Sl Green Realty Corp (SLG) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

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

THIRD QUARTER 2020 EPS OF $0.19 PER SHARE;

AND FFO OF $1.75 PER SHARE

Financial and Operating Highlights


•	Net income attributable to common stockholders of $0.19 per share for the third quarter of 2020 as compared to $0.40 per share for the same period in 2019.

•

Funds from operations, or FFO, of $1.75 per share for the third quarter of 2020, which includes $24.3 million of income derived from a legal settlement offset by $4.1 million of related costs, equating to $0.26 per share, partially offset by $9.0 million, or $0.12 per share, of losses related to certain debt and preferred equity ("DPE") investments that were sold. FFO for the same period in 2019 was $1.75 per share.


•	Reduced corporate debt and ended the third quarter with $1.56 billion of liquidity comprised of $249.1 million of consolidated cash, cash equivalents, and marketable securities and $1.31 billion of undrawn capacity on the Company's $1.5 billion revolving credit facility. This liquidity excludes the Company’s share of unconsolidated joint venture cash of $107.4 million.

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Marked the opening of One Vanderbilt Avenue at a ribbon-cutting ceremony with partners, Hines and National Pension Service of Korea, as well as government and transit officials, labor leaders and building tenants. The Company also announced that Hodges Ward Elliott, a premier boutique real estate capital markets advisor, has signed a new 12,692 square foot, 10-year lease to occupy part of the 50th floor at the newly opened tower.

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During the third quarter and through early October, the Company repurchased 0.8 million shares of common stock and units of its Operating Partnership, or OP units, at an average price of $48.17 per share/unit using liquidity generated from asset sales. To date in 2020, the Company has repurchased a combined 6.5 million shares of common stock and OP units, under the previously announced $3.0 billion share repurchase plan, at an average price of $63.42.


•	To date, the Company has collected gross tenant billings, including rent and other billable expenses, as follows:

The following information was filed by Sl Green Realty Corp (SLG) on Thursday, October 22, 2020 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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