SL Green Realty Q3 net income jumps, lifts FY profit guidance

Sl Green Realty

21/10/2026 21:51

Overview
US office landlord's Q3 net income per share rose to $1.01 from $0.34 yr/yr
Q3 FFO per share increased slightly to $1.59 from $1.58 yr/yr
Company raised 2026 FFO and net income guidance, citing joint venture sale and higher rates

Outlook
SL Green raises 2026 FFO guidance to $6.50-$6.70 per share
Company lifts 2026 net income guidance to $0.40-$0.60 per share

Result Drivers
HIGHER OFFICE INCOME - Co said Manhattan same-store cash NOI rose 5.0% in Q3, driven by rental and occupancy gains
RENTAL RATE GAINS - Co reported signed Manhattan office leases at rents 13.6% above prior leases in Q3
OCCUPANCY IMPROVEMENT - Manhattan same-store office occupancy increased to 95.0% at quarter end

Company press release: ID:nGNXg5Nq4

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
$273.03 mln
 
Q3 EPS
 
$1.01
 
Q3 Net Income
 
$72.20 mln
 
Q3 FFO
 
$122.07 mln
 
Q3 FFO Per Share
 
$1.59
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy."
Wall Street's median 12-month price target for SL Green Realty Corp is $56.25, about 20.5% above its October 21 closing price of $46.68

Reuters Recommended Reads
Oct 20 - Agree Realty Q3 net income per share up 18.5%; raises FY26 AFFO guidance
Oct 21 - Essential Properties Q3 AFFO per share rises, lifts 2026 outlook
Oct 21 - Getty Realty Q3 rental income rises 13.8% on acquisitions, lifts FY guidance

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)