Skip to Content
Morningstar
Get 14 Days Free

SL Green Realty Corp SLG

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

SL Green Realty Reports Middling Q2 Results Amid a Challenging Environment for Office Real Estate

Kevin Brown Equity Analyst

Analyst Note

| Kevin Brown |

No-moat rated SL Green reported middling second-quarter results amid a challenging environment for office real estate, with the company reporting funds from operations of $1.60 per share compared with $1.70 per share in the second quarter of 2020. Meanwhile, same-store cash net operating income decreased by 3.7% when compared with the prior year's period. Office utilization rates in central business districts have shown some improvement over the last quarter as companies encouraged their employees to return to the office, but utilization rates remain tepid at approximately 25% with a markedly slow transition.

Read Full Analysis

Company Profile

Business Description

SL Green is the largest Manhattan property owner and landlord, with around 46 million square feet of wholly owned and joint venture office space. The company has additional property exposure through its limited portfolio of well-located retail space. It operates as a real estate investment trust.

Contact
420 Lexington Avenue
New York, NY, 10170
T +1 212 594-2700
Sector Real Estate
Industry REIT - Office
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 794

Related

Stock Strategist Industry Reports
Office Real Estate Isn't Going Away
Although the pandemic has proved the viability of remote work, we think offices are here to stay.
Yousuf Hafuda
Stock Strategist Industry Reports
Coronavirus Opportunity and Risk: Tech, Telecom, and Financials Stocks
Our analysts discuss where they see value in their sectors today.
Susan Dziubinski
Stock Strategist Industry Reports
Coworking Can Work for Investors
Despite the WeWork debacle, flex space gives office real estate a new lease on life.
Yousuf Hafuda
Stock Strategist Industry Reports
A Fresh Look at Office Real Estate
We think fears of overbuilding in Manhattan are unwarranted.
Yousuf Hafuda
Premium Article
13 Undervalued No-Moat Stocks
Though not exactly 'fat pitches,' these stocks are all trading in 4- and 5-star range.
Susan Dziubinski
Fund Times
Is Cohen & Steers Realty Too Big?
Asset size makes it difficult for this Bronze-rated fund to buy REITs at the lower end of the market-cap spectrum.
Alec Lucas
Fund Times
Traditional Real Estate Is This Fund's Desired Location
Steady performance in a variety of markets, low fees, and topnotch stewardship earn T. Rowe Price Real Estate a Gold Analyst Rating.
David Kathman
Stock Strategist Industry Reports
An Upcoming Buying Spree for Commercial Real Estate?
We think conditions could favor a flurry of deals in this once-troubled sector.
Todd Lukasik
Stock Strategist
Sweeping Earnings for Economic Landmines
We scour third-quarter earnings from REITs and oil firms for signs of upcoming economic stumbling blocks.
Jeremy Glaser
Stock Strategist
The Market's Most Overvalued Stocks
There are still expensive stocks in real estate.
Joel Bloomer
Stock Strategist
The Market's Most Overvalued Stocks
There's still time to sell these stocks even after the recent market decline.
Joel Bloomer

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.