Prospect Financial Services LLC Has $13.36 Million Position in SL Green Realty Corporation $SLG

Prospect Financial Services LLC decreased its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,902 shares of the real estate investment trust’s stock after selling 16,182 shares during the period. SL Green Realty accounts for approximately 8.0% of Prospect Financial Services LLC’s holdings, making the stock its biggest holding. Prospect Financial Services LLC owned about 0.30% of SL Green Realty worth $13,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its position in shares of SL Green Realty by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 33,200 shares of the real estate investment trust’s stock worth $2,055,000 after purchasing an additional 200 shares in the last quarter. Amalgamated Bank raised its position in SL Green Realty by 1.2% in the 2nd quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock worth $1,253,000 after purchasing an additional 235 shares during the last quarter. Mackenzie Financial Corp raised its position in SL Green Realty by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 240 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in SL Green Realty by 2.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 10,257 shares of the real estate investment trust’s stock worth $592,000 after buying an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in SL Green Realty by 67.8% in the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 253 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.04% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG stock opened at $48.30 on Friday. The stock has a market cap of $3.44 billion, a PE ratio of 4,834.83 and a beta of 1.75. The stock has a 50-day moving average of $56.60 and a 200-day moving average of $58.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $80.90.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The firm had revenue of $244.82 million during the quarter, compared to analysts’ expectations of $170.27 million. During the same quarter in the previous year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a dividend of $0.2575 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is presently 30,900.00%.

Wall Street Analyst Weigh In

SLG has been the topic of several research reports. Bank of America cut their price target on SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Wells Fargo & Company dropped their price objective on SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 27th. New Street Research set a $72.00 target price on shares of SL Green Realty in a research note on Thursday, October 9th. Truist Financial set a $54.00 price target on shares of SL Green Realty and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Finally, Citigroup upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $70.00 in a report on Friday, September 12th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $64.33.

SL Green Realty Profile

3SL Green Realty Corp., Manhattan’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 June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.