SL Green Realty’s Investor Day Review

Deutsche Bank analysts provided their key takeaways from SL Green Realty Corp. (NYSE:SLG) Investor Day. Management delivered a detailed update on the NYC leasing, financing, transaction and expense environment while highlighting recent and future investment projects from its robust development pipeline.

Among the key takes from the event, Deutsche Bank analysts highlighted: (1) Robust 2023 disposition pipeline to fund debt repayments/deleveraging, (2) Balance sheet protection with liquidity ($1.1 billion for 2022 liquidity to $1.5 billion for 2023) and interest rate swaps, (3) 100% of 2023 FAD to be paid out in dividends. (4) Day-to-day office occupancy remains low, hovering around 60% of pre-pandemic levels, and (5) Emphasized SUMMIT outperformance with over 1.5 million guests and $91 million in revenues projected for the first year.