![]() Likewise, with the DPE book balance falling to $664M, some analysts may need to revise their ’23 estimates lower.Ĭash same-store NOI was down 0.5% in the quarter, not only a significant deceleration from the prior quarter (up 6.7% yoy), but also weaker than expected. Higher interest expense isn’t so surprising given the environment, but investors may take issue with the role that fees and unaccrued income played in meeting the expected FFO/share number. Offsetting this was better DPE, operating expenses, and “other” items. Core NOI missed by around $0.09/share, and interest expense was also worse than expected. SL Green met Street expectations for funds from operation (or FFO) in the third quarter, but I would argue that the quality of the beat did leave something to be desired. SL Green Realty Is Meeting Expectations For Q3, But The Details Are More Mixed There will be a good time to buy SLG again, but I don’t think this one is a must-buy right now unless you have a meaningfully more bullish outlook for the economy in 2023. The shares do trade at what appears to be a large discount to net asset value (or NAV), but I do see risk to NAV estimates over the next six to 18 months and the combination of elevated leverage (and interest costs) and weaker net operating income (or NOI) could pressure the payout in the short term. SL Green ( NYSE: SLG) is a high-quality option in the office REIT space, and I think high-quality names are good ones to own in tougher times, but I’m cautious for now. These are challenging days in the office segment of commercial real estate (or CRE), as an economic slowdown threatens weaker employee headcounts and space demand in 2023, work-from-home remains difficult to predict over the next few years, and rising rates are squeezing liquidity and expected project returns. For more information, visit the site or send a request to the company.Warren Eisenberg/iStock Editorial via Getty Images You can also view reviews of LITTLE NOI PTY LTD, open vacancies, location of LITTLE NOI PTY LTD on the map. In the total the company uses 0 trading names. Its contact method and company information is above. Products made in LITTLE NOI PTY LTD are not found. Information about owner, director or manager of LITTLE NOI PTY LTD is not available. The main activity of LITTLE NOI PTY LTD is Insurance Carriers, including 5 other directions. Founded capital is 169,000 AUD, sales per year are seted up as more 202,000,000 AUD, with credit rating as negative. We found out such reports and documents as address, credits, phone, contact data LITTLE NOI PTY LTD 2022, vacancies, responds, finance, company information, confirmation statement (annual return), company accounts and official information from Companies House. Company LITTLE NOI PTY LTD is registered at, got ACN as 626140118 and ABN as 150152587890 at the moment company status is registered. LITTLE NOI PTY LTD is an australian proprietary company, located in n/a, Australia. MORGAN MARKETS AUSTRALIA PTY LIMITED | THREE STRIPES PTY LTD | C FIRST HOLDINGS PTY LTD | LEVERAGE PROPERTY GROUP (QLD) PTY LTD | AMAZON ASSET MANAGEMENT PTY LTD Other companies related to LITTLE NOI PTY LTD: J.P.
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