|
|  | |
REIT Comments |
 Go Back |
01/28/2010
REITonAIM announces a new report on SL Green Realty Corp.
SLG $46
Office REIT
Ranking: SELL
SL Green Realty SLG FFO for the fourth quarter of 2010 decreased (16%)
SLG guidance for FFO for 2010 indicates (10%) decline, following (22%) FFO decline for 2009
SLG demand for Manhattan office space may be impacted by high vacancies and space available for sublease
SLG exposure to financial institutions is a focus of investor concern, with new regulations potentially impacting total employment
SLG credit issues with structured investment portfolio may require additional impairments to be recognized during 2010
SLG dividends were reduced (73%) for the third quarter of 2009, in the second dividend reduction for 2009
SLG yield is only 1%
SLG an Office REIT with a portfolio of office properties concentrated in Manhattan
SLG we upgrade to 4 SELL
SLG market cap $3.6 billion
click here |
|