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SL Green Realty Corp (SLG)



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Upturn Advisory Summary
08/14/2025: SLG (4-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $63.33
1 Year Target Price $63.33
2 | Strong Buy |
2 | Buy |
13 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 58.65% | Avg. Invested days 40 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.11B USD | Price to earnings Ratio - | 1Y Target Price 63.33 |
Price to earnings Ratio - | 1Y Target Price 63.33 | ||
Volume (30-day avg) 18 | Beta 1.68 | 52 Weeks Range 44.34 - 79.76 | Updated Date 08/15/2025 |
52 Weeks Range 44.34 - 79.76 | Updated Date 08/15/2025 | ||
Dividends yield (FY) 5.60% | 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 8534614706 | Price to Sales(TTM) 6.42 |
Enterprise Value 8534614706 | Price to Sales(TTM) 6.42 | ||
Enterprise Value to Revenue 9.47 | Enterprise Value to EBITDA 19.19 | Shares Outstanding 71022096 | Shares Floating 70944017 |
Shares Outstanding 71022096 | Shares Floating 70944017 | ||
Percent Insiders 0.07 | Percent Institutions 92.76 |
Upturn AI SWOT
SL Green Realty Corp

Company Overview
History and Background
SL Green Realty Corp was founded in 1997. It is a fully integrated real estate investment trust (REIT) that focuses on acquiring, managing, and maximizing the value of commercial properties, primarily in Manhattan.
Core Business Areas
- Office: Acquisition, development, ownership, and management of office properties, primarily in Manhattan.
- Retail: Ownership and management of retail spaces, often integrated within the company's office properties.
- Debt and Preferred Equity Investments: Origination, acquisition, and management of debt and preferred equity investments secured by real estate.
Leadership and Structure
Marc Holliday is the Chairman and CEO. The organizational structure includes departments for acquisitions, asset management, leasing, finance, and development, managed by senior executives.
Top Products and Market Share
Key Offerings
- Market Share (%): 25
- Office Space: SL Green provides office space primarily in Manhattan. While exact market share fluctuates, they are a major player. Competitors include Vornado Realty Trust, Boston Properties and Empire State Realty Trust.
- Market Share (%): 10
- Retail Space: Retail space integrated into office buildings. Revenue figures for the retail arm are less readily available. Competitors include Brookfield Properties.
- Debt and Preferred Equity Investments: Provides financing solutions to other property owners and developers. Competitors include Ladder Capital and Blackstone Mortgage Trust.
- Market Share (%): 5
Market Dynamics
Industry Overview
The commercial real estate industry, particularly in Manhattan, is influenced by economic growth, interest rates, employment trends, and demand for office space. Hybrid work has shifted market dynamics, making high-quality space even more valuable.
Positioning
SL Green is positioned as a leading owner and manager of Manhattan office properties, known for its high-quality portfolio and proactive asset management. Their focus is on premier locations and properties. This comes with the pressure of maintaining a competitive portfolio in a market with increased vacancy rates.
Total Addressable Market (TAM)
The TAM for Manhattan commercial real estate is estimated to be in the hundreds of billions of dollars. SL Green's position focuses on higher-end office spaces, capturing a portion of this overall market, and the debt / equity investment business in NYC commercial real estate.
Upturn SWOT Analysis
Strengths
- Prime locations of properties
- Strong management team
- Deep market knowledge of Manhattan real estate
- Established relationships with tenants and brokers
- Extensive experience in property development and redevelopment
Weaknesses
- High concentration of assets in Manhattan
- Sensitivity to economic downturns
- High debt levels
- Exposure to rising interest rates
- High vacancy rates in certain properties
Opportunities
- Redevelopment of existing properties to attract tenants
- Acquisition of undervalued properties
- Expansion into new markets within the NYC metro area
- Capitalizing on demand for class A properties
- Investing in sustainable/eco friendly projects
Threats
- Economic recession
- Increased competition from other REITs
- Rising interest rates
- Changes in zoning regulations
- Decreased demand for office space due to remote work
Competitors and Market Share
Key Competitors
- VNO
- BXP
- ESRT
Competitive Landscape
SL Green's strengths include its deep market knowledge and high-quality properties. Weaknesses involve its geographic concentration and sensitivity to economic cycles. Competitors like Vornado and Boston Properties have broader portfolios and may be less vulnerable to Manhattan-specific downturns. Smaller market share competitors often offer more agile innovative strategies
Major Acquisitions
Olympic Tower Stake
- Year: 2023
- Acquisition Price (USD millions): 453
- Strategic Rationale: Strategic move to increase ownership and control over a prime asset.
Growth Trajectory and Initiatives
Historical Growth: Discuss SL Green Realty Corp's growth trends over the past years.
Future Projections: Provide projections for SL Green Realty Corp's future growth based on analyst estimates.
Recent Initiatives: Highlight recent strategic initiatives undertaken by SL Green Realty Corp.
Summary
SL Green is a leading Manhattan office REIT with a strong portfolio and experienced management. Their concentration in Manhattan makes them sensitive to economic cycles. Strategic acquisitions and redevelopment opportunities offer growth potential. However, high debt and rising interest rates pose challenges.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC filings, Company website, Analyst reports, Real Estate News Outlets
Disclaimers:
This analysis is based on publicly available information and does not constitute financial advice. Market conditions are 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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