SL Green Realty Corp. Reports Fourth Quarter 2022 EPS of ($1.01) per Share; and FFO of $1.46 per Share
Financial and Operating Highlights
- Net loss attributable to common stockholders of $1.01 per share for the fourth quarter of 2022 as compared to net loss of $0.82 per share for the same period in 2021.
- Reported funds from operations, or FFO, of $1.46 per share for the fourth quarter of 2022, or $1.47 per share before giving effect to ($0.8)million, or ($0.01) per share, of non-cash fair value adjustments, as compared to $1.52 per share for the same period in 2021.
- Reported FFO of $6.64 per share for the full year, or $6.76 per share before giving effect to ($8.5)million, or ($0.12) per share, of non-cash fair value adjustments and gains or losses on the early extinguishment of debt, as compared to $6.63 for the same period in 2021.
- Signed 33 Manhattan office leases covering 196,421 square feet in the fourth quarter of 2022 and 141 Manhattan office leases covering 2,136,464 square feet for the full year. The mark-to-market on signed Manhattan office leases was 4.7% lower for the fourth quarter and 9.2% lower for the full year than the previous fully escalated rents on the same spaces.
- Same-store cash net operating income, or NOI, including the Company's share of same-store cash NOI from unconsolidated joint ventures, increased by 3.3% for the fourth quarter of 2022 and increased by 4.6% for the full year as compared to the same period in 2021, excluding lease termination income.
- Manhattan same-store office occupancy was 91.2% as of December31, 2022, inclusive of leases signed but not yet commenced.
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