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SLG SL Green Realty

SL Green Realty Corp. is a real estate investment trust that primarily invests in office buildings and shopping centers in New York City. As of December 31, 2019, the company owned 43 properties comprising 14,438,964 square feet. Notable properties owned by the company are One Astor Plaza, One Vanderbilt, 461 Fifth Avenue, 810 Seventh Avenue, 919 Third Avenue, the Pershing Square Building, and Random House Tower. The company's predecessor, S.L. Green Properties, Inc., was formed in 1980 by Stephen L. Green.

Company profile

SLG stock data

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Calendar

25 Feb 21
12 Apr 21
31 Dec 21
Quarter (USD)
Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
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Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Feb 21 Marc Holliday 6.50% Series I Cumulative Redeemable Preferred Stock Buy Aquire P No No 25.33 18,707 473.85K 111,473
25 Feb 21 Marc Holliday 6.50% Series I Cumulative Redeemable Preferred Stock Buy Aquire P No No 25.22 636 16.04K 92,766
16 Feb 21 Andrew W Mathias Common Stock Sell Dispose S No No 65 12,836 834.34K 106,133.07
12 Feb 21 Andrew W Mathias Common Stock Sell Dispose S No No 65.09 89,498 5.83M 118,969.07
11 Feb 21 Andrew W Mathias Common Stock Sell Dispose S No No 65 5,928 385.32K 208,467.07
9 Feb 21 Andrew W Mathias LTIP Units Common Stock Sale back to company Dispose D No No 65.19 139,708 9.11M 815,001
9 Feb 21 Andrew S Levine LTIP Units Common Stock Sale back to company Dispose D No No 65.19 25,000 1.63M 162,135
9 Feb 21 Matthew J. DiLiberto LTIP Units Common Stock Sale back to company Dispose D No No 65.19 13,500 880.07K 79,151

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

87.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 278 292 -4.8%
Opened positions 59 36 +63.9%
Closed positions 73 60 +21.7%
Increased positions 77 97 -20.6%
Reduced positions 108 126 -14.3%
13F shares
Current Prev Q Change
Total value 3.64B 3.35B +8.8%
Total shares 60.66M 72.18M -16.0%
Total puts 730.66K 520.6K +40.4%
Total calls 1.21M 629.7K +92.7%
Total put/call ratio 0.6 0.8 -27.2%
Largest owners
Shares Value Change
Vanguard 11.83M $704.7M -2.4%
BLK Blackrock 6.45M $384.06M +3.9%
TROW T. Rowe Price 5.26M $313.64M -41.5%
STT State Street 4.3M $264.84M -2.6%
DB Deutsche Bank AG - Registered Shares 2.18M $129.88M +72.2%
PGGM Investments 1.96M $117.04M -53.0%
MS Morgan Stanley 1.77M $105.24M -50.3%
Dimensional Fund Advisors 1.53M $91.02M -2.6%
Geode Capital Management 1.45M $86.5M -4.9%
IVZ Invesco 1.32M $78.57M +10.8%
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 5.26M -3.74M -41.5%
PGGM Investments 1.96M -2.21M -53.0%
MS Morgan Stanley 1.77M -1.78M -50.3%
Norges Bank 1.24M +1.24M NEW
Confluence Investment Management 0 -1.23M EXIT
Citadel Advisors 27.39K -1.16M -97.7%
DB Deutsche Bank AG - Registered Shares 2.18M +914.05K +72.2%
Nuveen Asset Management 0 -707.2K EXIT
PUKPF Prudential 1.06M -704.45K -39.8%
JHG Janus Henderson 0 -609K EXIT

Financial report summary

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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.
  • 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 after 2021 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, 2019 and still owned by us in the same manner at December 31, 2020 (Same-Store Properties totaled 28 of our 38 consolidated operating properties),
  • ii.“Acquisition Properties,” which represents all properties or interests in properties acquired in 2020 and 2019 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 2020 and 2019, and
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