SL Green Realty Reports Q4 FFO Below Expectations
NEW YORK, N.Y. (AP) - SL Green Realty Corp. (SLG) announced its fourth-quarter financial results on Wednesday, with funds from operations (FFO) falling short of Wall Street projections.
The New York-based real estate investment trust reported FFO of $105.9 million, or $1.45 per share, for the period. Analysts surveyed by Zacks Investment Research had forecast FFO of $1.53 per share.
FFO, a key metric in the REIT industry, represents net income adjusted for non-cash items like depreciation and amortization. The company's net income for the quarter was $9.4 million, or 13 cents per share.
SL Green posted revenue of $245.9 million, with adjusted revenue coming in at $139.6 million. For the full year, the company reported FFO of $353.7 million and revenue of $543 million.
The earnings release was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on SLG at https://www.zacks.com/ap/SLG