earnings
confidence high
sentiment negative
materiality 0.70
SL Green Q3 2022 EPS $0.11 (down from $5.91); FFO $1.66 (down from $1.78)
SL GREEN REALTY CORP
2022-Q3 EPS reported
-$0.47
revenue$601,865,000
- Net income to common stockholders $7.4M ($0.11/share) vs $388.2M ($5.91) due to lower gains from asset sales.
- FFO per share $1.66 vs $1.78; same-store cash NOI down 0.5% ex-lease termination income.
- Signed 32 Manhattan office leases totaling 930k sq ft; mark-to-market on replacement leases +2.8%.
- Agreed to sell 414k sq ft at 885 Third Ave to MSK for $300.4M; close expected Q4 2022.
- Closed new $400M unsecured term loan; executed $1.25B in fixed-rate swaps to hedge rates.