Sl Green Rlty Stock Price, News & Analysis

SL Green Realty Corp. (NYSE: SLG) reported a net income of $105.3 million, or $1.51 per share, for Q2 2021, up from $56.4 million, or $0.76 per share in Q2 2020. This includes gains of $108.3 million from property sales. Funds from operations (FFO) decreased to $1.60 per share, down from $1.70 per share a year prior. Manhattan office occupancy stood at 93.6%, with a significant leasing activity of 42 office leases. The company repurchased 4 million shares under its $3.5 billion buyback plan and closed several notable property transactions, reaffirming its market position.

SL Green Realty Corp has successfully closed a $3.0 billion 10-year fixed-rate financing for One Vanderbilt Avenue, marking the largest non-portfolio, single asset, single borrower CMBS securitization in history. This financing features a coupon rate of 2.855%, replacing a previous $1.75 billion construction loan. Currently, One Vanderbilt is 89% leased, housing prominent firms across finance, law, and real estate. This financing showcases the building's appeal and SL Green's strategic partnerships with leading financial institutions.

SL Green Realty Corp. (NYSE: SLG) will announce its Q2 2021 earnings on July 21, 2021, after market close. A conference call led by CEO Marc Holliday is scheduled for July 22, 2021, at 2:00 PM ET to discuss the results. Investors can find supplemental information on the company’s website. SL Green, Manhattan's largest office landlord, operates as a real estate investment trust, managing significant commercial properties in New York City, with 84 buildings totaling 37.8 million square feet as of March 31, 2021.

SL Green Realty Corp. (NYSE:SLG) has declared a monthly dividend of $0.3033 per share, payable on July 15, 2021, to shareholders of record by June 30, 2021. Additionally, the company declared a quarterly dividend of $0.40625 per share for its Series I Preferred Stock, also payable on July 15, 2021. SL Green is Manhattan's largest office landlord, managing 84 buildings totaling 37.8 million square feet as of March 31, 2021, focusing on maximizing the value of commercial properties.

SL Green Realty Corp. (NYSE: SLG) has announced that One Vanderbilt Avenue is now 89% leased following the signing of three new leases. A major lease of 97,652 square feet for 15 years was signed with a new tenant, boosting occupancy significantly. TD Securities expanded its lease by 24,020 square feet to occupy 142,892 square feet total. InTandem Capital Partners and Sagewind Capital expanded by 2,163 square feet. The building is on track to exceed a 90% leasing projection by year-end.

SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has declared a monthly dividend of $0.3033 per share, payable on June 15, 2021, to shareholders of record as of May 31, 2021. The company, focused on acquiring and managing Manhattan commercial properties, held interests in 84 buildings totaling 37.8 million square feet as of March 31, 2021.

SL Green Realty Corp. (NYSE:SLG) has announced the sale of 635-641 Sixth Avenue in New York for $325 million, valued at over $1,200 per square foot. The transaction, closing in Q2 2021, will yield approximately $312.5 million in net cash proceeds. The property, with an 8-story layout and 267,000 square feet, is currently 94% leased, anchored by Infor through 2030. SL Green acquired this asset in 2012 for $173 million and undertook significant redevelopment efforts.

SL Green Realty Corp. announced that Kyndryl signed a 22,531-square-foot, 9-year lease at One Vanderbilt Avenue, marking the building's occupancy at 81%. This new lease comes as Kyndryl prepares for its separation from IBM, expected by the end of 2021. One Vanderbilt is designed to attract leading companies due to its amenities and sustainable practices, aiming for 90% occupancy by year-end. As of March 31, 2021, SL Green held interests in 84 buildings totaling 37.8 million square feet.

SL Green Realty Corp. (NYSE:SLG) announces the departure of Chief Investment Officer David Schonbraun, effective by the end of Q2 2021. After 19 years, Schonbraun plans to explore new opportunities amidst a changing commercial real estate landscape. He played a significant role in the company’s growth and investment strategy. The firm's 2021 investment strategy, including asset sales, joint ventures, and stock buybacks, will now be managed by Brett Herschenfeld, Robert Schiffer, and Harrison Sitomer. As of March 31, 2021, SL Green manages interests in 84 buildings totaling 37.8 million square feet.