SL Green Realty Corp. (NYSE:SLG) is Prospect Financial Services LLC’s Largest Position

Prospect Financial Services LLC decreased its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,080 shares of the real estate investment trust’s stock after selling 29,333 shares during the period. SL Green Realty accounts for 8.5% of Prospect Financial Services LLC’s investment portfolio, making the stock its biggest position. Prospect Financial Services LLC’s holdings in SL Green Realty were worth $15,627,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SLG. Envestnet Asset Management Inc. increased its position in SL Green Realty by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 39,786 shares of the real estate investment trust’s stock worth $2,253,000 after buying an additional 557 shares in the last quarter. Xponance Inc. grew its position in shares of SL Green Realty by 6.6% in the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 262 shares during the period. AQR Capital Management LLC grew its position in shares of SL Green Realty by 5.4% in the second quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust’s stock valued at $621,000 after purchasing an additional 569 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of SL Green Realty by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 40,780 shares of the real estate investment trust’s stock valued at $2,310,000 after purchasing an additional 1,459 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of SL Green Realty by 11.6% in the second quarter. Mackenzie Financial Corp now owns 5,088 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 530 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Up 2.1 %

Shares of SLG opened at $67.38 on Tuesday. The stock’s 50-day moving average is $70.73 and its two-hundred day moving average is $69.33. The stock has a market cap of $4.44 billion, a PE ratio of 842.24, a P/E/G ratio of 5.53 and a beta of 1.82. SL Green Realty Corp. has a 12 month low of $41.88 and a 12 month high of $82.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, topping the consensus estimate of ($0.45) by $1.90. SL Green Realty had a negative return on equity of 0.11% and a net margin of 2.48%. Equities analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, January 31st. SL Green Realty’s dividend payout ratio (DPR) is 3,862.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank lifted their price objective on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Jefferies Financial Group lowered their price objective on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Barclays lowered their price objective on SL Green Realty from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $51.00 to $80.00 in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, SL Green Realty currently has an average rating of “Hold” and an average target price of $69.38.

Insider Buying and Selling

In related news, Director Craig M. Hatkoff sold 3,455 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.30, for a total value of $229,066.50. Following the completion of the sale, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. The trade was a 62.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.08% of the company’s stock.

About SL Green Realty

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.