Reading SLG? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track SLG free→Reading SLG? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track SLG free→NYSEReal EstateReit - OfficeSnapshot 2026-06-12
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral, and earnings quality cannot be assessed as the company was unprofitable over the past year. Risk is elevated, and the sector backdrop is a headwind, with SLG trading below typical levels compared to sector peers. Peer multiples imply a price roughly in line with where it trades (about fair); the read is fair, but weakening. The three-year read suggests that peer multiples imply a price about 44% above where it trades (it looks cheap on this basis). This analysis is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 2 valuation methods, at three horizons. Current price $51.15. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $51 SLG trades at 4× p/s, below its 6× p/s peer median. Our $49 fair value sits above the price; medium confidence. Analysts: $38–$52. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The market is pricing in roughly 4% near-term growth, in line with our forecast of about 1%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated neutral grew net income 53% of the time over the next year (vs 57% for the rest of the cohort, n=1968).
Over the trailing year it converted -0.37x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to real (inflation-adjusted) rates, long-term interest rates, the US dollar, Fed net liquidity.
Not enough signal yet.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $-0.74 → $-1.96 (-163.5% / 30d). 0 raised, 1 cut, 1 covering analysts.
0 upgrades, 0 downgrades / 30d, 2 maintained. 44% of analysts rate Buy.
1 PT revisions / 30d. Avg target 2.6% above current price.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$199.
How much price usually moves either way.
On a bad day, this stock has moved -$364.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $4,540.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: A rise above $150M would confirm effective cost management and support future growth.
Confirms:Operating income exceeds $150M in Q2.
Disproves:Operating income stays below $150M in Q2.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for SLG yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Results of Operations and Financial Condition Following the issuance of a press release on April 15, 2026 announcing SL Green Realty Corp.’s, or the Company, results for the quarter ended March 31, 2026, the Company has made available on its website supplemental information regarding the Company’s operations that is too voluminous for a press release. The Company is attaching the press release as Exhibit 99.1 and the supplemental package as Exhibit 99.2 to this Current Report on Form 8-K. The…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
$38.00 – $52.00 (median $48.00) · 4 analysts · as of 2026-06-08
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Looks cheaper than most peers in the same business.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Office REITs.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
SLG SL Green Realty | Below typical Show detailsSector percentile: 4 of 100 | full | elevated |
BXP BXP, Inc. | Above typical Show detailsSector percentile: 81 of 100 | full | moderate |
ARE Alexandria Real Estate Equities | Typical Show detailsSector percentile: 44 of 100 | inexpensive | elevated |
VNO Vornado Realty Trust | Above typical Show detailsSector percentile: 74 of 100 | inexpensive | moderate |
HPP Hudson Pacific Properties, Inc. | Typical Show detailsSector percentile: 59 of 100 | inexpensive | high |
Not investment advice. As of 2026-06-12.
via XLRE
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-12.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue to maintain dividend payments despite financial challenges.
Focus on improving operating income through cost management and efficiency.
Aim to increase revenue growth through strategic initiatives.
Why it matters: Keeping or raising dividends shows financial strength. This helps build trust with investors.
Confirms:Management says dividends will stay the same or increase next quarter.
Disproves:Management announces a cut or pause in dividends.
Why it matters: Improving operating income is crucial for SL Green's financial health. It affects cash flow and dividends.
Confirms:Operating income increases by more than 10% in the next quarter.
Disproves:Operating income decreases or grows less than 0% in the next quarter.
Why it matters: Better sector performance may mean SL Green's market is getting better.
Confirms one read:Sector performance improves to a positive growth rate in Q2.
Confirms the other:Sector performance continues to decline in Q2.
Why it matters: Occupancy rates impact revenue directly. A drop may show problems in leasing.
Confirms:Occupancy rates were below 90% for Q2.
Disproves:Occupancy rates were above 90% for Q2.
Why it matters: Keeping or raising dividends shows a promise to pay shareholders. This is important after recent cuts.
Confirms:Dividend payment remains at $0.618 or increases in Q2.
Disproves:Dividend payments drop below $0.618 in Q2.
Why it matters: Exceeding 5% growth would show SL Green is improving revenue after a slow start.
Confirms:Q2 revenue growth exceeds 5% year over year.
Disproves:Q2 revenue growth is below 5% year over year.