SL Green Realty (SLG)
NYSEReal EstateReit - OfficeSnapshot 2026-09-09
$52.43-0.70%
Close 2026-09-09 · 1-day change
NYSEReal EstateReit - OfficeSnapshot 2026-09-09
Broken: Recent financial performance freshly dropped to the bottom half of its industry.
SL Green Realty is improving revenue and operating income. Revenue rose to $253M in Q1 2026. Operating income increased to $145M in the same quarter. The company maintains dividend payments despite challenges.
SL Green is loss-making with EPS guidance negative for 2026. Revenue is expected to decline about 25% next year. The sector faces headwinds and the stock price is correcting.
The market prices in about 25% revenue decline and a stretched valuation. Our fair value is slightly above the Street median, reflecting cautious optimism on recovery.
Breaks if: dividend per share falls below $0.60
Breaks if: EPS guidance falls below -0.27 USD per share
operating income falls below $136M quarterly
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround situation with a focus on improving occupancy and financial performance. The current thesis state is weakened, as recent performance has dropped in comparison to its industry peers.
The market seems to reflect a low fragility tier, indicating that expectations may not fully account for the company's recent struggles. There is a noticeable expectations gap, suggesting that the current valuation might not be justified given the company's loss-making status.
Management is making mixed progress toward its goals, such as increasing occupancy and Funds From Operations (FFO). However, there is a near-term risk of missing earnings expectations, which has been a concern in recent quarters.
The long-term thesis hinges on several factors, including the potential for the Fed to cut rates, which could benefit the real estate sector. Additionally, the performance of sector bellwethers and SLG's ability to maintain its dividend payments will be crucial.
The most important moves since the prior daily snapshot.
Yes, our read has weakened. SLG's recent financial performance fell to the bottom half of its sector. This change means the reason to own it has weakened. The company also lost management of Worldwide Plaza amid foreclosure. This impacts capital allocation and management strategy.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: quarterly revenue falls below $239M
Over the next 1 to 3 years, SLG's outlook will depend on its ability to navigate sector headwinds and improve its financial metrics. Not investment advice.