Piedmont Realty Trust, Inc. (PDM) vs SL Green Realty Corporation (SLG)

Piedmont Realty Trust, Inc. and SL Green Realty Corporation are both Reit Office companies. SL Green Realty Corporation is the larger, with a market value of $3.6B against $1.1B — 3.2× the size. SL Green Realty Corporation grew revenue faster over the last twelve months: 8.46% against 0.70%. Piedmont Realty Trust, Inc. has the higher net margin (−14.2% vs −18.4%) and the higher return on invested capital (1.29% vs 0.34%). Only SL Green Realty Corporation pays a dividend (5.04%). Across the 20 metrics below, Piedmont Realty Trust, Inc. leads on 13 and SL Green Realty Corporation on 7.

Valuation

Metric PDM SLG Reit Office median
P/E n/m n/m 36.27
P/S 2.00 3.20 2.59
P/B 0.77 0.79 0.76
Price to free cash flow 35.88 n/m 13.41
EV/EBITDA 10.55 22.79 12.64
EV/Sales 5.91 7.09 6.88
Earnings yield (7.15%) (5.79%) (3.67%)
Free cash flow yield 2.79% (11.83%) 6.05%

Profitability

Metric PDM SLG Reit Office median
Gross margin 60.02% 46.91% 60.53%
Operating margin 13.46% 4.47% 16.84%
Net margin (14.18%) (18.35%) (8.23%)
Free cash flow margin 5.56% (37.83%) 16.39%
Return on equity (5.34%) (4.67%) (2.66%)
Return on assets (2.01%) (1.65%) (0.95%)
Return on invested capital 1.29% 0.34% 1.32%

Growth

Metric PDM SLG Reit Office median
Revenue growth (TTM) 0.70% 8.46% 1.08%
EPS growth (last fiscal year) (4.69%) (2,112.50%) 8.90%
Revenue growth, 5-year CAGR 1.10% (0.96%) 4.37%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PDM SLG Reit Office median
Debt to equity 1.53 1.00 1.20
Current ratio 1.36 3.10 2.43
Net debt to EBITDA 7.13 9.87 6.91

Dividend

Metric PDM SLG Reit Office median
Dividend yield 0.00% 5.04% 4.89%
Payout ratio — — 1.67

Size

Metric PDM SLG Reit Office median
Market cap 1.13b 3.60b 1.37b

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