Manhattan office REIT SL Green's Q3 profit beats expectations

Reuters

2025/10/16

Manhattan office REIT SL Green's Q3 profit beats expectations

Overview

SL Green Realty Q3 net income of $0.34 per share, beating analyst expectations
Funds from operations for Q3 rise to $1.58 per share from $1.13 in 2024
Company entered contract to purchase Park Avenue Tower for $730 mln

Outlook

SL Green expects Manhattan office occupancy to reach 93.2% by year-end 2025

Result Drivers

LEASING ACTIVITY - Signed 52 Manhattan office leases totaling 657,942 sq ft, contributing to increased occupancy
INVESTMENT STRATEGY - Entered contract to purchase Park Avenue Tower for $730 mln, expected to close Q1 2026
SAME-STORE NOI DECLINE - Same-store cash NOI decreased by 4.2% in Q3, partly due to lower percentage rent from One Vanderbilt

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 EPS	Beat	$0.34	-$0.21 (6 Analysts)
Q3 Net Income	Beat	$24.90 mln	-$8.73 mln (9 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for SL Green Realty Corp is $63.50, about 11.8% above its October 14 closing price of $56.03

Press Release: ID:nGNXbz2dpK

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Manhattan office REIT SL Green's Q3 profit beats expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票月供概念","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251015:nL2N3VW12H:1","article_id":"2575995751","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2575995751","pubTimestamp":1760561372,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Manhattan office REIT SL Green's Q3 profit beats expectationsOverviewSL Green Realty Q3 net income of $0.34 per share, beating analyst expectationsFunds from operations for Q3 rise to $1.58 per share ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4588":"碎股","SLG":"SL Green Realty Corp","BK4223":"办公室房地产信托","BK4194":"办公房地产投资信托"},"translate_title":"曼哈顿写字楼REIT SL Green第三季度利润超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SLG":0.9},"content_text":"Manhattan office REIT SL Green's Q3 profit beats expectationsOverviewSL Green Realty Q3 net income of $0.34 per share, beating analyst expectationsFunds from operations for Q3 rise to $1.58 per share from $1.13 in 2024Company entered contract to purchase Park Avenue Tower for $730 mlnOutlookSL Green expects Manhattan office occupancy to reach 93.2% by year-end 2025Result DriversLEASING ACTIVITY - Signed 52 Manhattan office leases totaling 657,942 sq ft, contributing to increased occupancyINVESTMENT STRATEGY - Entered contract to purchase Park Avenue Tower for $730 mln, expected to close Q1 2026SAME-STORE NOI DECLINE - Same-store cash NOI decreased by 4.2% in Q3, partly due to lower percentage rent from One VanderbiltKey DetailsMetricBeat/MissActualConsensus EstimateQ3 EPSBeat$0.34-$0.21 (6 Analysts)Q3 Net IncomeBeat$24.90 mln-$8.73 mln (9 Analysts)Analyst CoverageThe current average analyst rating on the shares is \"buy\" and the breakdown of recommendations is 7 \"strong buy\" or \"buy\", 10 \"hold\" and 1 \"sell\" or \"strong sell\"The average consensus recommendation for the commercial reits peer group is \"buy\"Wall Street's median 12-month price target for SL Green Realty Corp is $63.50, about 11.8% above its October 14 closing price of $56.03Press Release: ID:nGNXbz2dpKFor questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}