SL Green Realty (SLG) Reports Q2 FFO of $1.78

SL Green Realty (NYSE: SLG) reported Q2 EPS of $1.78, versus $3.39 reported last year.

• Net income attributable to common stockholders of $0.08 per share for the second quarter as compared to $1.33 per share for the same period in 2016. Net income attributable to common stockholders for the second quarter of 2016 includes $75.2 million, or $0.72 per share, of income related to 388-390 Greenwich Street, which was sold in the second quarter of 2016.
• FFO of $1.78 per share for the second quarter compared to $3.39 per share for the same period in 2016. FFO for the second quarter of 2017 included $9.4 million, or $0.09 per share, of previously unrecognized income on the Company’s preferred equity investment in 885 Third Avenue and $10.3 million, or $0.10 per share, of net fees related to the closing of the One Vanderbilt joint venture. FFO for the second quarter of 2016 included $185.8 million or $1.77 per share, of income related to 388-390 Greenwich Street, which was sold in the second quarter of 2016.
• Same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, increased 0.6% for the first six months of 2017, or 1.4%, excluding the effect of lease termination income, as compared to the same period in the prior year. The Company is reaffirming its full-year 2017 same store cash NOI guidance range of 2.0% - 3.0%.
• Signed 45 Manhattan office leases covering 314,399 square feet in the second quarter and 89 Manhattan office leases covering 660,744 square feet in the first six months of 2017. The mark-to-market on signed Manhattan office leases was 13.2% higher for the second quarter and 17.5% higher for the first six months over the previously fully escalated rents on the same spaces.
• Signed 21 Suburban office leases covering 159,581 square feet in the second quarter and 47 Suburban office leases covering 305,838 square feet in the first six months of 2017. The mark-to-market on signed Suburban office leases was 7.1% higher for the second quarter and 4.7% higher for the first six months over the previously fully escalated rents on the same spaces.
• Manhattan same-store occupancy, inclusive of leases signed but not yet commenced, was 94.9% as of June 30, 2017. Suburban same-store occupancy, inclusive of leases signed but not yet commenced, was 85.1% as of June 30, 2017.

For earnings history and earnings-related data on SL Green Realty (SLG) click here.

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• EQT Corp. (EQT) Tops Q1 EPS by 17c; offers outlook
• Texas Instruments (TXN) jumps as on earnings, revenue beat in fiscal Q1