SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties.
SL Green Realty Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$73.25|
|52 Week High||US$41.65|
|52 Week Low||US$85.65|
|1 Month Change||4.54%|
|3 Month Change||-11.21%|
|1 Year Change||53.32%|
|3 Year Change||-27.02%|
|5 Year Change||-34.16%|
|Change since IPO||184.69%|
Recent News & Updates
SL Green Realty: The King Of The Island
This REIT is the largest office REIT in Manhattan. We cover this one for the first time today and start with the Q2-2021 financial results. We go over the recent leasing trends and tell you why this is perhaps not as cheap as it actually appears.
Here's Why I Think SL Green Realty (NYSE:SLG) Is An Interesting Stock
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
|SLG||US REITs||US Market|
Return vs Industry: SLG exceeded the US REITs industry which returned 34.7% over the past year.
Return vs Market: SLG exceeded the US Market which returned 35.3% over the past year.
Stable Share Price: SLG is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: SLG's weekly volatility (4%) has been stable over the past year.
About the Company
SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet. This included ownership interests in 28.6 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.
SL Green Realty Fundamentals Summary
|SLG fundamental statistics|
Is SLG overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|SLG income statement (TTM)|
|Cost of Revenue||US$379.11m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Oct 20, 2021
|Earnings per share (EPS)||3.96|
|Net Profit Margin||29.59%|
How did SLG perform over the long term?See historical performance and comparison
5.0%Current Dividend Yield
Does SLG pay a reliable dividends?See SLG dividend history and benchmarks
|SL Green Realty dividend dates|
|Ex Dividend Date||Sep 29 2021|
|Dividend Pay Date||Oct 15 2021|
|Days until Ex dividend||3 days|
|Days until Dividend pay date||19 days|
Does SLG pay a reliable dividends?See SLG dividend history and benchmarks
Is SL Green Realty undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SLG ($73.25) is trading below our estimate of fair value ($182.04)
Significantly Below Fair Value: SLG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SLG is good value based on its PE Ratio (18.5x) compared to the US REITs industry average (50.1x).
PE vs Market: SLG is poor value based on its PE Ratio (18.5x) compared to the US market (17.9x).
Price to Earnings Growth Ratio
PEG Ratio: SLG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: SLG is good value based on its PB Ratio (1.1x) compared to the US REITs industry average (2x).
How is SL Green Realty forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SLG's earnings are forecast to decline over the next 3 years (-12.9% per year).
Earnings vs Market: SLG's earnings are forecast to decline over the next 3 years (-12.9% per year).
High Growth Earnings: SLG's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SLG's revenue (4.3% per year) is forecast to grow slower than the US market (9.8% per year).
High Growth Revenue: SLG's revenue (4.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SLG's Return on Equity is forecast to be low in 3 years time (2.8%).
How has SL Green Realty performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SLG has a large one-off gain of $261.6M impacting its June 30 2021 financial results.
Growing Profit Margin: SLG's current net profit margins (29.6%) are higher than last year (20%).
Past Earnings Growth Analysis
Earnings Trend: SLG's earnings have grown by 2.6% per year over the past 5 years.
Accelerating Growth: SLG's earnings growth over the past year (27.9%) exceeds its 5-year average (2.6% per year).
Earnings vs Industry: SLG earnings growth over the past year (27.9%) exceeded the REITs industry 3.9%.
Return on Equity
High ROE: SLG's Return on Equity (6.2%) is considered low.
How is SL Green Realty's financial position?
Financial Position Analysis
Short Term Liabilities: SLG's short term assets ($763.9M) exceed its short term liabilities ($181.7M).
Long Term Liabilities: SLG's short term assets ($763.9M) do not cover its long term liabilities ($5.6B).
Debt to Equity History and Analysis
Debt Level: SLG's debt to equity ratio (88.5%) is considered high.
Reducing Debt: SLG's debt to equity ratio has reduced from 93.1% to 88.5% over the past 5 years.
Debt Coverage: SLG's debt is not well covered by operating cash flow (9.1%).
Interest Coverage: SLG's interest payments on its debt are not well covered by EBIT (1.7x coverage).
What is SL Green Realty current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: SLG's dividend (4.97%) is higher than the bottom 25% of dividend payers in the US market (1.33%).
High Dividend: SLG's dividend (4.97%) is in the top 25% of dividend payers in the US market (3.6%)
Stability and Growth of Payments
Stable Dividend: SLG's dividends per share have been stable in the past 10 years.
Growing Dividend: SLG's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (55.7%), SLG's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SLG's dividends in 3 years are forecast to be covered by earnings (53.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Marc Holliday (55 yo)
Mr. Marc Holliday has been the Chief Executive Officer at SL Green Realty Corp. since January 5, 2004 and serves as Chairman of the Board since January 2019. He serves as the Chairman and Chief Executive O...
CEO Compensation Analysis
Compensation vs Market: Marc's total compensation ($USD15.19M) is above average for companies of similar size in the US market ($USD6.40M).
Compensation vs Earnings: Marc's compensation has been consistent with company performance over the past year.
Experienced Management: SLG's management team is seasoned and experienced (6.7 years average tenure).
Experienced Board: SLG's board of directors are considered experienced (7.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: SLG insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
SL Green Realty Corp.'s employee growth, exchange listings and data sources
- Name: SL Green Realty Corp.
- Ticker: SLG
- Exchange: NYSE
- Founded: 1997
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$5.198b
- Market Cap: US$4.919b
- Shares outstanding: 70.97m
- Website: https://www.slgreen.com
Number of Employees
- SL Green Realty Corp.
- 420 Lexington Avenue
- New York
- New York
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/25 22:18|
|End of Day Share Price||2021/09/24 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.