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

Digital Realty Trust, Inc. (NYSE:DLR) announced a quarterly dividend on Thursday, May 29th, RTT News reports. Investors of record on Friday, June 13th will be given a dividend of 1.22 per share by the real estate investment trust on Monday, June 30th. This represents a $4.88 annualized dividend and a yield of 2.83%.

Digital Realty Trust has increased its dividend by an average of 1.7% annually over the last three years. Digital Realty Trust has a payout ratio of 305.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Digital Realty Trust to earn $7.65 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 63.8%.

Digital Realty Trust Trading Up 1.6%

NYSE DLR opened at $172.32 on Friday. The firm’s fifty day moving average is $155.93 and its two-hundred day moving average is $166.83. Digital Realty Trust has a one year low of $129.95 and a one year high of $198.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.61 and a current ratio of 2.07. The firm has a market cap of $58.04 billion, a PE ratio of 106.37, a P/E/G ratio of 4.38 and a beta of 0.93.

Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.04. Digital Realty Trust had a return on equity of 2.97% and a net margin of 10.85%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm posted $1.67 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Digital Realty Trust will post 7.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

DLR has been the topic of several recent research reports. Wall Street Zen cut shares of Digital Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Mizuho dropped their price target on shares of Digital Realty Trust from $211.00 to $177.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Wells Fargo & Company reduced their price objective on shares of Digital Realty Trust from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on Digital Realty Trust from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Citigroup reduced their price target on Digital Realty Trust from $188.00 to $174.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Digital Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $185.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Digital Realty Trust stock. Bison Wealth LLC raised its stake in shares of Digital Realty Trust, Inc. (NYSE:DLR) by 17.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,653 shares of the real estate investment trust’s stock after buying an additional 390 shares during the period. Bison Wealth LLC’s holdings in Digital Realty Trust were worth $471,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Digital Realty Trust Company Profile

Digital Realty Trust, Inc operates as a real estate investment trust, which engages in the provision of data center, colocation and interconnection solutions. It serves the following industries: artificial intelligence (AI), networks, cloud, digital media, mobile, financial services, healthcare, and gaming.