SL Green posts Q3 profit beat and lifts 2026 FFO guidance on strong leasing and JV sale
SL Green Realty Corp. reported third‑quarter 2026 net income of $1.01 per share, up from $0.34 a year earlier, and funds from operations (FFO) of $1.59 per share. The REIT raised its full‑year 2026 FFO outlook to $6.50‑$6.70 per share, citing a $1.10 per share gain from the sale of a 20% joint‑venture stake in its food‑and‑beverage business and offsetting a $0.25 per share headwind from higher interest rates. Manhattan leasing activity was robust, with 38 new leases covering 591,108 sq ft and average rents 13.6% above prior fully escalated levels, pushing same‑store occupancy to 95%.
Why it matters
The company’s guidance lift signals higher expected cash flow for investors and may support the stock price, as noted by the market reaction of a 5‑6% share rise. The higher occupancy and rent growth suggest continued demand for Manhattan office space, which could improve future earnings.
Key facts
- 1Net income attributable to common stockholders was $1.01 per share for Q3 2026, versus $0.34 per share in Q3 2025. stocktitan.net
- 2Funds from operations (FFO) were $1.59 per share for Q3 2026, compared with $1.58 per share in Q3 2025. stocktitan.net
- 3The 2026 FFO guidance was increased to $6.50‑$6.70 per share, up from the prior range of $5.60‑$5.90 per share. stocktitan.net
- 4The guidance increase reflects $1.10 per share of incremental income from the sale of a 20% joint‑venture interest in a food‑and‑beverage operation. stocktitan.net
- 5Higher interest rates are expected to reduce guidance by $0.25 per share. stocktitan.net
- 6Manhattan same‑store office occupancy reached 95.0% as of September 30 2026. stocktitan.net
Summary written by AlphAI AI Desk from 9 of 9 sources. Not investment advice. Figures are as stated by the linked sources.