SL Green Realty reaffirms 2026 FFO guidance

Sl Green Realty

15/04/2026 21:20

Overview

US office landlord's Q1 net loss widened yr/yr, FFO per share declined

Company reaffirmed 2026 FFO guidance range

Q1 Manhattan leasing volume hit record first quarter high, same-store cash NOI rose 2.6%

Outlook

Company reaffirms 2026 FFO guidance range of $4.40 to $4.70 per share

Company expects Manhattan same-store office occupancy to reach 95.0% by Dec 31, 2026

Result Drivers

RECORD LEASING VOLUME - Co signed 51 Manhattan office leases totaling 929,264 sq ft, the highest Q1 volume in its history

HIGHER RENTS - Replacement leases in Manhattan achieved average starting rents 16.1% above previous fully escalated rents

OCCUPANCY GAINS - Manhattan same-store office occupancy rose to 94.4% as of March 31, 2026, up from 93.0% as of December 31, 2025

Company press release: ID:nGNX6D884d

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$1.20
Q1 Net Income
-$84.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 8 "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 $44.00, about 8.2% above its April 14 closing price of $40.66

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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.)