SL Green Realty (SLG)
Market Price (2/18/2026): $39.54 | Market Cap: $2.8 BilSector: Real Estate | Industry: Office REITs
SL Green Realty (SLG)
Market Price (2/18/2026): $39.54Market Cap: $2.8 BilSector: Real EstateIndustry: Office REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% | Weak multi-year price returns2Y Excs Rtn is -41%, 3Y Excs Rtn is -43% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 170% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x, P/EPrice/Earnings or Price/(Net Income) is 109x |
| Low stock price volatilityVol 12M is 37% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% | |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more. | Key risksSLG key risks include its specific concentration as Manhattan's largest landlord amid a challenging market shift to remote work and flight-to-quality [1] and a substantial volume of near-term lease expirations that will require significant renovation costs to re-lease [2]. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% |
| Low stock price volatilityVol 12M is 37% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -41%, 3Y Excs Rtn is -43% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 170% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 25x, P/EPrice/Earnings or Price/(Net Income) is 109x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.3% |
| Key risksSLG key risks include its specific concentration as Manhattan's largest landlord amid a challenging market shift to remote work and flight-to-quality [1] and a substantial volume of near-term lease expirations that will require significant renovation costs to re-lease [2]. |
Qualitative Assessment
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SL Green Realty (SLG) stock has lost about 25% since 10/31/2025 because of the following key factors:
1. Lowered 2026 FFO Guidance.
SL Green Realty significantly lowered its Funds From Operations (FFO) per share guidance for 2026 to a range of $4.40 to $4.70, falling notably short of the analyst consensus estimate of $5.13 to $5.16. This downward revision in future earnings expectations negatively impacted investor sentiment.
2. Shift from Monthly to Quarterly Dividend Payments.
Effective fiscal year 2026, SL Green announced a change in its dividend policy, transitioning from monthly to quarterly payments. While maintaining a cash payment structure, this shift was perceived by some as a move to preserve cash and potentially signaled a more conservative capital allocation or financial flexibility concerns, leading to investor apprehension and analyst predictions of a dividend cut.
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1. Lowered 2026 FFO Guidance.
SL Green Realty significantly lowered its Funds From Operations (FFO) per share guidance for 2026 to a range of $4.40 to $4.70, falling notably short of the analyst consensus estimate of $5.13 to $5.16. This downward revision in future earnings expectations negatively impacted investor sentiment.
2. Shift from Monthly to Quarterly Dividend Payments.
Effective fiscal year 2026, SL Green announced a change in its dividend policy, transitioning from monthly to quarterly payments. While maintaining a cash payment structure, this shift was perceived by some as a move to preserve cash and potentially signaled a more conservative capital allocation or financial flexibility concerns, leading to investor apprehension and analyst predictions of a dividend cut.
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Stock Movement Drivers
Fundamental Drivers
The -22.6% change in SLG stock from 10/31/2025 to 2/17/2026 was primarily driven by a -23.3% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.07 | 39.54 | -22.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 901 | 910 | 1.0% |
| P/S Multiple | 4.0 | 3.1 | -23.3% |
| Shares Outstanding (Mil) | 70 | 70 | 0.0% |
| Cumulative Contribution | -22.6% |
Market Drivers
10/31/2025 to 2/17/2026| Return | Correlation | |
|---|---|---|
| SLG | -22.6% | |
| Market (SPY) | 0.1% | 39.5% |
| Sector (XLRE) | 7.4% | 50.3% |
Fundamental Drivers
The -29.6% change in SLG stock from 7/31/2025 to 2/17/2026 was primarily driven by a -30.1% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 56.15 | 39.54 | -29.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 903 | 910 | 0.8% |
| P/S Multiple | 4.4 | 3.1 | -30.1% |
| Shares Outstanding (Mil) | 70 | 70 | 0.0% |
| Cumulative Contribution | -29.6% |
Market Drivers
7/31/2025 to 2/17/2026| Return | Correlation | |
|---|---|---|
| SLG | -29.6% | |
| Market (SPY) | 8.3% | 37.6% |
| Sector (XLRE) | 6.9% | 45.7% |
Fundamental Drivers
The -38.6% change in SLG stock from 1/31/2025 to 2/17/2026 was primarily driven by a -37.5% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 64.37 | 39.54 | -38.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 847 | 910 | 7.4% |
| P/S Multiple | 4.9 | 3.1 | -37.5% |
| Shares Outstanding (Mil) | 64 | 70 | -8.6% |
| Cumulative Contribution | -38.6% |
Market Drivers
1/31/2025 to 2/17/2026| Return | Correlation | |
|---|---|---|
| SLG | -38.6% | |
| Market (SPY) | 14.5% | 57.4% |
| Sector (XLRE) | 8.6% | 60.8% |
Fundamental Drivers
The 17.2% change in SLG stock from 1/31/2023 to 2/17/2026 was primarily driven by a 15.4% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2172026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.73 | 39.54 | 17.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 814 | 910 | 11.9% |
| P/S Multiple | 2.7 | 3.1 | 15.4% |
| Shares Outstanding (Mil) | 64 | 70 | -9.2% |
| Cumulative Contribution | 17.2% |
Market Drivers
1/31/2023 to 2/17/2026| Return | Correlation | |
|---|---|---|
| SLG | 17.2% | |
| Market (SPY) | 74.2% | 47.6% |
| Sector (XLRE) | 18.8% | 65.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SLG Return | 27% | -51% | 49% | 58% | -29% | -12% | -8% |
| Peers Return | 18% | -36% | 20% | 12% | -22% | -6% | -26% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| SLG Win Rate | 67% | 33% | 58% | 83% | 25% | 0% | |
| Peers Win Rate | 58% | 38% | 50% | 53% | 42% | 20% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SLG Max Drawdown | -5% | -52% | -40% | -6% | -36% | -16% | |
| Peers Max Drawdown | -7% | -40% | -31% | -17% | -33% | -10% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VNO, BXP, ESRT, ARE, KRC. See SLG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/17/2026 (YTD)
How Low Can It Go
| Event | SLG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -76.2% | -25.4% |
| % Gain to Breakeven | 320.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -61.5% | -33.9% |
| % Gain to Breakeven | 160.0% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -31.8% | -19.8% |
| % Gain to Breakeven | 46.5% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -94.4% | -56.8% |
| % Gain to Breakeven | 1696.3% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to VNO, BXP, ESRT, ARE, KRC
In The Past
SL Green Realty's stock fell -76.2% during the 2022 Inflation Shock from a high on 3/29/2022. A -76.2% loss requires a 320.4% gain to breakeven.
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About SL Green Realty (SLG)
SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet. This included ownership interests in 28.6 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.
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The Simon Property Group of New York City offices.
The Public Storage of Manhattan office towers.
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- Office Property Leasing: Leasing commercial office spaces in its New York City properties to generate rental income.
- Property Management: Providing operational, maintenance, and tenant services for its owned commercial real estate portfolio.
- Real Estate Development: Developing and redeveloping commercial office properties to enhance their value and expand its portfolio.
- Real Estate Financing and Investment: Originating and investing in debt and preferred equity interests related to commercial real estate.
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SL Green Realty (SLG) is a commercial real estate investment trust (REIT) primarily focused on owning, managing, and leasing office properties, predominantly in New York City. Therefore, its customers are other companies that lease office space within its portfolio of buildings.
SL Green's tenant base is highly diversified across various industries. According to its annual filings (e.g., 2023 10-K), no single tenant accounted for more than approximately 3.3% of its total revenues for the year ended December 31, 2023. This indicates that there are no "major customers" in terms of significant revenue concentration from a single entity.
Consequently, while there are no individually dominant major customers, its customer base comprises a wide range of prestigious firms across diverse sectors. Examples of the types of companies that lease space from SL Green, illustrating its broad and diversified tenant roster, include:
- Financial services firms such as The Carlyle Group (NYSE: CG), TD Securities (part of Toronto-Dominion Bank, NYSE: TD), and Invesco (NYSE: IVZ).
- Prominent law firms like Greenberg Traurig and McDermott Will & Emery.
- Various technology, media, consulting, and other professional services companies.
These examples represent the diverse nature of SL Green's tenants, rather than indicating major customer concentration from any single company.
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- AECOM (ACM)
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```htmlMarc Holliday, Chairman and Chief Executive Officer
Marc Holliday has served as the Chief Executive Officer of SL Green since 2004 and became the Chairman of the Board in January 2019. He joined the company in 1998 as Chief Investment Officer. Prior to joining SL Green, Mr. Holliday held management positions at the former Victor Capital Group, a real estate investment management firm that managed Capital Trust, a publicly traded real estate mezzanine lender. He also held significant leadership roles at Capital Trust Inc. and Gramercy Capital Corp.
Matthew DiLiberto, Chief Financial Officer
Matthew DiLiberto has been the Chief Financial Officer of SL Green Realty Corp. since January 1, 2015. He joined SL Green in September 2004 and previously served as the Chief Accounting Officer and Treasurer. Before joining SL Green, Mr. DiLiberto was with Chelsea Property Group, a division of Simon Property Group, from June 2000 to 2004, where he served as Controller and Director of Information Management. From August 1998 to June 2000, he worked at Vornado Realty Trust as a Senior Financial Analyst. He began his career as a Business Assurance Associate at Coopers and Lybrand, LLP (now PricewaterhouseCoopers LLP). Mr. DiLiberto was also previously a co-owner of Leavine Family Racing, a motorsports organization.
Andrew W. Mathias, Director and Advisory Role to the CEO (formerly President)
Andrew W. Mathias served as President of SL Green Realty Corp. from 2007 until December 31, 2023, and remains a member of the Company’s Board of Directors, serving in an advisory role to the CEO. He joined SL Green in March 1999 as a Vice President and was promoted to Chief Investment Officer in 2004. Prior to SL Green, Mr. Mathias held various positions with Capital Trust and its predecessor, Victor Capital Group, working on real estate principal investments and advisory transactions. He also worked on the high yield/restructuring desk at Bear Stearns and Co.
Harrison Sitomer, Chief Investment Officer
Harrison Sitomer serves as SL Green's Chief Investment Officer, overseeing the company's investment platform, including acquisitions, dispositions, financings, and joint ventures, along with debt and preferred equity investments. He joined SL Green in 2012 as an intern and has since completed over $8 billion in New York real estate investments.
Steven M. Durels, Executive Vice President, Director of Leasing and Real Property
Steven M. Durels is responsible for marketing, structuring, and negotiating all lease transactions for SL Green Realty Corp. He manages a team of 25 professionals and completes hundreds of leasing transactions annually. Prior to joining SL Green, Mr. Durels served for 16 years as Vice President and Director of Leasing and Management of Helmsley-Spear Inc., where he oversaw all leasing, management, and operations for a 2.5-million-square-foot Manhattan office portfolio.
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The key risks to SL Green Realty's business are:
- Challenges in the Manhattan Office Market: SL Green Realty, as Manhattan's largest office landlord, faces significant risks from shifts to remote work, lower occupancy rates, and evolving tenant demands (a "flight-to-quality" trend). These factors impact leasing stability and the long-term revenue outlook for the company's portfolio of commercial properties.
- Exposure to High Interest Rates and Debt/Refinancing Risks: High interest rates are a continuing concern, leading to persistent high interest expenses. The company's debt may not be well covered by its operating cash flow, indicating potential refinancing challenges or increased financial burden in a rising interest rate environment.
- Significant Lease Expirations and Renovation Costs: A substantial portion of the rentable square footage at SL Green's consolidated properties and unconsolidated joint venture properties is scheduled to expire by the end of 2029. This creates a risk of needing to incur significant costs for renovating or redesigning properties to renew existing leases or attract new tenants, especially given changing space utilization trends.
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The clear emerging threat for SL Green Realty (SLG) is the sustained structural shift in demand for traditional office space driven by the widespread adoption of remote and hybrid work models.
This trend, accelerated by recent global events, is fundamentally altering corporate real estate strategies, leading to:
- Reduced office footprints as companies consolidate or downsize their physical space.
- Higher office vacancy rates across major urban centers, including Manhattan.
- Increased pressure on rental rates and lease terms.
- Potential long-term devaluation of existing office assets if demand does not recover to pre-pandemic levels or if properties are not successfully repurposed.
This directly threatens SLG's core business model of owning, managing, and leasing prime office properties by diminishing the primary asset's utility and market value.
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SL Green Realty Corp. (SLG) primarily operates as a real estate investment trust (REIT) focused on the acquisition, management, and development of commercial properties, with a significant emphasis on office and retail spaces in Manhattan, New York City. The company is recognized as Manhattan's largest office landlord. Additionally, SL Green generates revenue through debt and preferred equity investments. The addressable markets for SL Green Realty's main products and services, focused on the Manhattan region, are sized as follows:Manhattan Office Market
New York City, particularly Manhattan, holds the largest office market in North America. As of fiscal year 2025, the total office space across New York City's five boroughs is approximately 730 million square feet, with the vast majority, about 82% or approximately 600 million square feet, located in Manhattan. In fiscal year 2025, Manhattan accounted for 90.2% of all assessed market value in the city. The total office market values across the city grew by about $8.7 billion between fiscal years 2020 and 2025. The total office space in New York City grew to 479.5 million square feet by fiscal year 2021. The median price per square foot for Manhattan office real estate was $706 in Q2 2025, with a sales volume of $1.4 billion for the same quarter.Manhattan Retail Market
While specific overall market size in square footage or total value for the Manhattan retail market is less consistently quantified across the provided search results in the same direct manner as office space, SL Green explicitly states its involvement in owning and managing retail properties in high-traffic areas of Manhattan. Retail leasing activity across Manhattan remained robust in Q3 2025, with over 3.0 million square feet in retail leases executed year-to-date. The asking price for retail property in Manhattan in Q2 2025 was approximately $211.95 per square foot, and the average sale price was $234.96 per square foot.Debt and Preferred Equity Investments
SL Green also engages in debt and preferred equity investments, which management highlighted as a core component of the company's identity and a significant profit driver. The company closed nearly $200 million in Debt and Preferred Equity (DPE) investments over a nine-month period leading up to Q1 2025, with plans for more deals earmarked for their new debt fund. However, a specific overall addressable market size in monetary terms for this segment within the context of their primary real estate operations in Manhattan is not readily available in the provided information.AI Analysis | Feedback
SL Green Realty (SLG) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Increased Occupancy and Rental Rates in Manhattan Office Portfolio: SL Green is focused on increasing occupancy rates within its Manhattan office properties, particularly in its Class A and trophy assets. The company ended 2024 with 92.5% occupancy and projects over 93% leased occupancy for 2025, with a strategic goal of reaching the 95% range to enable higher rental rates and reduced concessions. Strong leasing activity has been a consistent theme, with 1.9 million square feet leased year-to-date in Q3 2025, aiming to exceed 2 million square feet by year-end. The average rent on Manhattan office leases signed in Q3 2025 was $92.81 per rentable square foot.
- Growth and Deployment of the Opportunistic Debt and Preferred Equity (DPE) Investment Platform: SL Green is actively expanding its opportunistic debt and preferred equity investment platform, which management has highlighted as a significant source of profit. The company has been closing commitments for its Opportunistic Debt Fund, expecting it to reach over $1 billion, providing substantial capital for new investment opportunities. Performance in this segment has been strong, with a $90 million profit generated from a mortgage investment at 522 Fifth Avenue in Q2 2025, contributing to an upward revision of FFO guidance.
- Expansion and Enhanced Revenue from Experiential Assets: The company's experiential asset, SUMMIT One Vanderbilt, continues to perform robustly, becoming a top-attended experience in New York City. Management plans to bring a "premium ticket" offering back online, expecting to generate incremental revenue. Furthermore, SL Green is exploring opportunities to expand the SUMMIT observation deck concept to international locations, which could open new revenue streams.
- Strategic Acquisitions, Redevelopments, and Asset Repositioning: SL Green actively engages in strategic acquisitions and redevelopment projects to enhance its portfolio and drive revenue growth. For example, the company acquired 500 Park Avenue, quickly achieving 100% occupancy, and plans a significant improvement program to increase future rents. Similarly, the acquisition of a partner's 49.9% interest in 100 Park Avenue for $14.9 million, in a building that is 97% leased, demonstrates a focus on consolidating interests in high-performing assets. These initiatives aim to increase net operating income through modernized spaces and higher tenant demand.
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Share Repurchases
- In December 2020, SL Green's board authorized an additional $500 million in share buybacks, increasing the total repurchase program to $3.5 billion.
- The company has strategically used proceeds from asset sales for its share repurchase program, believing its stock price significantly lagged its real financial value.
- From Q1 2020 to Q1 2022, quarterly share repurchases included $219.54 million (Q1 2020), $140.24 million (Q4 2020), $151.16 million (Q1 2022), $80.30 million (Q1 2021), and $74.09 million (Q3 2021).
Share Issuance
- The company conducted sales of common stock in the fiscal year 2025, indicated as a sign of business growth.
Outbound Investments
- In Q1 2025, SL Green acquired 500 Park Avenue for $130 million and purchased a 49.9% stake in 100 Park Avenue for $14.9 million.
- SL Green entered into a contract to purchase Park Avenue Tower (65 East 55th Street) for $730.0 million, with closing anticipated in Q1 2026.
- The company's SLG Opportunistic Debt Fund reached $1 billion in closings, with deployments commencing at approximately $220 million and expected to exceed $400 million by the end of 2025.
Capital Expenditures
- SL Green has been focused on development and redevelopment projects, including One Vanderbilt Avenue, which was ahead of schedule and over $100 million under budget as of June 2020.
- The company plans significant upgrades to properties like 500 Park Avenue to increase rents.
- SL Green's operations encompass property management, acquisitions, financing, development, construction, and leasing.
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Trade Ideas
Select ideas related to SLG.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 06302023 | SLG | SL Green Realty | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 57.1% | 103.0% | -0.9% |
| 12312022 | SLG | SL Green Realty | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -5.3% | 48.7% | -39.9% |
| 03312020 | SLG | SL Green Realty | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 12.1% | 73.6% | -14.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 35.67 |
| Mkt Cap | 4.7 |
| Rev LTM | 1,462 |
| Op Inc LTM | 292 |
| FCF LTM | 743 |
| FCF 3Y Avg | 532 |
| CFO LTM | 894 |
| CFO 3Y Avg | 692 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.1% |
| Rev Chg 3Y Avg | 4.1% |
| Rev Chg Q | 0.3% |
| QoQ Delta Rev Chg LTM | 0.1% |
| Op Mgn LTM | 18.7% |
| Op Mgn 3Y Avg | 21.2% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 41.6% |
| CFO/Rev 3Y Avg | 41.2% |
| FCF/Rev LTM | 34.9% |
| FCF/Rev 3Y Avg | 35.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.7 |
| P/S | 3.1 |
| P/EBIT | 7.6 |
| P/E | 9.9 |
| P/CFO | 6.6 |
| Total Yield | 3.7% |
| Dividend Yield | 2.9% |
| FCF Yield 3Y Avg | 11.2% |
| D/E | 1.6 |
| Net D/E | 1.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -12.2% |
| 3M Rtn | -10.8% |
| 6M Rtn | -18.3% |
| 12M Rtn | -29.3% |
| 3Y Rtn | 1.1% |
| 1M Excs Rtn | -10.2% |
| 3M Excs Rtn | -15.6% |
| 6M Excs Rtn | -24.0% |
| 12M Excs Rtn | -41.0% |
| 3Y Excs Rtn | -68.9% |
Price Behavior
Price Behavior
| Market Price | $39.54 | |
| Market Cap ($ Bil) | 2.8 | |
| First Trading Date | 08/15/1997 | |
| Distance from 52W High | -38.9% | |
| 50 Days | 200 Days | |
| DMA Price | $44.96 | $53.17 |
| DMA Trend | down | down |
| Distance from DMA | -12.1% | -25.6% |
| 3M | 1YR | |
| Volatility | 35.5% | 37.5% |
| Downside Capture | 137.83 | 138.27 |
| Upside Capture | 47.29 | 75.64 |
| Correlation (SPY) | 43.6% | 57.4% |
SLG Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.11 | 1.06 | 1.18 | 1.10 | 1.10 | 1.48 |
| Up Beta | 0.84 | 2.51 | 1.06 | 1.33 | 1.00 | 1.26 |
| Down Beta | 1.65 | 1.87 | 1.91 | 1.48 | 1.29 | 1.55 |
| Up Capture | 35% | -2% | 37% | 38% | 66% | 361% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 21 | 29 | 58 | 120 | 379 |
| Down Capture | 116% | 55% | 124% | 127% | 117% | 110% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 20 | 32 | 66 | 129 | 371 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SLG | |
|---|---|---|---|---|
| SLG | -35.9% | 37.4% | -1.11 | - |
| Sector ETF (XLRE) | 6.5% | 16.5% | 0.21 | 60.9% |
| Equity (SPY) | 13.0% | 19.4% | 0.51 | 57.4% |
| Gold (GLD) | 67.2% | 25.5% | 1.99 | -1.4% |
| Commodities (DBC) | 5.2% | 16.8% | 0.13 | 23.4% |
| Real Estate (VNQ) | 7.8% | 16.6% | 0.28 | 66.4% |
| Bitcoin (BTCUSD) | -28.8% | 44.9% | -0.62 | 27.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SLG | |
|---|---|---|---|---|
| SLG | -3.2% | 43.2% | 0.06 | - |
| Sector ETF (XLRE) | 6.1% | 19.0% | 0.23 | 62.1% |
| Equity (SPY) | 13.3% | 17.0% | 0.62 | 49.4% |
| Gold (GLD) | 21.3% | 17.1% | 1.02 | 7.8% |
| Commodities (DBC) | 10.2% | 18.9% | 0.42 | 15.7% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.19 | 67.4% |
| Bitcoin (BTCUSD) | 8.2% | 57.2% | 0.36 | 19.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SLG | |
|---|---|---|---|---|
| SLG | -2.2% | 41.8% | 0.09 | - |
| Sector ETF (XLRE) | 8.3% | 20.4% | 0.36 | 65.4% |
| Equity (SPY) | 15.8% | 17.9% | 0.76 | 53.8% |
| Gold (GLD) | 14.8% | 15.6% | 0.79 | 2.9% |
| Commodities (DBC) | 8.0% | 17.6% | 0.37 | 21.2% |
| Real Estate (VNQ) | 6.8% | 20.7% | 0.29 | 70.2% |
| Bitcoin (BTCUSD) | 68.5% | 66.7% | 1.08 | 13.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/29/2026 | 2.2% | ||
| 10/16/2025 | -2.3% | -3.9% | -10.4% |
| 7/17/2025 | -1.8% | -3.2% | -11.1% |
| 4/17/2025 | -4.1% | 3.7% | 12.1% |
| 1/23/2025 | 0.3% | 1.1% | -3.2% |
| 10/17/2024 | 4.8% | 3.1% | 1.0% |
| 7/18/2024 | -0.0% | 3.9% | 5.1% |
| 4/18/2024 | 2.2% | 4.9% | 9.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 13 |
| # Negative | 12 | 11 | 11 |
| Median Positive | 2.2% | 4.1% | 6.8% |
| Median Negative | -2.0% | -3.3% | -5.7% |
| Max Positive | 6.2% | 19.0% | 26.8% |
| Max Negative | -4.1% | -10.2% | -19.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Holliday, Marc | PRESIDENT & CEO | Direct | Sell | 12292025 | 44.40 | 22,223 | 986,701 | 430,576 | Form |
| 2 | Levine, Andrew S | CHIEF LEGAL OFFICER & GC | Direct | Sell | 12232025 | 45.27 | 1,493 | 67,588 | 318,938 | Form |
| 3 | Brown, Carol N | Direct | Sell | 9122025 | 63.09 | 937 | Form | |||
| 4 | Brown, Carol N | Direct | Sell | 7182025 | 60.61 | 2,500 | 151,525 | 56,792 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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