SL Green Realty Past Earnings Performance
Past criteria checks 0/6
SL Green Realty's earnings have been declining at an average annual rate of -44.1%, while the Office REITs industry saw earnings declining at 4.4% annually. Revenues have been declining at an average rate of 1.1% per year.
Key information
-44.12%
Earnings growth rate
-43.45%
EPS growth rate
| Office REITs Industry Growth | 3.05% |
| Revenue growth rate | -1.12% |
| Return on equity | -3.50% |
| Net Margin | -18.89% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 16
SLG: New York Leasing And Asset Sales Are Expected To Support Future Cash Flows
Analysts have nudged the fair value estimate for SL Green Realty higher to about $64, citing a series of recent price target increases into the low to mid $50s and improved sentiment around New York City office leasing after first-quarter updates and the NAREIT conference. Analyst Commentary Bullish analysts have been adjusting their fair value views on SL Green around fresh information from first quarter updates and the recent NAREIT conference, with several price targets now clustered in the low to mid US$50 range.
Narrative Update • Jun 02
SLG: Office Leasing Recovery And Joint Venture Activity Will Ultimately Disappoint
Narrative Update Analysts have inched up their average price target on SL Green Realty by $1, citing indications of stronger NYC office leasing momentum and broad-based tenant demand. At the same time, updated models reflect a slightly higher discount rate and more cautious assumptions on revenue, profit margins, and valuation multiples.Seeking Alpha • May 19
SL Green: Occupancy Gains, But FFO Continues To Dip
Summary SL Green Realty Corp. saw significant occupancy and leasing gains in the first quarter as FFO declined, and rising U.S. Treasury yields look set to form a headwind for REITs. SLG's Manhattan same-store occupancy rose to 94.4% in the first quarter, with guidance for this to reach 95% by the end of 2026. First quarter FFO fell to $0.84 per share, missing consensus and down from $1.43 in the year-ago comp. Read the full article on Seeking AlphaNarrative Update • May 11
SLG: Leasing And Capital Recycling Progress Are Expected To Support Future Cash Flows
Analysts have nudged their blended fair value estimate for SL Green Realty higher to about $63.56, citing recent price target increases, more optimistic profit margin assumptions, and a lower implied future P/E multiple, even as they factor in a slightly higher discount rate and softer revenue growth expectations. Analyst Commentary Recent Street research on SL Green Realty shows a mix of higher and lower price targets, but with a clear cluster of constructive calls that anchor the blended fair value estimate around the low to mid US$60s.Narrative Update • Apr 27
SLG: AI Disruption Narrative Will Pressure Office Demand And Future Earnings Multiples
The analyst fair value target for SL Green Realty has shifted modestly lower to $36 as analysts balance updated sector headwinds, including AI related concerns for office demand and valuation multiples, against recent price target changes and mixed rating actions across the Street. Analyst Commentary Research commentary on SL Green Realty has been mixed, with a series of price target changes in both directions over recent months.Narrative Update • Apr 13
SLG: Leasing Progress And Park Avenue Tower Acquisition Are Expected To Support Future Cash Flows
SL Green Realty's analyst price target has been trimmed by about $1 to reflect slightly softer revenue growth and profit margin assumptions, as analysts factor in recent target cuts tied to concerns about office demand, AI related job risks and sector multiples, partially balanced by some support from improved leasing commentary. Analyst Commentary Recent Street research around SL Green Realty reflects a mixed backdrop of price target revisions, with several firms cutting targets on office demand and AI related risks, alongside a smaller group of bullish analysts pointing to valuation support and improving leasing trends.Narrative Update • Mar 30
SLG: Leasing Progress And Park Avenue Assets Are Expected To Support Future Cash Flows
The updated analyst price target for SL Green Realty has edged lower by about $1.45 per share as analysts factor in slightly higher discount rates, modestly weaker revenue growth assumptions, and a marginally softer profit margin outlook. Recent rating changes and target resets highlight differing views on office demand risks and valuation.Narrative Update • Mar 16
SLG: Leasing Momentum And Park Avenue Cluster Are Expected To Support Cash Flows
Analysts have trimmed the fair value estimate for SL Green Realty by about $4.90 to $65.94. This reflects a series of reduced price targets across the Street that cite concerns around office REIT cash flow visibility, valuation multiples and the potential impact of AI on long term office demand, even as some still view current pricing as attractive.Narrative Update • Mar 02
SLG: AI Disruption And Leasing Progress Will Shape Future Earnings Power
Analysts have reduced their blended price target and fair value estimate for SL Green Realty, with our fair value moving from $42.00 to $37.00. This reflects updated views on higher required returns, weaker expected revenue growth, and lower profit margins for office REITs as AI related disruption pressures sector multiples.
Narrative Update • Feb 16
SLG: Midtown Acquisitions And Leasing Progress Will Support Future Upside
SL Green Realty's updated analyst price target has shifted from about $56.79 to roughly $51.83, as analysts factor in a series of target cuts across the Street and adjust for a higher discount rate, softer revenue expectations, slimmer profit margins, and a higher assumed future P/E multiple. Analyst Commentary Recent Street research on SL Green Realty has been clustered around reduced price targets, with analysts reworking their models to reflect sector wide pressures in office and broader real estate.Narrative Update • Feb 01
SLG: Leasing Momentum And Park Avenue Transactions Will Support Future Cash Flows
Analysts have trimmed their price targets on SL Green Realty, and our updated fair value estimate now sits at about US$70.83 per share, up roughly US$0.26. This reflects lower revenue growth and profit margin assumptions, which are partially offset by a higher future P/E multiple.Narrative Update • Jan 18
SLG: Leasing Momentum And Manhattan Acquisitions Will Support Future Cash Flows
Analysts have reduced their fair value estimate for SL Green Realty from about US$76.00 to roughly US$70.57, reflecting lower Street price targets along with updated assumptions on discount rates, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on SL Green Realty has leaned cautious on price targets, but there are still some clear positives that bullish analysts are highlighting for investors.Narrative Update • Jan 04
SLG: Rising Interest Costs Will Undermine Earnings Despite Strong Leasing Momentum
Analysts have trimmed their fair value estimate for SL Green Realty from $50.00 to $42.00 as they weigh lower long term revenue growth expectations and modestly tighter profit margin and valuation assumptions against still solid sector level leasing momentum and resilient Q3 REIT earnings. Analyst Commentary Recent Street research on SL Green Realty reflects a more cautious stance, with a series of incremental price target reductions clustering in a relatively short time frame.Narrative Update • Dec 14
SLG: Midtown Acquisition And Leasing Pipeline Will Drive Upside Ahead
Analysts have trimmed their blended price target on SL Green Realty by about $3 to the mid $60s, reflecting modestly lower fair value estimates. They continue to cite steady leasing momentum, solid Q3 REIT sector performance, and improving long term AFFO trends, tempered by higher interest expense and softer investment income assumptions.Narrative Update • Nov 27
SLG: Leasing Momentum And New Midtown Deal Will Drive Office Market Upside
Analysts have revised their average price target for SL Green Realty down slightly to approximately $60.16 from $62, citing cautious outlooks on FFOPS estimates and persistent interest expense concerns. This comes despite signs of leasing momentum and recent strong sector earnings.Narrative Update • Nov 13
SLG: Improving Leasing Momentum Will Drive Opportunity Following Midtown Office Acquisition
The analyst consensus price target for SL Green Realty has been adjusted lower by $0.05 to $62.00. Analysts cite mixed sector momentum, changing interest expense expectations, and revisions to forward earnings estimates as key factors behind the modest reduction.Narrative Update • Oct 29
Upcoming Manhattan Acquisition Will Drive Long-Term Gains Amid Market Uncertainty
Analysts have slightly reduced their price target for SL Green Realty, lowering it from approximately $63.28 to $62.05. This adjustment is based on updated forecasts for interest expenses and investment income, despite some positive operational trends.
New Narrative • Mar 20
New York City's Office Market Will Boost Leasing Activity, But Economic Uncertainties May Challenge Profitability
Strong leasing activity and focus on prime assets likely drive revenue growth through higher rents and decreased concessions alongside rising occupancy rates.Seeking Alpha • Oct 17
SL Green: Solid Q3 Results Reduce Melting Ice Cube Fears (Rating Upgrade)
Summary SL Green Realty's Q3 results were solid with strong leasing activity and cost control, but the stock's valuation now reflects these improvements. Despite initial fears, office occupancy has been better than expected, particularly in Manhattan, with significant renewals like Bloomberg's 11-year lease. SLG's balance sheet remains debt-heavy, making the stock volatile, but recent refinancing and property openings have improved its positioning. Given the current valuation and focus on balance sheet improvement, I recommend a "hold" rating, seeing limited upside, but no material downside absent a recession. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How SL Green Realty makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 937 | -177 | 90 | 0 |
| 31 Dec 25 | 947 | -114 | 89 | 0 |
| 30 Sep 25 | 662 | 0 | 90 | 0 |
| 30 Jun 25 | 641 | -38 | 87 | 0 |
| 31 Mar 25 | 649 | -29 | 86 | 0 |
| 31 Dec 24 | 707 | 5 | 85 | 0 |
| 30 Sep 24 | 920 | -161 | 105 | 0 |
| 30 Jun 24 | 901 | -171 | 106 | 0 |
| 31 Mar 24 | 898 | -529 | 109 | 0 |
| 31 Dec 23 | 837 | -582 | 111 | 0 |
| 30 Sep 23 | 948 | -490 | 93 | 0 |
| 30 Jun 23 | 944 | -459 | 92 | 0 |
| 31 Mar 23 | 917 | -143 | 92 | 0 |
| 31 Dec 22 | 861 | -95 | 94 | 0 |
| 30 Sep 22 | 719 | -81 | 96 | 0 |
| 30 Jun 22 | 718 | 298 | 98 | 0 |
| 31 Mar 22 | 726 | 447 | 97 | 0 |
| 31 Dec 21 | 806 | 432 | 95 | 0 |
| 30 Sep 21 | 844 | 653 | 94 | 0 |
| 30 Jun 21 | 884 | 281 | 94 | 0 |
| 31 Mar 21 | 938 | 232 | 95 | 0 |
| 31 Dec 20 | 1,028 | 354 | 92 | 0 |
| 30 Sep 20 | 1,029 | 200 | 92 | 0 |
| 30 Jun 20 | 1,104 | 220 | 92 | 0 |
| 31 Mar 20 | 1,150 | 324 | 94 | 0 |
| 31 Dec 19 | 1,204 | 254 | 101 | 0 |
| 30 Sep 19 | 1,220 | 176 | 101 | 0 |
| 30 Jun 19 | 1,224 | 231 | 98 | 0 |
| 31 Mar 19 | 1,225 | 174 | 95 | 0 |
| 31 Dec 18 | 1,235 | 231 | 93 | 0 |
| 30 Sep 18 | 1,300 | 321 | 95 | 0 |
| 30 Jun 18 | 1,370 | 271 | 98 | 0 |
| 31 Mar 18 | 1,455 | 176 | 100 | 0 |
| 31 Dec 17 | 1,533 | 86 | 100 | 0 |
| 30 Sep 17 | 1,433 | 102 | 98 | 0 |
| 30 Jun 17 | 1,468 | 98 | 100 | 0 |
| 31 Mar 17 | 1,700 | 223 | 100 | 0 |
| 31 Dec 16 | 1,782 | 234 | 100 | 0 |
| 30 Sep 16 | 1,907 | 291 | 97 | 0 |
| 30 Jun 16 | 1,914 | 421 | 95 | 0 |
| 31 Mar 16 | 1,698 | 248 | 93 | 0 |
| 31 Dec 15 | 1,676 | 255 | 95 | 0 |
| 30 Sep 15 | 1,628 | 189 | 95 | 0 |
| 30 Jun 15 | 1,604 | 56 | 94 | 0 |
Quality Earnings: SLG is currently unprofitable.
Growing Profit Margin: SLG is currently unprofitable.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: SLG is unprofitable, and losses have increased over the past 5 years at a rate of 44.1% per year.
Accelerating Growth: Unable to compare SLG's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: SLG is unprofitable, making it difficult to compare its past year earnings growth to the Office REITs industry (9.3%).
Return on Equity
High ROE: SLG has a negative Return on Equity (-3.5%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/20 01:09 |
| End of Day Share Price | 2026/06/18 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
SL Green Realty Corp. is covered by 40 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Argus Research Company |
| David Rodgers | Baird |
| Ross Smotrich | Barclays |