SL Green Projects 2012 Funds From Operations Beating Analysts’ Estimates

SL Green Realty Corp., Manhattan’s biggest office landlord, said 2012 funds from operations will be $4.45 to $4.55 a share, higher than analysts’ estimates. (SLG)

The company also reiterated its forecast for FFO in 2011 of $4.75 to $4.80 a share, according to a regulatory filing today. SL Green, which holds its annual investor conference today, was expected to post 2012 FFO of $4.31 a share, the average estimate of 16 analysts surveyed by Bloomberg.

The company, based in New York, signed Young & Rubicam Group to anchor 3 Columbus Circle, a 26-story tower near Time Warner Center that it co-owns with Moinian Group. The marketing and communications company, a unit of Dublin-based WPP Plc, is buying a 214,372-square-foot (19,916-square-meter) condominium interest and agreed to a 20-year lease for an additional 124,760 square feet, SL Green said today in a statement. Terms weren’t disclosed.

SL Green rose as much as 4.4 percent to $68.06 in New York trading.

To contact the reporter on this story: David M. Levitt in New York at

To contact the editor responsible for this story: Kara Wetzel at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.