How To Earn $500 A Month From SL Green Stock, New York City's Largest Office Landlord

When a surge of confidence sweeps through the Street, it's usually propelled by the momentum of deals that exceed expectations.

SL Green Realty Corp SLG, New York City’s largest office landlord, ignited the wave on Monday, with its shares climbing nearly 20% after it announced a strategic sale and partnership.

What Happened: SL Green announced the sale of a 49.9% stake in the 245 Park Avenue location to a U.S. affiliate of Mori Trust Co. Ltd, valuing the asset at $2 billion. The sale follows its successful $500 million refinancing of 919 Third Avenue earlier this year.

The partnership comes at a time when the commercial real estate sector deals with period of adjustment due to the increased adoption of hybrid work models. The deal marks a reassuring vote of confidence in the resilience of New York's office market.

Outside of the sale, SL Green is a reliable dividend payer, appealing to investors who prefer consistent income generation. So, how can investors earn $500 a month from its stock?

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We’ll start with the $500 per month target, which translates to an annual target of $6,000 ($500 x 12 months).

Next, we’ll divide the $6,000 by SL's whopping 12.2% dividend yield: $6,000 / 0.122 = $43,478.26.

So, an investor looking to yield $500 per month from SL Green would need $49,180.33, or 1,703 shares.

For a more modest $100 per month ($1,200 annually), an investor would need $9,836.07, or 341 shares.

Check out other high yield investments here.

Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.

For example, if a stock pays an annual dividend of $2 and its price is $50, its dividend yield would be 4%. If the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).

Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).

Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.

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