Pulling SEC filings + quote and writing the call…

SL GREEN REALTY CORP
Next earnings Jul 14, 2026 · consensus $-0.55 EPS, $180M rev
Last earnings -2.0% on 2026-04-16
Manhattan office bellwether with improving top line but still GAAP-unprofitable; cheap on assets, risky on leverage — a hold, not a buy.
Sources: SEC EDGAR (CIK 0001040971, latest 10-Q filed 2026-05-01) · EODHD · analysis by claude-code · as of 6/25/2026, 1:16:44 PM.
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SL Green is the largest Manhattan office landlord, with 16 consolidated buildings (~9.5M sq ft) plus 10 unconsolidated buildings (~13.9M sq ft) concentrated in midtown. The 2025 numbers show a real top-line recovery — revenue grew 13.2% to $1.00B, the first material acceleration in years after FY2021-2024 stagnated in the $861M-$919M band. Operating margin remains exceptional at 65.0%, reflecting the structural economics of owning trophy office assets. However, the same filing shows the recovery is uneven beneath the headline: net income swung back to -$96.9M from a slim +$22.0M in FY2024, diluted EPS is -$1.61, and ROE is negative at -2.6%. This is the third loss in five years (FY2022, FY2023, FY2025), and accumulated retained earnings are now -$742M (down another 65.2%), reflecting the long hangover from the post-2020 Manhattan office reset.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $861M | $919M | $914M | $886M | $1.00B |
| Gross profit | — | — | — | — | — |
| Operating income | — | $606M | $599M | $731M | $652M |
| Net income | $450M | -$78.1M | -$565M | $22.0M | -$96.9M |
| Diluted EPS | $6.50 | -$1.49 | -$9.12 | $0.08 | -$1.61 |
| Net margin | 52.2% | -8.5% | -61.8% | 2.5% | -9.7% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Annual meeting vote results disclosed; routine governance, no material business change.
Q1 2026 10-Q filed; Manhattan office portfolio leasing trends remain mixed amid leverage build.
2026 proxy: board slate, exec comp and auditor ratification put to shareholders.
Q1 2026 earnings release and supplemental; results posted alongside investor materials.
Entered material agreement with share issuance — likely financing/JV that dilutes or recapitalizes.
Executive officer change announced; transition risk pending successor execution.
FY25: revenue $1.00B (+13%) but net loss $96.9M; leverage up, OCF -36%, dividends still rising.
Q4 2025 earnings released; FY2025 net loss of $96.9M vs prior-year profit weighed on print.
Reg FD/other event disclosure with exhibits; non-earnings corporate update.
1047 tracked peers · median
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Last 90 days: 0 open-market buys · 1 sale
| 2026-03-30 | Brown Carol N Director | Sell | 5.00K @ $36.33 | $182K |
| 2026-02-27 | Sitomer Harrison PRESIDENT & CIO | Award | 85.5K |