Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

For SL Green Realty, A Rich Premium Is Richly Deserved

It's probably not accurate to say that SL Green Realty (NYSE:SLG) is a universally liked office REIT, but it does seem to be the case that the objections raised by sell-side analysts are more often about value and market/concentration risk as opposed to management's plans or performance. I won't argue that SL Green is cheap right now, but the company does offer some upside to ongoing improvements in the NYC office market and from its investment portfolio.

All About NYC

SL Green has long been focused on the New York City office market, where it owns 32 properties encompassing 23.2 million square foot (combining consolidated and unconsolidated), good for about 5% to 6% share of the NYC office...

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