earnings
confidence high
sentiment negative
materiality 0.75
SL Green reports Q1 net loss of $0.63/share; FFO $1.53 vs $1.65 YoY
SL GREEN REALTY CORP
2023-Q1 EPS reported
-$0.63
revenue$223,575,000
- Net loss attributable to common stockholders of $39.7M ($0.63/share) vs net income of $7.8M ($0.11) in Q1 2022.
- FFO of $105.5M ($1.53/share), down from $115.8M ($1.65); includes $6.9M reserve on one debt/equity investment.
- Same-store cash NOI (incl. JV share) rose 5.3% excluding lease termination income; Manhattan office occupancy 90.2%.
- Signed 41 Manhattan office leases totaling 504,682 sq ft; mark-to-market up 5.3% on replacement leases.
- Reaffirmed year-end 2023 occupancy target of 92.4% (incl. signed not commenced); monthly dividend unchanged at $0.2708.