Stock message boards
Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door Stock message boards
SL Green Realty Corp. | 6.50% Series I Cumulative Redeemable Preferred Stock (SLG.PRI)

Prospectus exerpt:   SL Green Realty Corp. is offering 8,000,000 shares of 6.50% Series I Cumulative Redeemable Preferred Stock (the "Series I Preferred Stock").

The dividend rate per share of Series I Preferred Stock is 6.50% per annum of the $25.00 liquidation preference, which is equivalent to $1.625 per annum per share and is payable when, as and if declared by our board of directors, quarterly in cash, in arrears, on each January 15, April 15, July 15 and October 15 (or, if not a business day, the next succeeding business day) commencing on October 15, 2012. Because the first dividend payment date is October 15, 2012, the dividend payable on a share of Series I Preferred Stock on that date will be $0.2934, representing the pro rated amount of the regular quarterly dividend per share.

The Series I Preferred Stock is not redeemable until August 10, 2017, except in instances relating to preservation of our status as a real estate investment trust, or REIT. On and after August 10, 2017, we may redeem the Series I Preferred Stock, at any time, in whole or from time to time in part, for cash at $25.00 per share, plus accrued and unpaid dividends to, but not including, the redemption date.

The Series I Preferred Stock has no stated maturity, is not subject to any sinking fund, is not convertible into any other security and will remain outstanding indefinitely unless repurchased or redeemed at our option.

Holders of shares of Series I Preferred Stock will generally have no voting rights, except for limited voting rights if we fail to pay dividends for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.

Full Prospectus PDF », SLG Page »

Series:I
Redeemable?:Yes
Call Date:8/10/2017
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:8,000,000
Overallotment:1,200,000
Liquidation Preference:$25
Recent Market Price:$23.51
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-1.49 (-5.96%)
Annualized Dividend:1.625
Recent Ex-Date:3/27/2014
Current Yield:6.91%
Original Coupon:6.500%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
SL Green Realty is a self-managed real estate investment trust. Co. is engaged in the business of owning, managing, leasing, acquiring and repositioning office properties in Manhattan, a borough of New York City. As of Dec 31 2012, Co.'s Manhattan office properties were comprised of 21 fee owned properties, including ownership in commercial condominium units, and six leasehold owned properties. As of the same date, Co.'s Suburban office properties were comprised of 24 fee owned properties and one leasehold property. Co. also held fee owned interests in nine unconsolidated Manhattan office properties and five unconsolidated Suburban office properties.

Preferreds: SLG.PRI, SLG.PRC


Open the SLG Information Page »
Name:  SL Green Realty Corp.
Website:  www.slgreen.com
Sector:  REITs
Number of ETFs Holding SLG:  62 (see which ones)
Total Market Value Held by ETFs:  $1,307,881,531
Total Market Capitalization:  $9,646,000,000
% of Market Cap. Held by ETFs:  13.56%

Quotes delayed 20 minutes

SL Green Realty Corp. | 6.50% Series I Cumulative Redeemable Preferred Stock (SLG.PRI) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com | Copyright © 2011 - 2014, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Service. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.