SL Green: Occupancy Gains, But FFO Continues To Dip

SL Green Realty Corp. saw significant occupancy and leasing gains in the first quarter as FFO declined, and rising U.S. Treasury yields look set to form a headwind for REITs. SLG's Manhattan same-store occupancy rose to 94.4% in the first quarter, with guidance for this to reach 95% by the end of 2026. First quarter FFO fell to $0.84 per share, missing consensus and down from $1.43 in the year-ago comp.