SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet. This included ownership interests in 28.6 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.

Company profile
Ticker
SLG, SLG-PI
Exchange
Website
CEO
Marc Holliday
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
1 Madison Office Fee LLC • 10 E 53 Owner LLC • 10E53 Partner LLC • 100 Church Fee Owner LLC • 100C Investor LLC • 106 SPRING STREET OWNER LLC • 106 Spring Funding II LLC • 1055 WASHINGTON BOULEVARD LLC • 1080 Amsterdam Green A Member LLC • 1080 Amsterdam Green B Member LLC ...
IRS number
133956775
SLG stock data
Calendar
8 May 22
26 Jun 22
31 Dec 22
Financial summary
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Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
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Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
21 Apr 22 | Dillard Lauren B. | Phantom Stock Units Common Stock | Grant | Acquire A | No | No | 0 | 307.882 | 0 | 30,360.489 |
21 Apr 22 | Levy John S | Phantom Stock Units Common Stock | Grant | Acquire A | No | No | 0 | 172.414 | 0 | 82,189.355 |
21 Apr 22 | Hatkoff Craig M | Common Stock | Grant | Acquire A | No | No | 0 | 77 | 0 | 3,693 |
21 Apr 22 | John H Alschuler JR | Phantom Stock Units Common Stock | Grant | Acquire A | No | No | 0 | 184.729 | 0 | 17,977.208 |
1 Apr 22 | Carol N Brown | Phantom Stock Units Common Stock | Grant | Acquire A | No | No | 0 | 2,894.089 | 0 | 2,894.089 |
Institutional ownership, Q1 2022
81.3% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 297 |
Opened positions | 65 |
Closed positions | 84 |
Increased positions | 85 |
Reduced positions | 136 |
13F shares | Current |
---|---|
Total value | 4.24B |
Total shares | 52.16M |
Total puts | 135.37K |
Total calls | 314.3K |
Total put/call ratio | 0.4 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 9.55M | $775.53M |
BLK Blackrock | 9.16M | $743.88M |
STT State Street | 3.86M | $314.3M |
FMR | 1.75M | $142.09M |
DAVENPORT & Co | 1.5M | $122.22M |
Confluence Investment Management | 1.35M | $109.4M |
Geode Capital Management | 1.32M | $107.36M |
Wellington Management | 1.2M | $97.2M |
Dimensional Fund Advisors | 1.19M | $96.98M |
Nuveen Asset Management | 1.13M | $91.41M |
Financial report summary
?Risks
- The COVID-19 pandemic and health and safety measures intended to reduce its spread could adversely affect our business, results of operations, and financial condition.
- Declines in the demand for office space in the New York metropolitan area, and in particular midtown Manhattan, could adversely affect the value of our real estate portfolio and our results of operations and, consequently, our ability to service current debt and to pay dividends and distributions to security holders.
- We may be unable to renew leases or relet space as leases expire.
- We face significant competition for tenants.
- The expiration of long term leases or operating sublease interests where we do not own a fee interest in the land could adversely affect our results of operations.
- We rely on five large properties for a significant portion of our revenue.
- Our results of operations rely on major tenants and insolvency or bankruptcy of these or other tenants could adversely affect our results of operations.
- Construction is in progress at our development projects.
- We are subject to risks that affect the retail environment.
- We are subject to the risk of adverse changes in economic and geopolitical conditions in general and the commercial office markets in particular.
- Leasing office space to smaller and growth-oriented businesses could adversely affect our cash flow and results of operations.
- We may suffer adverse consequences if our revenues decline since our operating costs do not decline in proportion to our revenue.
- Competition for acquisitions may reduce the number of acquisition opportunities available to us and increase the costs of those acquisitions.
- We face risks associated with property acquisitions.
- Limitations on our ability to sell or reduce the indebtedness on specific properties could adversely affect the value of our common stock.
- Potential losses may not be covered by insurance.
- The occurrence of a terrorist attack may adversely affect the value of our properties and our ability to generate cash flow.
- We face possible risks associated with the natural disasters and the effects of climate change.
- We may incur significant costs to comply with climate change initiatives, and in particular those implemented in New York City.
- There are potential conflicts of interest between us and Stephen L. Green.
- Members of management may have a conflict of interest over whether to enforce terms of agreements with entities which Mr. Green, directly or indirectly, has an affiliation.
- RISKS RELATED TO OUR LIQUIDITY AND CAPITAL RESOURCES
- Debt financing, financial covenants, degree of leverage, and increases in interest rates could adversely affect our economic performance.
- Scheduled debt payments could adversely affect our results of operations.
- Financial covenants could adversely affect our ability to conduct our business.
- Rising interest rates could adversely affect our cash flow.
- The planned phasing out of LIBOR may affect our financial results.
- Failure to hedge effectively against interest rate changes may adversely affect results of operations.
- Increases in our leverage could adversely affect our stock price.
- A downgrade in our credit ratings could materially adversely affect our business and financial condition.
- Debt and preferred equity investments could cause us to incur expenses, which could adversely affect our results of operations.
- Joint investments could be adversely affected by our lack of sole decision-making authority and reliance upon a co-venturer's financial condition.
- Certain of our joint venture agreements contain terms in favor of our partners that could have an adverse effect on the value of our investments in the joint ventures.
- We are dependent on external sources of capital.
- RISKS RELATED TO OUR ORGANIZATION AND STRUCTURE
- We depend on dividends and distributions from our direct and indirect subsidiaries.
- Our charter documents, debt instruments and applicable law may hinder any attempt to acquire us, which could discourage takeover attempts and prevent our stockholders from receiving a premium over the market price of our stock.
- Provisions of our charter and bylaws could inhibit changes in control.
- We have a stock ownership limit.
- Maryland takeover statutes may prevent a change of control of our company, which could depress our stock price.
- Contractual provisions that limit the assumption of certain of our debt may prevent a change in control.
- SL Green's failure to qualify as a REIT would be costly and would have a significant effect on the value of our securities.
- We may incur costs to comply with governmental laws and regulations.
- Compliance with changing or new regulations applicable to corporate governance and public disclosure may result in additional expenses, or affect our operations.
- Our property taxes could increase due to reassessment or property tax rate changes.
- The trading price of our common stock has been and may continue to be subject to wide fluctuations.
- Future issuances of common stock, preferred stock and convertible debt could dilute existing stockholders' interests.
- Changes in market conditions could adversely affect the market price of our common stock.
- Changes to U.S. federal income tax laws could materially and adversely affect us and our stockholders.
- Loss of our key personnel could harm our operations and our stock price.
- Our business and operations would suffer in the event of system failures or cyber security attacks.
- Forward-looking statements may prove inaccurate.
Management Discussion
- i.“Same-Store Properties,” which represents all operating properties owned by us at January 1, 2021 and still owned by us in the same manner as of March 31, 2022 (Same-Store Properties totaled 21 of our 30 consolidated operating buildings),
- ii.“Acquisition Properties,” which represents all properties or interests in properties acquired in 2022 and 2021 and all non-Same-Store Properties, including properties that are under development or redevelopment,
- iii."Disposed Properties," which represents all properties or interests in properties sold in 2022 and 2021, and
Content analysis
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H.S. junior Avg
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New words:
Amsterdam, appealing, conveyed, court, Dey, Eleventh, enhance, Escrow, experiencing, forward, indirect, introduce, monetization, monetize, occurrence, proposal, repositioning, restructuring, roll, SOFR, stabilization, SUMMIT, troubled, upholding, vintage
Removed:
achieve, Authority, Bank, Beekman, borrow, buyer, calculate, captioned, concession, consolidating, economy, enforceable, everyday, exercising, existed, expired, FHLB, FHLBNY, Final, foreclosed, fully, global, Graybar, health, Home, lender, licensed, magnitude, modified, nonaccrual, offer, pandemic, preceding, predict, quickly, recording, redeemed, regulator, repaid, resume, rollforward, schedule, successful, utilized, vaccination, Vermont, wide
Financial reports
Current reports
8-K
Submission of Matters to a Vote of Security Holders
1 Jun 22
8-K
SL Green Realty Corp. Reports And Ffo of $1.65 Per Share
21 Apr 22
8-K
SL Green Names Carol Brown as Independent Director
7 Mar 22
8-K
Results of Operations and Financial Condition
27 Jan 22
8-K
Amendments to Articles of Incorporation or Bylaws
21 Jan 22
8-K
Other Events
11 Jan 22
8-K/A
Departure of Directors or Certain Officers
6 Jan 22
8-K
Departure of Directors or Certain Officers
5 Jan 22
8-K
Entry into a Material Definitive Agreement
22 Dec 21
8-K
Entry into a Material Definitive Agreement
8 Dec 21
Registration and prospectus
S-8
Registration of securities for employees
17 Jun 22
S-3ASR
Automatic shelf registration
17 Dec 21
S-3ASR
Automatic shelf registration
26 Feb 21
S-3ASR
Automatic shelf registration
19 Dec 18
424B5
Prospectus supplement for primary offering
27 Jul 18
FWP
Free writing prospectus
26 Jul 18
424B5
Prospectus supplement for primary offering
26 Jul 18
S-3ASR
Automatic shelf registration
25 Feb 18
424B5
Prospectus supplement for primary offering
26 Oct 17
424B5
Prospectus supplement for primary offering
25 Oct 17
Proxies
DEFA14A
Additional proxy soliciting materials
23 May 22
DEFA14A
Additional proxy soliciting materials
21 Apr 22
DEFA14A
Additional proxy soliciting materials
25 May 21
DEFA14A
Additional proxy soliciting materials
27 Apr 21
DEFA14A
Additional proxy soliciting materials
13 May 20
DEFA14A
Additional proxy soliciting materials
17 May 19
DEF 14A
Definitive proxy
25 Apr 19
Other
UPLOAD
Letter from SEC
21 Jan 21
CORRESP
Correspondence with SEC
20 Jan 21
UPLOAD
Letter from SEC
6 Jan 21
CORRESP
Correspondence with SEC
13 Dec 20
UPLOAD
Letter from SEC
7 Dec 20
UPLOAD
Letter from SEC
10 Jul 17
CORRESP
Correspondence with SEC
6 Jul 17
UPLOAD
Letter from SEC
2 Jul 17
CORRESP
Correspondence with SEC
19 Jun 17
UPLOAD
Letter from SEC
25 May 17
Ownership
4
SL GREEN REALTY / Lauren B. Dillard ownership change
22 Apr 22
4
SL GREEN REALTY / JOHN S LEVY ownership change
22 Apr 22
4
SL GREEN REALTY / CRAIG M HATKOFF ownership change
22 Apr 22
4
SL GREEN REALTY / JOHN H ALSCHULER JR ownership change
22 Apr 22
4
SL GREEN REALTY / Carol N Brown ownership change
5 Apr 22
3
SL GREEN REALTY / Carol N Brown ownership change
14 Mar 22
4
SL GREEN REALTY / Matthew J. DiLiberto ownership change
4 Mar 22
4
SL GREEN REALTY / ANDREW W MATHIAS ownership change
4 Mar 22
4
SL GREEN REALTY / ANDREW S LEVINE ownership change
4 Mar 22
4
SL GREEN REALTY / EDWIN T BURTON III ownership change
22 Feb 22
Transcripts
2021 Q1
Earnings call transcript
23 Apr 21
2020 Q4
Earnings call transcript
29 Jan 21
2020 Q2
Earnings call transcript
23 Jul 20
2020 Q1
Earnings call transcript
23 Apr 20
2019 Q4
Earnings call transcript
23 Jan 20
2019 Q3
Earnings call transcript
17 Oct 19
2019 Q2
Earnings call transcript
18 Jul 19
2019 Q1
Earnings call transcript
18 Apr 19
2018 Q4
Earnings call transcript
24 Jan 19
2018 Q3
Earnings call transcript
18 Oct 18