earnings
confidence high
sentiment neutral
materiality 0.70
SL Green Q3 net loss $0.21/sh; FFO $1.13; same-store cash NOI up 2.9%
SL GREEN REALTY CORP
2024-Q3 EPS reported
-$0.06
revenue$640,393,000
- Net loss attributable to common stockholders of $13.3M ($0.21 per share), improving from $24.0M loss ($0.38) in Q3 2023.
- FFO of $78.6M ($1.13 per share), down from $87.7M ($1.27) in prior year; included $9.0M non-cash derivative fair value adjustments.
- Manhattan same-store office occupancy rose to 90.1% (incl. signed not yet commenced), expected to reach 92.5% by Dec 31, 2024.
- Signed 42 Manhattan office leases totaling 763,755 sq ft; mark-to-market on replacement leases 10.8% higher than prior rents.
- Closed sale of Palisades Premier Conference Center for $26.3M generating $19.8M net proceeds; debt modification on 220 E 42nd St extended to Dec 2027 at 6.77% fixed.