SL Green Realty Corp (SLG) Stock Analysis
Recovery setup
Real Estate · REIT - Office
Sell if holding. Engine safety override at $51.05: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 3.5/10. Specifically: High short interest: 21%; Below-average business quality; Rich valuation.
SL Green is Manhattan's largest owner of office real estate, with 26 consolidated Manhattan commercial properties (~11M sq ft) and interests in 10 unconsolidated joint venture properties. Revenue comes from office tenant rents in midtown Manhattan; five properties (One... Read more
Sell if holding. Engine safety override at $51.05: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 3.5/10. Specifically: High short interest: 21%; Below-average business quality; Rich valuation. Chart setup: Death cross but MACD improving, RSI 82. Score 3.5/10, high confidence.
Passes 5/9 gates (clean insider activity, news events none recent, earnings proximity 37d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio and death cross (50MA < 200MA). Suitability: aggressive.
About SL Green Realty Corp
About SL Green Realty Corp
SL Green Realty Corp.'s portfolio of 26 consolidated and 10 unconsolidated Manhattan office properties totals 24.9 million square feet, with consolidated Manhattan office occupancy at 93.0% and the broader 44-property core portfolio at 92.6% leased at December 31, 2025. The company employs 1,289 people and is organized as a self-managed REIT; its five largest buildings — One Vanderbilt Avenue, 11 Madison Avenue, 420 Lexington Avenue, 1515 Broadway, and 245 Park Avenue — accounted for 36.6% of total Portfolio annualized cash rent at year-end 2025.
SL Green earns revenue from tenant rents, escalations, and reimbursement income on long-term Manhattan office leases, where initial terms typically run 7-15 years with periodic base rent escalations and tenants paying pro-rata increases in real estate taxes and operating expenses over a base year. The company supplements lease income through the SLG Opportunistic Debt Fund LP, concentrated in Manhattan debt and preferred equity investments, and through SUMMIT One Vanderbilt, an observation deck that welcomed approximately 2.2 million visitors in 2025 with Paris expansion targeted for 2027. Consolidated indebtedness totaled $4.0 billion at December 31, 2025 — comprising $1.2 billion in unsecured bank term loans, $2.1 billion in non-recourse mortgages, and $640 million under the revolving credit facility — alongside $12.5 billion in joint venture debt ($5.9 billion SL Green's proportionate share). The tenant base spans financial services (33.6% of 2025 Manhattan leasing volume), legal services (10.3%), and TAMI firms; Paramount Global is the largest single tenant at 5.3% of Portfolio annualized cash rent, with no other tenant exceeding 5.0%.
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SL Green faces a near-term refinancing test: $555.1 million of consolidated mortgage debt and $1.1 billion of unconsolidated joint venture debt is scheduled to mature in 2026 after as-of-right extension options, with refinancing at higher prevailing interest rates representing a principal risk to cash flow. Approximately 46.3% of rentable square feet at consolidated properties is scheduled to expire by December 31, 2030, carrying annualized escalated rent of $316.3 million. Separately, annualized cash rents from properties held through long-term ground leases totaled $225.2 million — 15.9% of total Portfolio annualized cash rent — with those leases expiring between 2043 and 2119 absent exercise of extension rights.
See also: Real Estate · REIT - Office
From SL Green Realty Corp's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-06-15Recent Developments — SL Green Realty Corp
Latest news
- NEWS Evercore ISI Group Maintains Outperform on SL Green Realty, Raises Price Target to $54 — benzinga Jun 15, 2026 positive
- NEWS Wells Fargo Maintains Equal-Weight on SL Green Realty, Raises Price Target to $44 — benzinga Jun 1, 2026 positive
- NEWS SL Green Realty Sells 10 East 53rd Street To Meadow Partners For Total Consideration Of $312.2M — benzinga Jun 1, 2026 positive
- NEWS SL Green Realty To Collaborate On Joint Venture Project Worth $175M With Mori Building — benzinga May 27, 2026 positive
- NEWS Scotiabank Maintains Sector Outperform on SL Green Realty, Raises Price Target to $53 — benzinga May 21, 2026 positive
Generated 2026-06-17T08:26:48Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicManhattan10-K Item 1: 'As of December 31, 2025, our real estate portfolio was principally located in one geographical market, Manhattan, a borough of New York City'
- HIGHPropertyoffice properties10-K Item 1: 'primarily engaged in the ownership, management...of commercial real estate properties, principally office properties, located in the New York metropolitan area, principally in Manhattan'
- HIGHTenanttop 5 properties (One Vanderbilt, 11 Madison, 420 Lexington, 1515 Broadway, 245 Park)37%10-K Item 1A: 'Five of our properties, One Vanderbilt Avenue, 11 Madison Avenue, 420 Lexington Avenue, 1515 Broadway and 245 Park Avenue accounted for 36.6% of our Portfolio annualized cash rent'
Material Events(8-K, last 90d)
- 2026-03-04Item 5.02LOWHarrison Sitomer appointed as President of SL Green Realty Corp. effective Feb 27, 2026, while continuing as Chief Investment Officer. No departure indicated; appointment of additional title.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
5 floor-breakers
Revenue shrinking — -4.0% YoY. Growth thesis broken unless recovery story develops.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Unprofitable operations — net margin -16.2%. Quality floor flags this regardless of sector context.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $51.05: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 3.5/10. Specifically: High short interest: 21%; Below-average business quality; Rich valuation. Chart setup: Death cross but MACD improving, RSI 82. Prior stop was $47.70. Score 3.5/10, high confidence.
Take-profit target: $51.48 (+0.7% upside). Prior stop was $47.70. Stop-loss: $47.70.
Concentration risk — Geographic: Manhattan; Concentration risk — Property Type: office properties; Target reached (-15.4% upside).
SL Green Realty Corp trades at a P/E of N/A (forward -28.2). TrendMatrix value score: 3.0/10. Verdict: Sell.
21 analysts cover SLG with a consensus score of 3.7/5. Average price target: $48.
What does SL Green Realty Corp do?SL Green is Manhattan's largest owner of office real estate, with 26 consolidated Manhattan commercial properties (~11M...
SL Green is Manhattan's largest owner of office real estate, with 26 consolidated Manhattan commercial properties (~11M sq ft) and interests in 10 unconsolidated joint venture properties. Revenue comes from office tenant rents in midtown Manhattan; five properties (One Vanderbilt, 11 Madison, 420 Lexington, 1515 Broadway, 245 Park) represent 36.6% of Portfolio annualized cash rent.