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

Digital Realty Trust, Inc. (NYSE:DLR) declared a quarterly dividend on Monday, November 4th, RTT News reports. Investors of record on Friday, December 13th will be paid 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 2.70%.

Digital Realty Trust has increased its dividend payment by an average of 2.9% per year over the last three years. Digital Realty Trust has a dividend payout ratio of 384.3% 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 $7.09 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 Price Performance

Shares of DLR opened at $181.06 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81. The firm’s fifty day simple moving average is $161.89 and its 200-day simple moving average is $152.79. The firm has a market capitalization of $59.28 billion, a price-to-earnings ratio of 152.15, a PEG ratio of 5.66 and a beta of 0.59. Digital Realty Trust has a twelve month low of $126.22 and a twelve month high of $193.88.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on DLR shares. Barclays boosted their price objective on Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Raymond James increased their target price on shares of Digital Realty Trust from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Hsbc Global Res upgraded Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on Digital Realty Trust from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial boosted their target price on Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.