SL Green Realty Corp Q2 2026 Results

SL Green Realty Corp (NYSE:SLG) announced its second‑quarter 2026 financial results, which triggered a 4.5% decline in the stock during after‑hours trading on Wednesday, 23 July 2026, despite an upward revision of full‑year guidance.

The company recorded a net loss attributable to common stockholders of $0.38 per share, outperforming the analyst consensus estimate of $0.59 per share. Revenue for the quarter totaled $171.85 million, falling short of the consensus forecast of $180.3 million. Funds from Operations (FFO) were $1.43 per share, compared with $1.63 per share in the same quarter last year, the prior figure having included $0.61 per share of income from the resolution of a commercial mortgage investment.

Guidance Updates

SL Green raised its 2026 FFO guidance range from $4.40‑$4.70 to $5.60‑$5.90 per share. The midpoint of $5.75 represents a $1.20 per share increase, attributed to $0.40 per share of higher net operating income from its real‑estate portfolio and $0.80 per share of additional income from the One Vanderbilt Avenue asset. Net‑income guidance for 2026 was also upgraded from a range of ‑$0.27‑$0.03 per share to $0.20‑$0.50 per share.

Manhattan Portfolio Performance

Manhattan same‑store cash net operating income (NOI) rose 4.3% in the quarter, excluding lease‑termination income, relative to the same period in 2025. The landlord signed 53 new Manhattan office leases covering 445,161 sq ft, with the mark‑to‑market rent on these leases 18.0% higher than the previous fully escalated rents. Same‑store office occupancy in Manhattan increased to 94.7% as of 30 June 2026, inclusive of leases signed but not yet commenced, and the company expects occupancy to reach 95.0% by year‑end.

Asset Transactions

During the quarter, SL Green completed the sale of the residential and retail components of 7 Dey Street for $222.6 million. It also disposed of a 49.0% joint‑venture interest in 346 Madison Avenue at a gross valuation of $175.0 million. Additionally, the company entered into a contract to sell 10 East 53rd Street for $312.2 million, with the transaction slated to close in the third quarter of 2026.