SL Green Realty Corporation $SLG Shares Sold by Prospect Financial Services LLC

Prospect Financial Services LLC decreased its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 7.0% in the 2nd quarter, Holdings Channel reports. The fund owned 215,902 shares of the real estate investment trust’s stock after selling 16,182 shares during the quarter. SL Green Realty accounts for approximately 8.0% 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 $13,364,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SLG. Bessemer Group Inc. boosted its stake in SL Green Realty by 67.8% in the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 253 shares during the period. Allworth Financial LP lifted its holdings in shares of SL Green Realty by 2,432.8% in the second quarter. Allworth Financial LP now owns 1,697 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 1,630 shares in the last quarter. State of Wyoming acquired a new position in shares of SL Green Realty during the first quarter worth about $172,000. Profund Advisors LLC bought a new position in shares of SL Green Realty during the second quarter worth about $210,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of SL Green Realty during the second quarter worth about $225,000. 89.96% of the stock is owned by institutional investors.

SL Green Realty Price Performance

Shares of SLG opened at $48.30 on Friday. The company has a current ratio of 3.22, a quick ratio of 2.72 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $56.60 and its 200 day simple moving average is $58.00. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $80.90. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 4,834.83 and a beta of 1.75.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. The company had revenue of $244.82 million during the quarter, compared to the consensus estimate of $170.27 million. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. On average, research analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a dividend of $0.2575 per share. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 6.4%. SL Green Realty’s dividend payout ratio (DPR) is presently 30,900.00%.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on SLG. JPMorgan Chase & Co. boosted their target price on SL Green Realty from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Barclays set a $59.00 price objective on shares of SL Green Realty in a research report on Monday, November 3rd. Wells Fargo & Company reduced their target price on shares of SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 27th. Bank of America lowered their price target on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Finally, Piper Sandler restated an “overweight” rating on shares of SL Green Realty in a research note on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.33.

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.