SL Green projects 2026 FFO below analyst estimates, shifts to quarterly dividends

SL Green Realty Corp. (NYSE: SLG) provided 2026 earnings guidance that falls short of analyst expectations during its annual investor conference held December 5, 2025.

The New York-focused real estate investment trust projected funds from operations per share of $4.40 to $4.70 for 2026, below the analyst estimate of $5.13. The company also forecasted net income per share ranging from a loss of $0.27 to a gain of $0.03 for the year ending December 31, 2026.

The FFO guidance includes several adjustments to net income, including $2.58 per share in depreciation and amortization, $3.29 per share in joint ventures depreciation and noncontrolling interests adjustments, and a $0.12 per share net loss attributable to noncontrolling interests.

The company also factored in a $0.80 per share loss on sale of real estate and $1.82 per share in equity gains on sale of interest in unconsolidated joint ventures or real estate.

SL Green announced a change to its dividend policy starting in fiscal year 2026. The company will declare and pay ordinary dividends quarterly instead of monthly, while maintaining cash payments.

The investor conference presentation was made available through webcast on the company's website, with an audio replay and presentation materials accessible following the event.

This information was disclosed in a regulatory filing under Item 7.01 Regulation FD Disclosure and Item 8.01 Other Events.

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