NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, today announced that the Company’s Board of Directors authorized an increase to the size of its share repurchase program by an additional $500 million of the Company’s common stock, bringing the program to a total of $2.0 billion.
To date, the Company has repurchased 15,067,975 shares under the program.
“The investment opportunity that existed at the start of the share repurchase program persists today,” commented Marc Holliday, SL Green’s Chief Executive Officer. “As we continue to evaluate the best use of capital, the purchase of our stock, which is highly discounted relative to the value of our underlying assets, remains an extremely attractive option while maintaining our discipline with regard to leverage, liquidity and our earnings trajectory.”
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet. This included ownership interests in 28.7 million square feet of Manhattan buildings and debt and preferred equity investments secured by 21.2 million square feet of buildings. In addition, SL Green held ownership interests in 25 suburban buildings totaling 3.7 million square feet in Brooklyn, Long Island, Westchester County, and Connecticut.
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