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

Digital Realty Trust, Inc. (NYSE:DLR) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Investors of record on Friday, June 14th will be paid 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 raised 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% 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 research 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 Trading Up 2.3 %

Shares of DLR stock opened at $143.54 on Friday. Digital Realty Trust has a 1 year low of $86.33 and a 1 year high of $154.18. The firm’s fifty day simple moving average is $142.46 and its 200 day simple moving average is $137.94. The firm has a market capitalization of $44.84 billion, a P/E ratio of 39.87, a price-to-earnings-growth ratio of 3.34 and a beta of 0.55. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.91.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DLR. Stifel Nicolaus boosted their price target on shares of Digital Realty Trust from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their price target on shares of Digital Realty Trust from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Evercore ISI reissued an “outperform” rating and issued a $154.00 price target on shares of Digital Realty Trust in a report on Wednesday, March 27th. UBS Group boosted their price target on shares of Digital Realty Trust from $143.00 to $147.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Barclays boosted their price target on shares of Digital Realty Trust from $110.00 to $119.00 and gave the company an “underweight” rating in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Digital Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $142.65.

Insider Buying and Selling

In related news, Director Jean F. H. P. Mandeville sold 3,400 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $145.50, for a total transaction of $494,700.00. Following the transaction, the director now owns 8,413 shares in the company, valued at approximately $1,224,091.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by corporate insiders.

Digital Realty Trust Company Profile

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.