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SL Green Realty Corp (SLG)



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Upturn Advisory Summary
09/17/2025: SLG (2-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $63.72
1 Year Target Price $63.72
2 | Strong Buy |
2 | Buy |
13 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 61.14% | Avg. Invested days 36 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.68B USD | Price to earnings Ratio - | 1Y Target Price 63.72 |
Price to earnings Ratio - | 1Y Target Price 63.72 | ||
Volume (30-day avg) 18 | Beta 1.72 | 52 Weeks Range 44.14 - 79.40 | Updated Date 09/17/2025 |
52 Weeks Range 44.14 - 79.40 | Updated Date 09/17/2025 | ||
Dividends yield (FY) 4.65% | Basic EPS (TTM) -0.55 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -1.95% | Operating Margin (TTM) 28.45% |
Management Effectiveness
Return on Assets (TTM) -0.55% | Return on Equity (TTM) -0.43% |
Valuation
Trailing PE - | Forward PE 9.56 | Enterprise Value 9347107999 | Price to Sales(TTM) 7.31 |
Enterprise Value 9347107999 | Price to Sales(TTM) 7.31 | ||
Enterprise Value to Revenue 10.37 | Enterprise Value to EBITDA 21.01 | Shares Outstanding 71022141 | Shares Floating 70946147 |
Shares Outstanding 71022141 | Shares Floating 70946147 | ||
Percent Insiders 0.07 | Percent Institutions 92.83 |
Upturn AI SWOT
SL Green Realty Corp

Company Overview
History and Background
SL Green Realty Corp. was founded in 1997 by Stephen L. Green. Initially focused on acquiring and managing office buildings in the New York City metropolitan area, it has grown to become the largest office landlord in Manhattan.
Core Business Areas
- Commercial Real Estate: SL Green focuses on acquiring, managing, and developing commercial properties, primarily office buildings, in Manhattan.
- Real Estate Debt Investments: SL Green originates, acquires, and manages debt investments secured by commercial real estate.
Leadership and Structure
Marc Holliday serves as the Chairman and Chief Executive Officer. The company has a traditional corporate structure with a board of directors overseeing management.
Top Products and Market Share
Key Offerings
- Office Space Leasing: SL Green's primary product is office space leasing in Manhattan. Market share fluctuates, but SL Green is consistently a top landlord. Competitors include Vornado Realty Trust (VNO) and Boston Properties (BXP). Revenue depends on occupancy rates and lease terms.
- Real Estate Debt Investments: SL Green offers financing solutions through debt investments. Market share data for this segment is less readily available, but it is a significant revenue contributor. Competitors include private equity firms and other REITs with lending arms.
Market Dynamics
Industry Overview
The commercial real estate industry is influenced by economic conditions, interest rates, and demand for office space. Trends include flexible workspaces, sustainability, and technological integration.
Positioning
SL Green is a dominant player in the Manhattan office market, leveraging its size and expertise. Its competitive advantages include a strong portfolio of prime properties and established relationships.
Total Addressable Market (TAM)
The total addressable market for Manhattan office space is estimated to be in the hundreds of billions of dollars. SL Green's TAM is related to Class A office spaces. Its position is as a major landlord capturing a good % of TAM.
Upturn SWOT Analysis
Strengths
- Dominant position in the Manhattan office market
- Experienced management team
- Strong portfolio of Class A properties
- Proven track record of development and redevelopment
- Established relationships with tenants and brokers
Weaknesses
- High concentration in a single geographic market (Manhattan)
- Sensitivity to economic cycles
- High debt levels
- Exposure to interest rate fluctuations
- Dependence on key tenants
Opportunities
- Acquisitions and development of new properties
- Repositioning of existing assets
- Expansion of debt investment business
- Capitalizing on demand for sustainable and tech-enabled office space
- Increasing rental rates in a recovering market
Threats
- Economic downturns and recessions
- Increased competition from other landlords
- Rising interest rates
- Changes in tenant preferences (e.g., remote work)
- Increased property taxes and operating expenses
Competitors and Market Share
Key Competitors
- VNO
- BXP
- ARE
- ESRT
- CUZ
Competitive Landscape
SL Green benefits from its size and Class A portfolio. However, it needs to maintain high occupancies. VNO has a broader portfolio of commercial properties, while BXP has a better diversified US Market. ARE is in a different market of lab spaces. ESRT is focused on the iconic Empire State Building and CUZ on diversified spaces
Major Acquisitions
450 Park Avenue
- Year: 2023
- Acquisition Price (USD millions): 445
- Strategic Rationale: Acquisition of a prime office tower to improve SL Green's portfolio.
Growth Trajectory and Initiatives
Historical Growth: Discussion and numbers to support needs to be entered here, showing how SL Green has performed.
Future Projections: Analyst estimates to be provided.
Recent Initiatives: Highlights of recent strategic initiatives undertaken by SL Green Realty Corp.
Summary
SL Green holds a strong position as Manhattan's largest office landlord with valuable Class A properties. However, high debt and concentration in a single market makes it susceptible to economic volatility and interest rates. Growth opportunities lie in new acquisitions and redevelopment, but the shift to remote work poses a challenge. The company must maintain high occupancy rates and manage expenses effectively to thrive.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Analyst reports
- Industry publications
Disclaimers:
This analysis is for informational purposes only and does not constitute investment advice. Data may be subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About SL Green Realty Corp
Exchange NYSE | Headquaters New York, NY, United States | ||
IPO Launch date 1997-08-15 | Interim President, Chairman & CEO Mr. Marc Holliday | ||
Sector Real Estate | Industry REIT - Office | Full time employees 1221 | Website https://www.slgreen.com |
Full time employees 1221 | Website https://www.slgreen.com |
SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of June 30, 2025, SL Green held interests in 53 buildings totaling 30.7 million square feet. This included ownership interests in 27.2 million square feet of Manhattan buildings and 2.7 million square feet securing debt and preferred equity investments.

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