Sl Green Rlty Stock Price, News & Analysis

SL Green Realty Corp (NYSE: SLG), New York City's largest office landlord, has announced its participation in the BofA Securities 2024 Global Real Estate Conference on September 11, 2024. Key executives, including Matt DiLiberto (CFO), Harrison Sitomer (CIO), and Steven Durels (EVP and Director of Leasing and Real Property), will engage in a roundtable discussion at 1:30 PM ET.

The event will be accessible via a live audio-webcast in listen-only mode. Presentation materials will be available before the webcast in the Investors' section of SL Green's website. A replay of the audio-webcast will also be provided. This participation underscores SL Green's commitment to investor relations and market presence in the real estate sector.

SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has announced a monthly ordinary dividend of $0.25 per share of common stock. This is equivalent to an annualized dividend of $3.00 per share. The dividend will be paid in cash on September 16, 2024 to shareholders of record as of the close of business on August 30, 2024. This announcement demonstrates SL Green's commitment to providing regular returns to its shareholders, which could be seen as a positive sign for investors interested in income-generating real estate investments.

SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, has successfully modified and extended the mortgage on 220 East 42nd Street in partnership with its joint venture partner. The modification includes:

1. A $9.0 million paydown of the principal balance to $496.4 million
2. Extension of the maturity date by over three years, from July 2024 to December 2027
3. Maintenance of the interest rate at 2.75% over term SOFR, fixed at 6.77% through maturity

The 37-story art-deco skyscraper, also known as The Daily News Building, is currently 91% occupied with notable tenants including Visiting Nurse Services, Omnicom Group, United Nations Development Program, and WPIX.

SL Green Realty Corp (NYSE:SLG), Manhattan's largest office landlord, has announced a monthly ordinary dividend of $0.25 per share of common stock. This is equivalent to an annualized dividend of $3.00 per share. The dividend will be paid in cash on August 15, 2024 to shareholders of record as of the close of business on July 31, 2024. This announcement demonstrates SL Green's commitment to providing regular returns to its shareholders, maintaining its position as a significant player in the Manhattan real estate market.

SL Green Realty Corp. (NYSE: SLG) reported Q2 2024 results with EPS of ($0.04) and FFO of $2.05 per share. The company increased its 2024 FFO guidance to $7.45-$7.75 per share, reflecting portfolio outperformance and fee generation. Key highlights include:

- Signed 38 Manhattan office leases covering 420,513 sq ft in Q2
- Mark-to-market on signed leases was 15.5% higher in Q2
- Manhattan same-store office occupancy increased to 89.6%
- Contracted sale of Giorgio Armani Residences for $168.2 million
- Closed on sale of 625 Madison Avenue for $634.6 million
- Modified and extended $1.075 billion mortgage on 280 Park Avenue

The company continues to grow its special servicing and asset management business, with $3.0 billion of active assignments.

SL Green Realty Corp (NYSE: SLG), Manhattan's largest office landlord, has announced the closure of three property sales totaling $691.4 million. The transactions include:

1. 625 Madison Avenue: Sold for $634.6 million, with SLG originating a $235.5 million preferred equity investment.

2. 719 Seventh Avenue in Times Square: Sold for $30.5 million.

3. Palisades Premier Conference Center: Sold for $26.3 million.

These sales generated net proceeds of $222.7 million, which the company used for corporate debt repayment. Brett Herschenfeld, Executive VP of Retail & Opportunistic Investments, stated that these strategic transactions demonstrate progress towards SLG's 2024 business goals amidst an improving market backdrop.

SL Green Realty Corp. (NYSE: SLG), Manhattan's largest office landlord, has announced 66,014 square feet of new retail leases since Q1 2024, achieving full retail occupancy at One Madison Avenue. The development features high-profile tenants including La Tête d'Or by Daniel Boulud, Delicious Hospitality Group, Los Tacos No. 1, Sweetgreen, Alidoro, and Jōji Box. These join the existing anchor tenant, Chelsea Piers, set to open in August 2024.

Additional notable leases include Brasserie Cognac at 461 Fifth Avenue and Chase Bank's renewal at 810 Seventh Avenue. The strong leasing activity reflects the demand for quality retail space in New York City, driven by increased foot traffic and tourism.

SL Green Realty Corp., Manhattan's largest office landlord, has announced the sellout of the Giorgio Armani Residences at 760 Madison Avenue on the Upper East Side. All 10 luxury residential units are now under contract for a total gross consideration of $168.2 million. The sales are expected to close in the fourth quarter of 2024.

The development, a collaboration between SL Green, Giorgio Armani, COOKFOX architecture firm, and Victoria Hagan as creative consultant, features a fluted limestone façade reflecting Armani's classic style while respecting the Upper East Side's historic aesthetic. Several units offer Central Park views and outdoor space. Douglas Elliman Development Marketing served as the exclusive marketing and sales agency.

SL Green Realty Corp. (NYSE:SLG), Manhattan's largest office landlord, has announced significant leasing activity in 2024. The company signed leases totaling 420,513 square feet in Q2 and an additional 367,401 square feet in July, bringing the year-to-date total to 1,421,574 square feet. Notable leases include:

- Ares Management: 307,336 sq ft at 245 Park Avenue
- Elliot Management Corp: 149,437 sq ft at 280 Park Avenue
- Tradeweb Markets : 75,825 sq ft at 245 Park Avenue
- Golenbock Eiseman Assor Bell & Peskoe: 38,050 sq ft renewal at 711 Third Avenue
- Brightwood Capital Advisors: 17,320 sq ft renewal at 810 Seventh Avenue

SL Green maintains a pipeline of approximately 1.2 million square feet. The company notes that tenant demand is focused on upgraded, amenitized buildings near mass transit.