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SLG SL Green Realty

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
SEC CIK
IRS number
133956775

SLG stock data

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Calendar

10 May 21
13 Jun 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
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Apr 21 Levy John S Phantom Stock Units Common Stock Grant Aquire A No No 0 193.264 0 74,609.687
20 Apr 21 Hatkoff Craig M Common Stock Grant Aquire A No No 0 86 0 3,878
20 Apr 21 Dillard Lauren B. Phantom Stock Units Common Stock Grant Aquire A No No 0 469.356 0 24,550.345
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

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

82.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 315 31 +916.1%
Opened positions 290 10 +2800.0%
Closed positions 6 271 -97.8%
Increased positions 13 10 +30.0%
Reduced positions 12 10 +20.0%
13F shares
Current Prev Q Change
Total value 4B 689.57M +480.6%
Total shares 57.17M 11.35M +403.6%
Total puts 827.27K 0 NEW
Total calls 644.2K 0 NEW
Total put/call ratio 1.3
Largest owners
Shares Value Change
Vanguard 10.38M $726.43M NEW
BLK Blackrock 8.14M $569.98M NEW
PGGM Investments 3.67M $256.57M NEW
STT State Street 3.22M $226.11M NEW
DB Deutsche Bank AG - Registered Shares 2.68M $187.77M NEW
TROW T. Rowe Price 2.59M $181.52M -50.7%
Dimensional Fund Advisors 1.36M $94.93M NEW
Confluence Investment Management 1.21M $84.35M +5.7%
Nuveen Asset Management 1.2M $83.94M +31.0%
NTRS Northern Trust 1.11M $77.47M NEW
Largest transactions
Shares Bought/sold Change
Vanguard 10.38M +10.38M NEW
BLK Blackrock 8.14M +8.14M NEW
PGGM Investments 3.67M +3.67M NEW
STT State Street 3.22M +3.22M NEW
DB Deutsche Bank AG - Registered Shares 2.68M +2.68M NEW
TROW T. Rowe Price 2.59M -2.67M -50.7%
Dimensional Fund Advisors 1.36M +1.36M NEW
NTRS Northern Trust 1.11M +1.11M NEW
Geode Capital Management 1.04M +1.04M NEW
Russell Investments 861.59K +861.59K NEW

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
  • The COVID-19 pandemic has caused, and continues to cause, severe disruptions with wide ranging impacts to the global economy and everyday life. Our business, results of operations, liquidity, cash flows, prospects, and our ability to achieve forward-looking targets and expectations could be materially and adversely affected for at least the duration of the COVID-19 pandemic and likely longer. This could also cause significant volatility in the trading prices of our securities. The extent of the impact of the COVID-19 pandemic will depend on future developments, including the duration, severity and spread of the pandemic, health and safety actions taken to contain its spread including vaccination efforts, and how quickly and to what extent normal economic and operating conditions can resume. Additionally, the COVID-19 pandemic could increase the magnitude of many of the other risks described in our latest Annual Report on Form 10-K and our other SEC filings and may have other adverse effects on our operations that we are not currently able to predict.
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