Why SL Green Shares Are Dipping Today
Portfolio Pulse from Lekha Gupta
SL Green Realty Corp's shares are trading lower by around 5% after reporting worse-than-expected Q2 2023 earnings results. The company reported rental revenues of $165.65 million, an increase from $136.5 million a year ago, and total revenues of $221.07 million. However, FFO per share declined from $1.87 a year ago to $1.43. The company also declared a dividend of $3.25 per share in the quarter.
July 20, 2023 | 10:50 am
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SL Green Realty Corp's Q2 2023 earnings were worse than expected, leading to a drop in share price. Despite increased rental revenues, the FFO per share declined.
SL Green Realty Corp's shares are trading lower due to worse-than-expected Q2 2023 earnings. Despite an increase in rental revenues, the FFO per share declined from $1.87 a year ago to $1.43, which is a negative signal for investors. This could lead to a short-term decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100