SL Green Realty Corp (SLG · NYSE)

SL Green shares fell 10.4% over the past month to $52.08 despite beating Q2 estimates ($1.43 vs. $1.19 expected), with RSI at 27 and volume running 2.5x the 20-day average. The office REIT remains unprofitable on a trailing basis — a -16.7% profit margin, -3.6% ROE, and -$115.0M in free cash flow for the quarter ended June 30 — against heavy leverage of 14.5x debt/EBITDA on $5.17B of total debt. Revenue grew 27.3% YoY to $998.0M TTM, and quarterly EBITDA improved to $266.1M in the June quarter from $60.7M in March. The company continues disposing of NYC assets, including the $226M sale of 110 Greene Street as part of a $2.5B disposition strategy, while brokerages hold an average "Hold" rating with a $56.83 consensus target.