Sl Green Realty Corp (SLG) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Sl Green Realty Corp
Ticker: SLG CIK: 1040971

Exhibit 99.1

CONTACT

Matt DiLiberto

Chief Financial Officer

(212) 594-2700

SL GREEN REALTY CORP. REPORTS FIRST QUARTER 2018 EPS OF $1.12 PER SHARE; AND FFO OF $1.66 PER SHARE

Financial and Operating Highlights


•	Net income attributable to common stockholders of $1.12 per share for the first quarter as compared to $0.11 per share for the same period in 2017.


•	FFO of $1.66 per share for the first quarter as compared to $1.57 per share for the same period in 2017.


•	Same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, increased 7.4% for the first quarter as compared to the same period in the prior year.


•	Signed 28 Manhattan office leases covering 375,813 square feet in the first quarter. The mark-to-market on signed Manhattan office leases was 10.4% higher for the first quarter over the previously fully escalated rents on the same spaces. Manhattan same store occupancy was 95.6% as of March 31, 2018, inclusive of leases signed but not yet commenced.


•	Signed a 15-year lease, initially covering four contiguous floors, with Greenberg Traurig to relocate the center of its New York operations to One Vanderbilt Avenue.


•	Signed 19 Suburban office leases covering 157,485 square feet in the first quarter. The mark-to-market on signed Suburban office leases was 1.4% higher for the first quarter over the previously fully escalated rents on the same spaces.

Investing Highlights


•	In 2018, the Company repurchased 3.9 million shares of common stock under the previously announced $1.5 billion share repurchase plan, at an average price of $97.00 per share. To date, the Company has acquired 12.3 million shares of its common stock under the program at an average price of $100.16 per share.


•	Together with our joint venture partner, entered into a contract to sell the leasehold office condominium at 1745 Broadway in Manhattan for a sale price of $633 million, or $939 per square foot. The transaction is expected to close in the second quarter of 2018 and generate net proceeds to the Company of approximately $126.0 million.


•	Closed on the previously announced sale of 600 Lexington Avenue at a gross sale price of $305.0 million, or $1,005 per square foot. The sale generated net proceeds of $290.4 million and the Company recognized a gain on sale of $23.8 million.

The following information was filed by Sl Green Realty Corp (SLG) on Thursday, April 19, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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