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Sep 30, 2021
SL Green Q3 2021 Earnings Report
Reported earnings per share (EPS) of $5.75 and funds from operations (FFO) of $1.78 per share.
Key Takeaways
SL Green Realty Corp. reported a strong third quarter in 2021, with net income attributable to common stockholders of $5.75 per share, compared to $0.19 per share in the same period of 2020. FFO was $1.78 per share, compared to $1.75 per share for the same period in 2020. The Company is revising its 2021 earnings guidance ranges, resulting in an increase to the midpoint of those ranges, for the year ending December 31, 2021 to net income per share of $7.21 to $7.41 and FFO per share of $6.45 to $6.65.
Net income attributable to common stockholders was $5.75 per share for Q3 2021, compared to $0.19 per share for the same period in 2020, including net gains from real estate sales and fair value adjustments.
Funds from operations (FFO) reached $1.78 per share in Q3 2021, including lease termination income, compared to $1.75 per share in the same period in 2020, which included net proceeds from a legal settlement.
The company revised its 2021 earnings guidance, increasing the midpoint of the ranges for net income per share to $7.21 to $7.41 and FFO per share to $6.45 to $6.65.
Signed 44 Manhattan office leases covering 445,453 square feet in Q3 2021, with a mark-to-market on signed Manhattan office leases was 1.8% lower.
SL Green
SL Green
SL Green Revenue by Segment
Revenue by Segment
Escalation & Reimb. Revenue
CapyFin.comInvestment Income Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
The Company is revising its earnings guidance ranges, resulting in an increase to the midpoint of those ranges for the year ending December 31, 2021 to net income per share of $7.21 to $7.41, and FFO per share of $6.45 to $6.65.
Positive Outlook
- Increased net income per share guidance to a range of $7.21 to $7.41.
- Increased FFO per share guidance to a range of $6.45 to $6.65.
- Revised earnings guidance reflects confidence in the company's performance.
- The company anticipates continued strong performance through the end of the year.
- Increased guidance suggests positive outlook.
Challenges Ahead
- No specific negative factors were mentioned in the provided context.
- The company faces risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole
- Risks and uncertainties described in the company's filings with the Securities and Exchange Commission.
- Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control.
- Actual results, performance or achievements may be materially different from future results, performance or achievements expressed or implied by forward-looking statements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income