SL Green Realty Corp (SLG · NYSE)

SL Green heads into its October 21 earnings report after raising full-year 2026 FFO guidance to $5.60–$5.90 per share following a Q2 beat ($1.43 vs. $1.19 estimated), though the stock has slipped 7.6% over the past month to $48.41 with RSI at 28. Revenue rose 27.3% year over year to $998.0 million TTM, but earnings fell 98.2% and the company posted negative operating cash flow of $89.6 million in the quarter ended June 30, against total debt of $5.17 billion at 14.5x EBITDA. Q2 showed sequential improvement, with revenue of $264.0 million and EBITDA of $266.1 million versus $60.7 million EBITDA the prior quarter, and Manhattan office occupancy reached 94.7% alongside a high-priced lease expansion at One Vanderbilt. Analysts' target stands at $58.50, 20.8% above the last close, while leverage remains elevated and profit margin sits at negative 16.7%.