Prospect Financial Services LLC Has $11.87 Million Stock Holdings in SL Green Realty Corporation $SLG

Prospect Financial Services LLC boosted its position in shares of SL Green Realty Corporation (NYSE:SLG) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 258,671 shares of the real estate investment trust’s stock after buying an additional 42,557 shares during the period. SL Green Realty makes up about 6.8% of Prospect Financial Services LLC’s portfolio, making the stock its 2nd biggest holding. Prospect Financial Services LLC’s holdings in SL Green Realty were worth $11,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLG. AQR Capital Management LLC boosted its stake in SL Green Realty by 74.8% during the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust’s stock valued at $1,519,000 after buying an additional 11,506 shares during the last quarter. United Services Automobile Association bought a new position in SL Green Realty during the first quarter valued at approximately $253,000. Empowered Funds LLC boosted its stake in SL Green Realty by 10.9% during the first quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 722 shares during the last quarter. Creative Planning bought a new position in SL Green Realty during the second quarter valued at approximately $421,000. Finally, California Public Employees Retirement System boosted its stake in SL Green Realty by 4.6% during the second quarter. California Public Employees Retirement System now owns 131,528 shares of the real estate investment trust’s stock valued at $8,142,000 after buying an additional 5,789 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Price Performance

NYSE:SLG opened at $42.62 on Friday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -16.98 and a beta of 1.60. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.91. The business has a 50 day simple moving average of $40.31 and a 200-day simple moving average of $43.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03.

SL Green Realty Dividend Announcement

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

Wall Street Analyst Weigh In

SLG has been the subject of a number of research reports. The Goldman Sachs Group set a $37.00 price target on SL Green Realty and gave the company a “sell” rating in a research note on Friday, February 6th. Barclays lowered their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Evercore reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of SL Green Realty in a research note on Friday, April 17th. Citigroup lowered their price objective on SL Green Realty from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Finally, Raymond James Financial set a $44.00 price objective on SL Green Realty in a research note on Tuesday, February 3rd. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.20.

SL Green Realty 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.