SL Green Realty Corp

Valuation Analysis

About the Company

SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT. It focuses primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of March 31, 2026, SL Green held interests in 55 buildings totaling 30.8 million square feet which included ownership interests in 29.4 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 3 buildings totaling 0.8 million square feet owned by third parties. SL Green Realty Corp. was incorporated in 1980 in Maryland and is based in New York.

SL Green Realty Corp Stock at a Glance

SL Green Realty Corp (SLG) is currently trading at $51.15 with a market capitalization of $3.9B. The 52-week range spans from $34.77 to $66.37; the current price is 22.9% below the yearly high. Year-over-year revenue growth stands at -4.0%.

💰 Dividend

SL Green Realty Corp pays an annual dividend of $2.68 per share, representing a yield of 5.24%. The payout ratio stands at 15375%. The elevated payout ratio reflects a mature dividend policy.

📊 Analyst Rating

18 analysts rate SL Green Realty Corp (SLG) on consensus: Buy. The average price target is $48.06, implying -6.05% from the current price. Analyst price targets range from $36.00 to $70.00.

SL Green Realty Corp: The Investment Case in Detail

SL Green Realty Corp (SLG) operates in the Real Estate — specifically REIT - Office — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bear Case

Revenue is contracting at -4% year-over-year — until that trend reverses, valuation is exposed to further downgrades. Net margins remain negative, meaning every euro of revenue is still producing losses — the path to profitability is the central question for shareholders. Short interest sits at 21.06% of float — a meaningful contingent of professionals is positioned for the share to fall, which deserves attention even if their thesis may turn out to be wrong.

Valuation in Context

The PEG ratio at 1.3 sits in the reasonable zone — the price tag is roughly aligned with the company's growth profile, neither punishing nor euphoric. The EV/EBITDA multiple of 30.91x reflects rich expectations — historically, multiples at this level have proven hard to maintain for more than a few quarters.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

The price is in a transition zone relative to the moving averages — no clear signal.

Risk Profile

The data points to above-average price swings, elevated short interest (21.06%), higher leverage relative to equity.

Trading Data

💵 Dividend Info

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