Dividendenforum ( ehemals Macys ) Forum: Community User: Olli2111

https://seekingalpha.com/article/4519205-sl-green-realty-reit-7-6-percent-yield-52-percent-upside-major-debt-risk ... Balance Sheet Metrics SLG's liquidity ratio of 1.92 is solid, well above the median for the Office REIT sector, but its debt ratio of 51% and Debt/EBITDA of 12.7 are a serious concern. And the company is taking it seriously. Here is the maturity schedule, with a formidable $1.3 billion due this year, and easier levels of $657 million and $805 million the next two years, followed by a big gulp of $2.0 billion in 2025, and a sharp drop to just $156 million in 2026. If annual revenues for 2022 equal Q1 revenue times 4, then the $1.3 billion due in 2022 is almost double projected revenues of $752 million. SLG is taking responsible steps toward repaying and refinancing these debts. They plan to repay all $300 million in unsecured notes held at 4.5% this year, and pay down the $500 million held at 3.25%. Of the 8 properties on which they owe for the next two years, they are refinancing five (totaling $787.7 million at a current weighted average interest rate of 4.38%) and paying off one ($50 million), with one ($52.9 million) fully repaid and one ($203.5 million) permanently financed at 3.30%. They also intend to increase their liquidity by 30%, from $1.09 billion to $1.42 billion, partly by selling about $85 million more in assets than they buy. They are targeting some $138 million in sales and $43 million in acquisitions. ...