SL Green Realty Corporation $SLG is Prospect Financial Services LLC’s 2nd Largest Position

Prospect Financial Services LLC grew its stake in SL Green Realty Corporation (NYSE:SLG) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,671 shares of the real estate investment trust’s stock after buying an additional 42,557 shares during the quarter. SL Green Realty makes up 6.8% of Prospect Financial Services LLC’s portfolio, making the stock its 2nd biggest holding. Prospect Financial Services LLC owned 0.36% of SL Green Realty worth $11,865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. purchased a new stake in SL Green Realty in the third quarter worth about $29,000. Triumph Capital Management purchased a new stake in SL Green Realty in the third quarter worth about $45,000. Cornerstone Planning Group LLC increased its position in SL Green Realty by 12,114.3% in the third quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 848 shares in the last quarter. State of Wyoming purchased a new stake in SL Green Realty in the third quarter worth about $68,000. Finally, Hantz Financial Services Inc. increased its position in SL Green Realty by 252.9% in the third quarter. Hantz Financial Services Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 885 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SLG shares. Raymond James Financial set a $44.00 price target on SL Green Realty in a research report on Tuesday, February 3rd. Truist Financial upped their price target on SL Green Realty from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded SL Green Realty from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft upgraded SL Green Realty from a “hold” rating to a “buy” rating and reduced their price target for the stock from $45.00 to $44.00 in a research report on Wednesday, March 18th. Finally, Mizuho set a $38.00 target price on SL Green Realty and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.20.

SL Green Realty Stock Performance

NYSE:SLG opened at $42.62 on Friday. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 1.18. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.91. The stock has a 50-day moving average price of $40.31 and a 200 day moving average price of $43.08. The stock has a market capitalization of $3.04 billion, a P/E ratio of -16.98 and a beta of 1.60.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.6175 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.47 annualized dividend and a dividend yield of 5.8%. SL Green Realty’s dividend payout ratio (DPR) is currently -98.41%.

About SL Green Realty

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.