SL Green Realty
SLG on NYSE. SL Green Realty rents office buildings in New York City to businesses. Market value $3.4bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Real estate stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.
$48.40 a share, 39% above its 1-year low
Over the past year the price has ranged from $34.77 to $60.09.
Dividend: 5.1% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $861m | $919m | $914m | $886m | $1.0bn |
| Operating margin | |||||
| Operating margin | n/a | 65.9% | 65.5% | 82.4% | 65.0% |
| Debt to equity | |||||
| Debt to equity | 0.31 | 0.73 | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.06bn | 0.06bn | 0.07bn | 0.07bn | 0.07bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsShrinking, 1.0% a year
- Buying back its own sharesNo, 11% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $264 million last quarter, up 9% on a year ago.
- A loss of $23 million, compared with a loss of $7 million a year ago.
- It keeps 67 cents of each $1 of sales as operating profit, up from 59 cents a year earlier.
- About the same number of shares as a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $230m |
| December 2024 | $246m |
| March 2025 | $240m |
| June 2025 | $242m |
| September 2025 | $245m |
| December 2025 | $276m |
| March 2026 | $253m |
| June 2026 | $264m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$10m |
| December 2024 | $13m |
| March 2025 | -$17m |
| June 2025 | -$7m |
| September 2025 | $29m |
| December 2025 | -$101m |
| March 2026 | -$81m |
| June 2026 | -$23m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 17 February 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 357 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $11m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| First Manhattan Co.First Manhattan partners | $11m | <0.1% | |
| ValueWorksCharles Lemonides | $10m | 2.1% | New |
Largest holders overall
- BlackRock$707mAdded
- Vanguard Portfolio Management$377m
- Cohen & Steers$323mAdded
- State Street$213m
- Vanguard Capital Management$166m
- Geode Capital Management$104mAdded
- Alyeska Investment Group, L.P.$104mCut
- Goldman Sachs Group$95mCut
- Charles Schwab Investment Management$88mAdded
- Northern Trust$79mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- BlackRock, Inc.Passive investor17.9%Since 31 March 2025
- Vanguard Portfolio ManagementPassive investor10.0%Since 30 January 2026
- Cohen & Steers, Inc.Passive investorat least 8.8%−2.2 pts(filed with 4 related holders)Since 30 June 2026
- STATE STREET CORPORATIONPassive investor5.7%Since 31 March 2026
- Vanguard Capital ManagementPassive investor5.3%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 17.9% | 31 March 2025 | |
Vanguard Portfolio Management Passive investor | 10.0% | 30 January 2026 | |
Cohen & Steers, Inc. Passive investor | at least 8.8%−2.2 pts (filed with 4 related holders) | 30 June 2026 | |
STATE STREET CORPORATION Passive investor | 5.7% | 31 March 2026 | |
Vanguard Capital Management Passive investor | 5.3% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 4 sold $4m.
- Sitomer HarrisonPRESIDENT & CIOSold
- Date
- 21 August 2026
- Shares
- 23,113
- Price
- $57.71
- Value
- $1m
- Sitomer HarrisonPRESIDENT & CIOSold
- Date
- 20 August 2026
- Shares
- 16,887
- Price
- $58.52
- Value
- $988,295
- Brown Carol NDirectorSold
- Date
- 30 March 2026
- Shares
- 5,004
- Price
- $36.33
- Value
- $181,795
- HOLLIDAY MARCPRESIDENT & CEO, DirectorSold
- Date
- 23 December 2025
- Shares
- 22,223
- Price
- $44.40
- Value
- $986,701
- LEVINE ANDREW SCHIEF LEGAL OFFICER & GCSold
- Date
- 22 December 2025
- Shares
- 1,493
- Price
- $45.27
- Value
- $67,588
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 21 August 2026 | Sitomer Harrison PRESIDENT & CIO | Sold | 23,113 | $57.71 | $1m |
| 20 August 2026 | Sitomer Harrison PRESIDENT & CIO | Sold | 16,887 | $58.52 | $988,295 |
| 30 March 2026 | Brown Carol N Director | Sold | 5,004 | $36.33 | $181,795 |
| 23 December 2025 | HOLLIDAY MARC PRESIDENT & CEO, Director | Sold | 22,223 | $44.40 | $986,701 |
| 22 December 2025 | LEVINE ANDREW S CHIEF LEGAL OFFICER & GC | Sold | 1,493 | $45.27 | $67,588 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 1.0% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.