Prospect Financial Services LLC Sells 29,333 Shares of SL Green Realty Corp. (NYSE:SLG)

Prospect Financial Services LLC decreased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 comprises 8.5% of Prospect Financial Services LLC’s investment portfolio, making the stock its biggest position. Prospect Financial Services LLC owned approximately 0.35% of SL Green Realty worth $15,627,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SLG. Wellington Management Group LLP increased its holdings in SL Green Realty by 50.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,913,049 shares of the real estate investment trust’s stock worth $202,777,000 after purchasing an additional 977,321 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of SL Green Realty by 396.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 446,170 shares of the real estate investment trust’s stock valued at $31,058,000 after acquiring an additional 356,275 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of SL Green Realty in the 3rd quarter valued at about $18,811,000. Charles Schwab Investment Management Inc. increased its holdings in shares of SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust’s stock valued at $88,275,000 after acquiring an additional 97,653 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of SL Green Realty by 304.8% in the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust’s stock valued at $7,718,000 after acquiring an additional 83,478 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Activity at SL Green Realty

In related news, Director Craig M. Hatkoff sold 3,455 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 2,052 shares of the company’s stock, valued at $136,047.60. This trade represents a 62.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America dropped their price objective on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday. Jefferies Financial Group dropped their price target on SL Green Realty from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Piper Sandler restated an “overweight” rating and set a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Truist Financial raised their price target on SL Green Realty from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded SL Green Realty from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and a consensus target price of $69.38.

SL Green Realty Stock Up 2.1 %

SLG opened at $67.38 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. The business has a 50 day simple moving average of $70.73 and a 200-day simple moving average of $69.33. The stock has a market capitalization of $4.44 billion, a P/E 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.

SL Green Realty (NYSE:SLG) last posted its quarterly 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%. On average, equities analysts anticipate that SL Green Realty Corp. will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed 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 yield of 4.59%. The ex-dividend date is Friday, January 31st. SL Green Realty’s payout ratio is currently 3,862.50%.

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.