SLG|FFO per share $0.84|Rev $253.1M|FFO $64.6M
SL Green Realty Corp. (NYSE: SLG) posted diluted funds from operations of $0.84 per share for the first quarter of 2026, crushing Wall Street’s consensus estimates. The Manhattan-focused office REIT generated revenue of $253.1M for the quarter, up 5.5% from the $239.8M recorded in Q1 2025, while funds from operations came in at $64.6M.
The company’s Manhattan same-store cash net operating income increased 2.6%. SL Green operated 94 Manhattan same-store office properties at quarter end, maintaining its position as the borough’s largest office landlord amid ongoing shifts in workplace dynamics and office space utilization.
Management projected full-year 2026 adjusted FFO per share in the $4.40 to $4.70 range as the commercial real estate market continues to stabilize. Wall Street analysts remain divided on the stock, with consensus standing at 7 Buy ratings, 9 Hold ratings, and 1 Sell rating. The results come as New York office landlords navigate evolving tenant demand patterns and face pressure to upgrade properties to attract quality tenants in an increasingly competitive leasing environment.
A detailed analysis of SL Green Realty Corp.’s quarter follows shortly on AlphaStreet.
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