Prospect Financial Services LLC Purchases New Position in SL Green Realty Corporation $SLG

Key Points

• Prospect Financial Services acquired 243,802 shares of SL Green Realty worth approximately $12.6 million, making the REIT its third-largest portfolio holding and representing a 0.34% ownership stake.
• Analyst sentiment remains mixed: seven analysts rate SLG a Buy, 10 a Hold, and two a Sell, resulting in a consensus Hold rating and an average price target of $55.15.
• SL Green reported quarterly revenue of $264 million, up 16.5% year over year, and beat estimates for a loss per share. The company maintained its quarterly dividend of $0.6175, equivalent to a 4.4% annualized yield.

Prospect Financial Services LLC acquired a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 243,802 shares of the real estate investment trust's stock, valued at approximately $12,622,000. SL Green Realty makes up about 6.4% of Prospect Financial Services LLC's portfolio, making the stock its 3rd largest position. Prospect Financial Services LLC owned 0.34% of SL Green Realty as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in SLG. Triumph Capital Management acquired a new stake in shares of SL Green Realty in the 3rd quarter valued at about $45,000. Davis Capital Management acquired a new position in SL Green Realty during the first quarter worth approximately $46,000. Fourth Dimension Wealth LLC increased its position in SL Green Realty by 45.5% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust's stock worth $73,000 after buying an additional 500 shares during the period. Hantz Financial Services Inc. lifted its stake in SL Green Realty by 30.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock valued at $74,000 after buying an additional 378 shares during the last quarter. Finally, Leonteq Securities AG lifted its stake in SL Green Realty by 4,194.0% in the first quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust's stock valued at $79,000 after buying an additional 2,097 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLG. Scotiabank raised their target price on shares of SL Green Realty from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, August 5th. UBS Group set a $60.00 price target on shares of SL Green Realty in a research report on Monday, July 27th. Wells Fargo & Company upped their price target on shares of SL Green Realty from $40.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, June 1st. Wall Street Zen cut shares of SL Green Realty from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Finally, Barclays set a $52.00 price objective on shares of SL Green Realty and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $55.15.

SL Green Realty Stock Down 2.5%

SL Green Realty stock opened at $56.18 on Friday. The stock has a 50 day moving average of $52.11 and a two-hundred day moving average of $44.88. SL Green Realty Corporation has a twelve month low of $34.77 and a twelve month high of $66.29. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -20.58, a PEG ratio of 2.46 and a beta of 1.58. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The business had revenue of $264.00 million for the quarter, compared to analyst estimates of $179.01 million. During the same quarter in the previous year, the company posted $1.63 earnings per share. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts expect that SL Green Realty Corporation will post 5.44 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, June 30th. SL Green Realty's dividend payout ratio (DPR) is -90.48%.

SL Green Realty Company 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.

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