Prospect Financial Services LLC purchased a new position in shares of SL Green Realty Corporation (NYSE:SLG – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 243,802 shares of the real estate investment trust’s stock, valued at approximately $12,622,000. SL Green Realty makes up approximately 6.4% of Prospect Financial Services LLC’s investment portfolio, making the stock its 3rd largest position.
A number of other hedge funds have also recently added to or reduced their stakes in SLG. Triumph Capital Management purchased a new stake in SL Green Realty in the 3rd quarter valued at approximately $45,000. Davis Capital Management purchased a new position in shares of SL Green Realty during the 1st quarter worth approximately $46,000. Fourth Dimension Wealth LLC raised its stake in shares of SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 500 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 378 shares during the period. Finally, Leonteq Securities AG lifted its holdings in shares of SL Green Realty by 4,194.0% in the 1st quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 2,097 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.
SL Green Realty Price Performance
SLG stock opened at $56.18 on Friday. The firm has a 50 day moving average of $52.11 and a 200-day moving average of $44.88. The company has a market cap of $4.01 billion, a price-to-earnings ratio of -20.58, a PEG ratio of 2.46 and a beta of 1.58. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29.
SL Green Realty Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s payout ratio is presently -90.48%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on SLG shares. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their target price on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Morgan Stanley set a $52.00 target price on SL Green Realty and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Barclays set a $52.00 target price on shares of SL Green Realty and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 price target (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and an average price target of $55.15.
View Our Latest Research Report on SLG
SL Green Realty Company Profile
SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.
Founded in 1980 by real estate investor Stephen L.
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