--- title: "SL Green Realty | 8-K: FY2026 Q2 Revenue: USD 264 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293652015.md" datetime: "2026-07-23T17:48:27.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293652015.md) - [en](https://longbridge.com/en/news/293652015.md) - [zh-HK](https://longbridge.com/zh-HK/news/293652015.md) --- # SL Green Realty | 8-K: FY2026 Q2 Revenue: USD 264 M Revenue: As of FY2026 Q2, the actual value is USD 264 M. EPS: As of FY2026 Q2, the actual value is USD -0.38, beating the estimate of USD -0.5391. EBIT: As of FY2026 Q2, the actual value is USD 57.43 M. ### Financial Performance Highlights #### Net Loss Attributable to Common Stockholders - For Q2 2026, SL Green Realty Corp. reported a net loss of -$26.5 million, or -$0.38 per share, compared to a net loss of -$11.1 million, or -$0.16 per share, for Q2 2025. - For the six months ended June 30, 2026, the net loss was -$110.9 million, or -$1.58 per share, compared to -$32.2 million, or -$0.47 per share, for the same period in 2025. #### Funds from Operations (FFO) - FFO for Q2 2026 was $109.6 million, or $1.43 per share. - This compares to Q2 2025 FFO of $124.5 million, or $1.63 per share, which included $46.6 million (or $0.61 per share) of income related to the repayment of a commercial mortgage investment. - For the six months ended June 30, 2026, FFO was $174.2 million, or $2.26 per share, net of -$4.8 million (or -$0.06 per share) for write-off of unamortized deferred financing costs and inclusive of $2.4 million (or $0.03 per share) of positive non-cash fair value adjustments. - For the six months ended June 30, 2025, FFO was $231.1 million, or $3.03 per share, which included $71.6 million (or $0.94 per share) of income related to the repayment of a commercial mortgage investment, net of -$14.5 million (or -$0.19 per share) of investment reserves and -$4.3 million (or -$0.06 per share) of negative non-cash fair value adjustments. #### Property Operating Metrics (Q2 2026) - Property Operating Revenues were $191,882 thousand. - Property Operating Expenses were -$109,583 thousand. - Property Net Operating Income (NOI) was $82,299 thousand. - Property NOI, including SL Green Realty Corp.’s share of unconsolidated JV Property NOI, was $208,474 thousand. - Manhattan Properties Property NOI was $90,503 thousand. #### Same-Store Cash Net Operating Income (NOI) - Manhattan Same-Store Cash NOI increased by 4.3% year-over-year for Q2 2026, excluding lease termination income. - For the first six months of 2026, Manhattan Same-Store Cash NOI increased by 3.4% year-over-year, excluding lease termination income. #### Investment Activity - SL Green Realty Corp. sold the residential and retail components of 7 Dey Street for a total consideration of $222.6 million, generating net cash proceeds of $23.7 million. - The company also sold a 49.0% joint venture interest in 346 Madison Avenue for a gross valuation of $175.0 million, resulting in net cash proceeds of $94.9 million. - A contract was signed to sell 10 East 53rd Street for $312.2 million, with expected net cash proceeds of approximately $100.0 million for corporate debt repayment, anticipated to close in Q3 2026. - During Q2 2026, $94.7 million was deployed from the SLG Opportunistic Debt Fund, bringing year-to-date deployment to $306.4 million, with total funded capital reaching $517.5 million and $18.9 million repaid. - SL Green Realty Corp. repurchased $14.1 million of common stock in Q2 2026 at an average price of $49.67 per share. #### Dividends - A quarterly ordinary dividend of $0.6175 per share on common stock was declared and paid on July 15, 2026, equivalent to an annualized dividend of $2.47 per share. - A quarterly dividend of $0.40625 per share was declared and paid on July 15, 2026, for the 6.50% Series I Cumulative Redeemable Preferred Stock, equivalent to an annualized dividend of $1.625 per share. #### Debt Metrics (as of June 30, 2026) - Debt service coverage, including SL Green Realty Corp.’s share of unconsolidated JVs, was 1.70x for the trailing 12 months. - Fixed charge coverage, including SL Green Realty Corp.’s share of unconsolidated JVs, was 1.55x for the trailing 12 months. - Consolidated debt totaled $4,549,130 thousand. - SL Green Realty Corp.’s share of unconsolidated JV debt was $5,987,615 thousand. - Total debt, including SL Green Realty Corp.’s share of unconsolidated JV debt, amounted to $10,536,745 thousand. #### Operating and Leasing Activity - In Q2 2026, 53 office leases totaling 445,161 square feet were signed in the Manhattan office portfolio, with an average rent of $93.17 per rentable square foot and an average lease term of 5.8 years. - Tenant concessions in Q2 2026 averaged 4.5 months of free rent and a tenant improvement allowance of $58.77 per rentable square foot. - Replacement leases in Q2 2026 (32 leases, 308,680 square feet) showed an 18.0% increase in average starting rents ($98.42 per rentable square foot) over previous rents. - For the six months ended June 30, 2026, 104 office leases totaling 1,374,425 square feet were signed, with an average rent of $101.25 per rentable square foot and an average lease term of 8.5 years. - Tenant concessions for the six months ended June 30, 2026, averaged 8.8 months of free rent and a tenant improvement allowance of $91.89 per rentable square foot. - Replacement leases for the six months ended June 30, 2026 (66 leases, 975,470 square feet) showed a 16.6% increase in average starting rents ($109.59 per rentable square foot) over previous rents. - Manhattan same-store office occupancy, inclusive of leases signed but not yet commenced, increased to 94.7% as of June 30, 2026, up from 94.4% at the end of the previous quarter and 93.0% at the end of 2025. ### Outlook / Guidance SL Green Realty Corp. increased its 2026 FFO guidance range from $4.40-$4.70 per share to $5.60-$5.90 per share, reflecting an increase of $1.20 per share at the midpoint due to higher NOI and additional income from One Vanderbilt Avenue. The company also raised its 2026 net income guidance range from -$0.27-$0.03 per share to $0.20-$0.50 per share. SL Green Realty Corp. expects to increase Manhattan same-store office occupancy to 95.0% by December 31, 2026. ### Related Stocks - [SLG.US](https://longbridge.com/en/quote/SLG.US.md) ## Related News & Research - [SLG: Raised 2026 FFO guidance as Manhattan leasing and NOI growth drive improved outlook](https://longbridge.com/en/news/293521309.md) - [SL Green Realty Q2 Earnings Call Highlights](https://longbridge.com/en/news/293683528.md) - [Key facts: Hubbell (HUBB) raises 2026 sales to 16%–18%; files 8‑K](https://longbridge.com/en/news/294167258.md) - [Ingredion amends 8-K to name Kenneth Escoe to audit committee](https://longbridge.com/en/news/294254664.md) - [Graham Holdings posts earnings release for Q2 ended June 30, 2026](https://longbridge.com/en/news/294366954.md)