SL Green: The Common Seems Better Than The Preferred

Summary

• SL Green Realty Corp. is a REIT that owns, develops, and manages office properties primarily in the New York metropolitan area.
• There are some performance issues that could be related to a general lower demand for office space in Manhattan.
• However, I believe that the solid dividend yield and discount to NAV make up for them.
• Investors who are considering the preferred shares may need to think about the low yield differential here and the higher upside potential of the common stock.

Itza Villavicencio Urbieta

SL Green Realty Corp. (NYSE:SLG), incorporated in 1997 and headquartered in New York, NY, is a REIT that owns, develops, and manages primarily office properties in the New York metropolitan area.

Though the portfolio is highly

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.