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GlobeNewswire·

SL Green Realty Corp. Reports First Quarter 2026 EPS of ($1.20) Per Share; and FFO of $0.84 Per Share

SLG
  • SL Green Realty Corp. reported a net loss attributable to common stockholders of $1.20 per share for Q1 2026, compared to $0.30 per share in Q1 2025.
  • Funds from operations (FFO) were $0.84 per share for Q1 2026, down from $1.40 per share in Q1 2025 which included $25.0 million in income from a commercial mortgage investment resolution.
  • The company reaffirmed its 2026 FFO guidance range of $4.40 to $4.70 per share, with a midpoint of $4.55 per share.
  • 51 Manhattan office leases totaling 929,264 square feet were signed in Q1 2026, marking the highest first-quarter volume in the company's 28-year history.
  • Mark-to-market rents on signed Manhattan office replacement leases were 16.1% higher than previous fully escalated rents on those same spaces.
  • Manhattan same-store cash net operating income (NOI) increased 2.6% in Q1 2026 compared to the prior year period, excluding lease termination income.
  • Manhattan same-store office occupancy rose to 94.4% as of March 31, 2026, with an expectation to reach 95.0% by December 31, 2026.
  • The company entered a contract to sell the residential & retail components of 7 Dey Street for $222.6 million, with closing expected in Q2 2026.
  • The company closed on the sale of 690 Madison Avenue for $54.5 million alongside a joint venture partner.
  • A $1.65 billion, five-year, fixed-rate refinancing of One Madison Avenue was completed at a 5.81% interest rate.
  • The company refinanced, extended, & reduced costs on $2.0 billion of its $2.4 billion corporate credit facility, extending the revolving line to June 2031 & bifurcating the term loan.
  • The board established an annual ordinary dividend of $2.47 per share for 2026, with a Q1 payment of $0.6175 per share declared & paid on April 15, 2026.
  • SL Green held interests in 55 buildings totaling 30.8 million square feet as of March 31, 2026.