SL Green Posts Q3 FFO of $1.59 Per Share, Meeting Analyst Estimates

SL Green Realty Corp. (SLG) reported third-quarter funds from operations of $122.1 million, or $1.59 per share, matching the average estimate of six analysts surveyed by Zacks Investment Research. The New York-based real estate investment trust posted net income of $72.2 million, or $1.01 per share, for the period. Revenue came in at $273 million, with adjusted revenue of $165.6 million. Funds from operations, a key profitability measure in the REIT industry that adds back depreciation and amortization to net income, met Wall Street expectations. The company guided full-year FFO to a range of $6.50 to $6.70 per share.