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

Digital Realty Trust, Inc. (NYSE:DLR) declared a quarterly dividend on Monday, November 4th, RTT News reports. Shareholders of record on Friday, December 13th will be given a dividend of 1.22 per share by the real estate investment trust on Friday, January 17th. This represents a $4.88 dividend on an annualized basis and a yield of 2.75%.

Digital Realty Trust has raised its dividend by an average of 2.9% per year over the last three years. Digital Realty Trust has a payout ratio of 384.3% indicating that 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 $7.09 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 68.8%.

Digital Realty Trust Stock Performance

NYSE DLR opened at $177.32 on Tuesday. The company has a market capitalization of $58.06 billion, a P/E ratio of 149.01, a P/E/G ratio of 5.66 and a beta of 0.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.61. Digital Realty Trust has a 52-week low of $126.22 and a 52-week high of $193.88. The company has a fifty day moving average of $161.28 and a 200-day moving average of $152.48.

Digital Realty Trust (NYSE:DLR) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58). The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Digital Realty Trust had a net margin of 8.04% and a return on equity of 2.24%. Digital Realty Trust’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. As a group, equities research analysts predict that Digital Realty Trust will post 6.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DLR shares. Scotiabank boosted their target price on Digital Realty Trust from $157.00 to $178.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Truist Financial boosted their price objective on Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Barclays raised their target price on shares of Digital Realty Trust from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Jefferies Financial Group upped their price target on shares of Digital Realty Trust from $190.00 to $205.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of Digital Realty Trust in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Digital Realty Trust presently has a consensus rating of “Hold” and an average price target of $167.68.

About Digital Realty Trust

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.