SL Green Raises 2026 FFO Guidance to $5.60-$5.90 on Strong Leasing and Occupancy Gains
SLG sits 38% above its 52-week low of $34.77.
Summary
SL Green reported Q2 FFO of $1.43 per share, down from $1.60 a year ago due to a one-time gain in the prior period, but underlying operating performance was strong. Manhattan same-store cash NOI rose 4.3%, driven by higher rental revenue and occupancy reaching 94.7%. Leasing spreads were robust, with new office leases signed at rents 18% above previous fully escalated rents on the same spaces. The company raised its full-year 2026 FFO guidance to $5.60-$5.90 per share from $4.40-$4.70, and net income guidance to $0.20-$0.50 from a prior range of a loss of $0.27 to a gain of $0.03. The guidance raise reflects higher expected NOI and income from One Vanderbilt. This is a material positive revision that signals accelerating fundamentals in the Manhattan office portfolio, which should drive upward estimate revisions and support the stock.
At the time of this announcement, SLG was trading at $47.87 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $34.77 to $66.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.