SL Green Realty Corp bears the ticker symbol SLG. This is my first mention of SL Green Realty Corp for this new Viking Portfolio or any of my previous seven dog of the week folios.

SL Green is one of the largest Manhattan property owners and landlords, with interest in about 35 million square feet of wholly owned and joint venture office space.  It operates as a real estate investment trust.

The company has additional property exposure through its limited portfolio of well-located retail space.

SLG has paid variable quarterly dividends since 1997 and initiated variable monthly payouts in 2020.

Three key data points gauge SL Green Realty Corp, or any dividend paying firm:

(1) Price

(2) Dividends

(3) Returns

Those three basic keys best tell whether any company has made, is making, and will make money.

SLG Price

SL Green Realty Corp price per share was $38.93 at Friday’s market close. In the past year, SLG share price fell by $38.47, or about 50%.

If SLG stock trades in the range of $20.00 to $50.00 this next year, its recent $38.93 share price might reach $42.00 by next year. That upside estimate of $3.07 is about $0.78 below the median of one year target prices from 18 analysts.

SLG Dividends

SL Green Realty Corp most recent monthly  dividend of $0.2708 casts a forward annual yield of 8.35%.

SLG Returns

Adding the $3.25 annual estimated SL Green Realty Corp dividend to the one-year price upside estimate of $3.07 reveals a $6.32 potential gross gain estimate per share.

At Friday’s $38.93 closing price, a little over $1000 would buy 26 shares. A $10 broker fee (if charged), paid half at purchase and half at sale, might cost us about $0.38 per share.

Subtract that maybe $0.38 brokerage cost from my estimated $6.32 gross gain makes a net gain of $5.94 X 26 shares = $154.44 for a 15.4% net gain including the 8.38% annual dividend yield.

In the next year our $1K investment in shares of SL Green Realty Corp would generate $83.50 in cash dividends. However, a single share of SLG stock at Friday’s $38.93 price is over 2 times less than the estimated annual dividend income from our $1000.00 investment.

So, by my dogcatcher ideal, this is a pullback time to buy SL Green Realty Corp shares based on their dividends for 2023. The current dividend from $1K invested is 2.14 times higher than the SLG single share price. Consider yourself alerted.

All of the estimates above are speculation based on the past history of investment in shares of SL Green Realty Corp. Only time and money invested in this stock will determine its future market value.

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