SL GREEN REALTY CORP
In the published model solve dated 2026-Q2, anchored at $54.85, SL GREEN REALTY CORP (SLG) is priced for today's economics sustained for ~15.1 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• SL Green is Manhattan office concentrated to the point of purity, and the recovery is measurable: a record 929,264 square feet of Q1 2026 leasing at $105.12 average starting rents, 16.1% above prior escalated rents, with occupancy at 94.4% and guided to 95%. • The biggest risk is cash coverage: fiscal 2025 dividends ran about 213% of adjusted funds from operations and the board cut the 2026 dividend to $2.47, while the price still pays about 30 times trailing adjusted cash earnings, the top o
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312 institutional managers reported holding SLG in 13F filings for the quarter ended 2026-03-31. 46 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 10.9M shares were sold short as of the 2026-06-15 count, about 15% of shares outstanding (8.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SLG's share count grew 5.6% over the past five years even with $313.93M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting); the current rate is $3.09 a share annually. Cash returned over the past three years: $580.22M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at SLG over the trailing three years. Absence is a fact about the company, not a signal. 6 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SLG's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -2.5% | -7.7% |
| 2023-11-07 | -8.8% | +38.5% |
| 2024-02-24 | -1.7% | +8.5% |
| 2024-05-07 | -0.2% | +11.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SLG's latest 8-K filings: 2026-07-23 (items 2.02, 7.01, 9.01); 2026-06-02 (items 5.07); 2026-04-16 (items 2.02, 7.01, 9.01); 2026-03-06 (items 1.01, 3.02, 9.01); 2026-03-04 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.