SL Green reports 95% occupancy, $0.25 EPS hit and $7 bn refinancings in Q3 2026
SL Green Realty Corp announced that its Q3 2026 leased occupancy reached 95% and rent growth was about 15%. The company completed more than $7 billion of refinancings and sold a portion of its hospitality platform for $40 million. Higher interest rates reduced earnings by $0.25 per share, mostly from interest expense. Management expects prime Midtown cap rates to stay in a 5%‑6% range and projects new development rents of $240‑$270 per square foot.
Why it matters
The $0.25 per share earnings drag signals lower near‑term profitability, which could affect SLG's share price and dividend coverage. The $7 billion refinancing strengthens the balance sheet, potentially lowering financing risk for investors.
Key facts
- 1Leased occupancy reached 95% in Q3 2026. gurufocus.com
- 2Mark‑to‑market rents grew roughly 15% year‑over‑year. gurufocus.com
- 3The company completed over $7 billion of refinancings in 2026. gurufocus.com
- 4A portion of the hospitality platform was sold for $40 million at a $200 million valuation. gurufocus.com
- 5Higher interest rates cut earnings by $0.25 per share, with $0.05 from fee income and the remainder from interest expense. gurufocus.com
- 6Management expects prime Midtown cap rates to stay around 5%‑5.5%, up to a maximum of 6%. gurufocus.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.