Digital Realty Trust, Inc. (DLR) to Distribute Quarterly Dividend of $1.22 on June 28th

Digital Realty Trust, Inc. (NYSE:DLR) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Shareholders 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 yield of 3.40%.

Digital Realty Trust has increased its dividend payment by an average of 2.9% annually over the last three years. Digital Realty Trust has a payout ratio of 396.7% 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 Price Performance

Digital Realty Trust stock opened at $143.54 on Friday. Digital Realty Trust has a 52-week low of $86.33 and a 52-week high of $154.18. The company’s 50 day moving average is $142.46 and its two-hundred day moving average is $137.94. The firm has a market cap of $44.84 billion, a PE ratio of 39.87, a price-to-earnings-growth ratio of 3.34 and a beta of 0.55. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.91.

Insider Activity

In other news, Director Jean F. H. P. Mandeville sold 3,400 shares of Digital Realty Trust stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $145.50, for a total value of $494,700.00. Following the sale, the director now owns 8,413 shares of the company’s stock, valued at $1,224,091.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Digital Realty Trust from $154.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 29th. TD Cowen raised their price objective on shares of Digital Realty Trust from $116.00 to $122.00 and gave the company a “hold” rating in a report on Friday, May 3rd. UBS Group lifted their price target on shares of Digital Realty Trust from $143.00 to $147.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Barclays lifted their price target on shares of Digital Realty Trust from $110.00 to $119.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley lifted their price target on shares of Digital Realty Trust from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $142.65.

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.