Prospect Financial Services LLC Has $15.63 Million Stock Position in SL Green Realty Corp. (NYSE:SLG)

Prospect Financial Services LLC lowered its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 230,080 shares of the real estate investment trust's stock after selling 29,333 shares during the period. SL Green Realty comprises about 8.5% of Prospect Financial Services LLC's holdings, making the stock its largest holding. Prospect Financial Services LLC owned approximately 0.35% of SL Green Realty worth $15,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in SL Green Realty by 1.4% in 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 purchasing an additional 557 shares during the last quarter. Xponance Inc. boosted its holdings in SL Green Realty by 6.6% during the 2nd quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust's stock valued at $240,000 after acquiring an additional 262 shares during the period. AQR Capital Management LLC grew its position in SL Green Realty by 5.4% during the 2nd quarter. AQR Capital Management LLC now owns 11,062 shares of the real estate investment trust's stock worth $621,000 after acquiring an additional 569 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in SL Green Realty by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,780 shares of the real estate investment trust's stock worth $2,310,000 after purchasing an additional 1,459 shares during the period. Finally, Mackenzie Financial Corp lifted its position in 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 last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 4.8 %

Shares of NYSE SLG traded down $3.23 during midday trading on Tuesday, hitting $64.15. The stock had a trading volume of 1,116,381 shares, compared to its average volume of 843,734. The business's 50 day moving average is $70.55 and its 200-day moving average is $69.38. SL Green Realty Corp. has a 52 week low of $41.88 and a 52 week high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The company has a market cap of $4.23 billion, a P/E ratio of 801.91, a PEG ratio of 5.53 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The real estate investment trust reported $1.45 EPS for the quarter, beating 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%. As a group, analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Friday, January 31st. SL Green Realty's dividend payout ratio (DPR) is 3,862.50%.

Analyst Ratings Changes

Several research analysts recently commented on SLG shares. Piper Sandler reaffirmed an "overweight" rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Compass Point upped their price objective on shares of SL Green Realty from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. BMO Capital Markets reaffirmed an "outperform" rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Truist Financial raised their target price on shares of SL Green Realty from $61.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Barclays lowered their price objective on shares of SL Green Realty from $78.00 to $76.00 and set an "equal weight" rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SL Green Realty has an average rating of "Hold" and an average target price of $69.38.

Insider Buying and Selling at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.30, for a total transaction of $229,066.50. Following the completion of the sale, the director now owns 2,052 shares in the company, valued at approximately $136,047.60. This represents a 62.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.08% of the company's stock.

SL Green Realty Company 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.