SLG
SL Green Realty Corp.
stock NYSE

Consumer credit is strained: card APRs are still 21–24%, student loan delinquencies are above 10% of balances, and office CMBS delinquency hit a record 11% in June. That environment puts pressure on lenders and borrowers who live in those channels. Capital One (COF) just printed a $4.3B Q2 loss with a $7.9B reserve build. Discover (DFS) is paying out $1.2B+ in fines and restitution under FDIC/Fed orders. Ally (ALLY) guided auto net charge-offs up to 2.0–2.15%. Ford (F) and GM both have Altman-Z scores near 1.0 (distress zone). Boston Properties (BXP) sits at \~86% occupancy while refinancing offices into higher coupons, with peers Vornado (VNO) and SL Green (SLG) also at risk. Regionals like Fifth Third (FITB), Key (KEY), Regions (RF), and Zions (ZION) all carry CRE-heavy books just as delinquency is accelerating. Airlines (AAL, UAL, DAL, LUV) and cruise names (RCL, CCL) have high leverage while the labor market and discretionary spending is softening.
On the flip side, low-multiple densives look better. Cigna (CI) and Elevance (ELV), UnitedHealth (UNH) trade at 9–10× forward earnings with stable memberships. Pfizer (PFE) raised guidance this month and still sits at \~8× earnings, while Bristol-Myers (BMY) is at 7–8× with a healthy dividend. Prudential (PRU) and MetLife (MET) both benefit from reinvesting at higher yields now and a duration kicker when long rates ease. Utilities like NextEra (NEE), Duke (DUK), Southern (SO), and Exelon (EXC) provide excellent cash flows and historically rerate higher when the Fed pivots. Costco (COST), Walmart (WMT), Procter & Gamble (PG), PepsiCo (PEP), and McDonald’s (MCD) won’t see a surge in demand, but they hold up because groceries, soap, and cheap meals don’t get cut when household budgets shrink, unlike apparel or travel. Defense stocks Lockheed (LMT), Northrop (NOC), RTX, and LHX carry funded backlogs and are less sensitive to credit conditions.

Is this something to do with certain types of stocks/companies that their dividends are always at a consistent/flat cost basis? Some examples from my account;
* WTRG - 2 dividends both at $35 cost basis
* WSR - 7 all at $13.33, 6 at $12.86, couple others at other one off amounts
* STAG - 7 all at $30
* SPG - 2 at $160, 2 at $170, 2 at $180
* SLG - 3 at $30
* SHEL - 2 at $70
* SBRA - 4 at $17.50
* RTX - 4 at $150
* PBT - 8 at $10
* OXY - 2 at $50
* **O - 14 at $50**
Not a really big deal in the grand scheme, money is money, it just seems so odd to me. Since initial cost basis is based off of the share price at the time of purchase, I would imagine further "purchases," meaning my reinvested dividends, would be at the then current share price, no?
I'm guessing this mostly has to do with how these companies are classified/set up (Trusts?) but RTX is not a trust and I find it hard to believe their share price stayed the same over 4 quarters. Can someone ELI5 this to me?