SL Green Realty Corp. shares hold Steady after Q3 Earnings

The Masters started talking up SL Green Realty Corp. (NYSE:SLG) shares at $19 a share back in July.  Today the New York heavy REIT is at $41 a share.  SLG reported Q3 2009 revenues and EBITDA of $249.6 million and $141.7 million with a net loss of $2.5 million.  After the bell shares of SLG held steady at $41.81.

Here's the breakdown for the quarter:
SL Green Realty Corp. (NYSE: SLG) today reported funds from operations, or FFO, of $78.1 million, or $0.98 per share (diluted), for the quarter ended September 30, 2009, a decrease of 28.5% compared to $83.1 million, or $1.37 per share (diluted), for the same quarter in 2008.

Net loss attributable to common stockholders totaled $2.5 million, or $0.03 per share (diluted), for the quarter ended September 30, 2009, compared to net ncome of $28.8 million, or $0.49 per share (diluted), for the same quarter in 2008.

Operating and Leasing Activity
For the third quarter of 2009, the Company reported revenues and EBITDA of $249.6 million and $141.7 million, respectively, a decrease of $18.7 million, or 7.0%, and $9.0 million, or 6.0%, respectively, compared to the same period in 2008. The decrease is primarily due to lower investment income and greater loan loss reserves in 2009 compared to 2008.

Read the entire Press Release from SLG - Click Here