SL Green Q1 2021 Earnings Report

Reported a net loss attributable to common stockholders of $(0.11) per share and FFO of $1.73 per share.

Key Takeaways

SL Green Realty Corp. reported a net loss attributable to common stockholders of $(7.5) million, or $(0.11) per share, for the quarter ended March 31, 2021, compared to net income of $114.8 million, or $1.51 per share, for the same quarter in 2020. FFO for the quarter ended March 31, 2021, was $128.3 million, or $1.73 per share, compared to $172.0 million, or $2.08 per share, for the same period in 2020.

Net loss attributable to common stockholders of $(0.11) per share for Q1 2021, compared to $1.51 per share for the same period in 2020.

FFO of $1.73 per share for Q1 2021, including $0.14 per share of lease termination income, compared to $2.08 per share for the same period in 2020.

Repurchased/redeemed 1.5 million shares of common stock and OP units in 2021, bringing total repurchases/redemptions to 34.1 million shares/units.

Signed 21 Manhattan office leases covering 352,752 square feet in Q1 2021, with a mark-to-market 2.8% lower than previous rents.