury stock at cost(128,655)(126,160)
Accumulated other comprehensive income (loss)49,604(46,758)
Retained earnings651,138975,781
Total SL Green stockholders' equity4,585,0334,764,876
Noncontrolling interests in other partnerships61,88913,377
Total equity4,646,9224,778,253
Total liabilities and equity/capital$ 12,355,794$ 11,066,629
[1](1) The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs"). See Note 2. The consolidated balance sheets include the following amounts related to our consolidated VIEs, excluding the Operating Partnership: $41.2 million and $193.4 million of land, $41.0 million and $336.9 million of building and improvements, $— million and $— million of building and leasehold improvements, $— million and $15.4 million of right of use assets, $4.4 million and $11.7 million of accumulated depreciation, $599.2 million and $574.4 million of other assets included in other line items, $49.8 million and $418.9 million of real estate debt, net, $0.2 million and $0.8 million of accrued interest payable, $— million and $15.3 million of lease liabilities, and $146.4 million and $145.2 million of other liabilities included in other line items as of December 31, 2022 and December 31, 2021, respectively.