SL Green Realty reports Q4 net loss

Overview

• Manhattan office landlord's Q4 net loss was $104.6 mln, reversing prior yr profit

• Q4 FFO per share decreased yr/yr, impacted by fewer debt extinguishments

• Company closed $730 mln acquisition of Park Avenue Tower in January 2026

Outlook

• Company did not provide specific guidance for future quarters or full year

Result Drivers

• LEASE SIGNINGS - SL Green signed 56 Manhattan office leases totaling 766,783 sq ft in Q4 2025, with a 6.4% increase in mark-to-market rents

• OCCUPANCY INCREASE - Manhattan same-store office occupancy rose to 93.0% as of Dec 31, 2025, up from 92.4% in the previous quarter

• DEBT EXTINGUISHMENTS - Lower gains from discounted debt extinguishments impacted FFO per share compared to the previous year

Key Details

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 $54.00, about 20.2% above its January 27 closing price of $44.91

Press Release: ID:nGNX7BwWfV

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