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

Digital Realty Trust, Inc. (NYSE:DLR) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 14th will be paid a dividend of 1.22 per share by the real estate investment trust on Monday, March 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, March 14th.

Digital Realty Trust has raised its dividend by an average of 1.7% per year over the last three years. Digital Realty Trust has a payout ratio of 310.8% 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 $7.65 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 Stock Up 0.9 %

DLR opened at $146.98 on Wednesday. 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 company has a market cap of $49.48 billion, a price-to-earnings ratio of 90.73, a PEG ratio of 4.38 and a beta of 0.65. The business’s fifty day moving average is $167.42 and its two-hundred day moving average is $170.08. Digital Realty Trust has a one year low of $135.54 and a one year high of $198.00.

Digital Realty Trust (NYSE:DLR) last issued its earnings results on Thursday, February 13th. The real estate investment trust reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $1.46. Digital Realty Trust had a return on equity of 2.97% and a net margin of 10.85%. Analysts anticipate that Digital Realty Trust will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on DLR. Truist Financial dropped their price objective on shares of Digital Realty Trust from $201.00 to $185.00 and set a “buy” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Digital Realty Trust from a “hold” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $194.00 in a report on Wednesday, January 15th. StockNews.com lowered Digital Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 22nd. JMP Securities reiterated a “market outperform” rating and set a $220.00 target price on shares of Digital Realty Trust in a research report on Tuesday, February 18th. Finally, UBS Group upgraded shares of Digital Realty Trust from a “neutral” rating to a “buy” rating and boosted their target price for the company from $147.00 to $205.00 in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.11.

Insider Buying and Selling at Digital Realty Trust

In other Digital Realty Trust news, CFO Matt Mercier sold 2,518 shares of Digital Realty Trust stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $187.40, for a total transaction of $471,873.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

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.