SL Green Realty Corp. (NYSE:SLG ) Q2 2025 Earnings Conference Call July 17, 2025 2:00 PM ET Company Participants Harrison Sitomer - Chief Investment Officer Marc Holliday - Interim President, Chairman & CEO Matthew J. DiLiberto - Chief Financial Officer Steven M.
SLG beats second-quarter FFO estimates with higher Manhattan rent and lifts its full-year 2025 guidance outlook amid higher interest expenses.
Get a deeper insight into the potential performance of SL Green (SLG) for the quarter ended June 2025 by going beyond Wall Street's top-and-bottom-line estimates and examining the estimates for some of its key metrics.
SLG gains 12.7% in three months as strong leasing, long-term tenants and its Manhattan focus drive momentum.
SLG is set to gain from the high demand for top-quality office spaces. However, high competition and elevated interest rates are concerns.
SL Green (SLG) reported earnings 30 days ago. What's next for the stock?
SL Green is down 20% year-to-date to trade at 9.8x annualized fiscal 2025 first quarter FFO. The REIT offers a 5.5% dividend yield with a 55% payout ratio. Manhattan's leasing activity is robust, with fourth quarter 2024 volume the highest in five years. SLG's occupancy is expected to rise to 93.2% by the end of 2025.
SL Green Realty Corp. management affirmed that original guidance remains intact. Management plans to leverage current market uncertainties to their advantage. Funds From Operations exceeded first-quarter expectations.
SL Green Realty Corp. (NYSE:SLG ) Q1 2025 Earnings Conference Call April 17, 2025 2:00 PM ET Company Participants Marc Holliday - Chairman and Chief Executive Officer Steve Durels - Executive Vice President, Director of Leasing and Real Property Harrison Sitomer - Chief Investment Officer Matthew DiLiberto - Chief Financial Officer Brett Herschenfeld - Executive Vice President, Retail and Opportunistic Investments Conference Call Participants Alexander Goldfarb - Piper Sandler Nicholas Yulico - Scotiabank Steve Sakwa - Evercore ISI Jana Galan - Bank of America Securities John Kim - BMO Capital Markets Ronald Kamdem - Morgan Stanley Blaine Heck - Wells Fargo Omotayo Okusanya - Deutsche Bank Seth Bergey - Citi Vikram Malhotra - Mizuho Peter Abramowitz - Jefferies Operator Thank you, everyone, for joining us and welcome to SL Green Realty Corp's First Quarter 2025 Earnings Results Conference Call. This conference call is being recorded.
SLG's Q1 results reflect improved average rental rates on the Manhattan office leases and higher same-store cash NOI.
Although the revenue and EPS for SL Green (SLG) give a sense of how its business performed in the quarter ended March 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
SL Green (SLG) came out with quarterly funds from operations (FFO) of $1.40 per share, beating the Zacks Consensus Estimate of $1.27 per share. This compares to FFO of $3.07 per share a year ago.