Digital Realty Trust, Inc. (NYSE:DLR) Plans Quarterly Dividend of $1.22

Digital Realty Trust, Inc. (NYSE:DLR) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Friday, June 14th will be given a dividend of 1.22 per share by the real estate investment trust on Friday, June 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.48%.

Digital Realty Trust has raised its dividend payment by an average of 2.9% annually over the last three years. Digital Realty Trust has a payout ratio of 387.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Digital Realty Trust to earn $7.18 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 68.0%.

Digital Realty Trust Stock Performance

DLR traded down $4.38 on Wednesday, reaching $140.25. The company had a trading volume of 6,515,155 shares, compared to its average volume of 2,013,553. The company’s fifty day moving average is $142.51 and its 200 day moving average is $137.93. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market cap of $43.82 billion, a P/E ratio of 39.05, a P/E/G ratio of 3.34 and a beta of 0.55. Digital Realty Trust has a fifty-two week low of $86.33 and a fifty-two week high of $154.18.

Insider Activity

In other news, Director Jean F. H. P. Mandeville sold 3,400 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $145.50, for a total transaction of $494,700.00. Following the transaction, the director now owns 8,413 shares of the company’s stock, valued at approximately $1,224,091.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DLR has been the subject of a number of recent research reports. HSBC boosted their price objective on shares of Digital Realty Trust from $115.00 to $118.00 and gave the company a “reduce” rating in a report on Friday, May 3rd. Scotiabank lowered Digital Realty Trust from a “sector outperform” rating to a “sector perform” rating and set a $157.00 price objective on the stock. in a research note on Friday, February 16th. Morgan Stanley upped their target price on Digital Realty Trust from $100.00 to $108.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Truist Financial raised their price target on Digital Realty Trust from $145.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $144.00 price objective on shares of Digital Realty Trust in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $142.65.

Digital Realty Trust Company Profile

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation and efficiently managing Data Gravity challenges.