SL Green Realty
Owns and develops Manhattan offices, operates SUMMIT, and finances real estate.
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Profile
Owns, operates, develops and finances Manhattan-centered commercial real estate, collecting office rent, SUMMIT ticket revenue, and income from debt and preferred-equity investments. An integrated operating platform uses joint ventures and capital recycling, while performance depends on New York office demand and financing markets.
Owns, manages, develops, repositions and finances commercial real estate concentrated in Manhattan, with office leasing at the core. SUMMIT One Vanderbilt adds ticket revenue from an immersive observation experience, while debt and preferred-equity investments, including an opportunistic debt fund, generate interest and fee income.
Combines in-house leasing, property management, construction, development, acquisitions, dispositions and financing. Joint ventures support large projects and allow ownership stakes to be recycled while management or development roles are retained.
Results depend on Manhattan tenant demand and lease economics, visitor demand at SUMMIT, and access to property and corporate financing. The REIT structure requires distributing most taxable income to shareholders.
Company facts
Key statistics
Year to date +22.6% · Average volume (30d) 966.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 24, 2026 | Truist Financial | Target | $44 | $57 | |
| Aug 5, 2026 | Scotiabank | Reiterate | Sector Outperform | $56 | $60 |
| Jul 27, 2026 | UBS | Target | $56 | $60 | |
| Jul 24, 2026 | Piper Sandler | Reiterate | Overweight | $65 | $79 |
| Jul 22, 2026 | Morgan Stanley | Reiterate | Equal Weight | $43 | $52 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | −$0.59 | −$0.38 | +35.2% | $179.0M | $171.8M | −4.0% | +6.96% |
| Apr 15, 2026Q1 FY26 | $1.06 | $0.84 | −20.8% | $165.3M | $166.0M | +0.4% | −1.97% |
| Jan 28, 2026Q4 FY25 | $1.10 | $1.13 | +2.7% | $149.7M | $159.8M | +6.8% | +2.25% |
| Oct 15, 2025Q3 FY25 | $1.34 | $1.58 | +17.9% | $162.0M | $244.8M | +51.1% | −5.79% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $241.0M | $219.1M | $244.8M | $276.5M | $253.1M | $264.0M | |
| Gross profit | $119.9M | $145.6M | $207.2M | $98.8M | $3.3M | $221.6M | |
| Operating income | $98.1M | $124.0M | $183.5M | $13.8M | $28.6M | $198.8M | |
| Net income | −$15.2M | −$5.2M | $30.8M | −$98.7M | −$78.5M | −$26.5M | |
| Diluted EPS | −$0.28 | −$0.15 | $0.34 | −$1.29 | −$1.20 | −$0.38 | |
| Gross margin | 49.7% | 66.5% | 84.6% | 35.7% | 1.3% | 83.9% | |
| Operating margin | 40.7% | 56.6% | 74.9% | 5.0% | 11.3% | 75.3% |
Fiscal years (4-quarter sums)FY21 $766.0M · FY22 $861.5M · FY23 $837.2M · FY24 $706.6M · FY25 $981.4M
Revenue by product · Q4 FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $202.1M · Total debt $5.17B · Total assets $11.81B · Shareholders' equity $3.42B
Dividends
Last raised to $0.6175 from $0.2575 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.6175 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.6175 | raised from $0.2575 |
| Nov 28, 2025 | Nov 28 | Dec 15 | $0.2575 | |
| Oct 31, 2025 | Oct 31 | Nov 17 | $0.2575 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.2575 | |
| Aug 29, 2025 | Aug 29 | Sep 15 | $0.2575 | |
| Jul 31, 2025 | Jul 31 | Aug 15 | $0.2575 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.2575 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 71.12M · Float 70.65M · 99.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 13.65M | 19.20% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 7.28M | 10.24% | 13F | Aug 13, 2026 |
| Cohen & Steers, Inc. | 6.23M | 8.76% | 13F | Aug 14, 2026 |
| State Street Corp | 4.07M | 5.72% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 3.20M | 4.50% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Harrison Sitomer | officer: PRESIDENT & CIO | −23,113 | $57.71 |
| Aug 20, 2026 | Harrison Sitomer | officer: PRESIDENT & CIO | −16,887 | $58.52 |
| Mar 30, 2026 | Carol N. Brown | director | −5,004 | $36.33 |
| Dec 23, 2025 | Marc Holliday | director, officer: PRESIDENT & CEO | −22,223 | $44.40 |
| Dec 22, 2025 | Andrew S. Levine | officer: CHIEF LEGAL OFFICER & GC | −1,493 | $45.27 |
Peers
- Vornado Realty Trust
Direct Manhattan office and redevelopment rival
- BXP
Premier-workplace scale across New York and other gateways
- Empire State Realty Trust
NYC office peer with a directly comparable observatory line
- Brookfield
Global real estate parent behind major Manhattan office assets
- Alexander's
Small NYC REIT with concentrated office and retail overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SL Green Realty | $57.95 | +0.68% | $4.09B | — | — | 3.9 | −29.0% |
| Vornado Realty Trust | $38.20 | 0.00% | $7.19B | 1,154.1 | — | 3.9 | +4.7% |
| BXP | $68.89 | −0.61% | $11.05B | 37.3 | 33.8 | 3.1 | +3.1% |
| Empire State Realty Trust | $4.59 | 0.00% | $787.0M | — | — | 1.0 | +3.0% |
| Brookfield | $41.33 | −0.01% | $92.31B | 74.1 | 12.8 | 1.2 | +9.3% |
| Alexander's | $270.19 | +0.01% | $1.38B | 8.2 | 24.8 | 6.4 | +6.1% |
| Median | 55.7 | 24.8 | 3.1 | +4.7% |