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

Key Points

• Digital Realty Trust, Inc. has announced a quarterly dividend of $1.22 per share, with stockholders of record on September 15th set to receive the payment on September 30th.
• The company currently has a payout ratio of 305.0%, indicating it relies on its balance sheet rather than earnings to cover its dividend payments.
• Analysts have set a price target increase for Digital Realty Trust, with ratings ranging from hold to strong buy, reflecting a positive outlook on the stock's performance.

Digital Realty Trust, Inc. (NYSE:DLR - Get Free Report) declared a quarterly dividend on Monday, August 11th, RTT News reports. Shareholders of record on Monday, September 15th will be paid a dividend of 1.22 per share by the real estate investment trust on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, September 15th.

Digital Realty Trust has a dividend payout ratio of 305.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Performance

NYSE:DLR traded down $2.41 on Thursday, reaching $166.17. 1,313,018 shares of the company's stock were exchanged, compared to its average volume of 1,467,827. Digital Realty Trust has a 52 week low of $129.95 and a 52 week high of $198.00. The firm has a market cap of $56.67 billion, a price-to-earnings ratio of 43.61, a P/E/G ratio of 4.85 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a fifty day simple moving average of $173.86 and a 200-day simple moving average of $163.48.

Digital Realty Trust (NYSE:DLR - Get Free Report) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.13. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business posted $1.65 earnings per share. Digital Realty Trust's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that Digital Realty Trust will post 7.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

DLR has been the topic of several research reports. Bank of America initiated coverage on shares of Digital Realty Trust in a research note on Monday, May 19th. They set a "buy" rating and a $210.00 price target on the stock. Guggenheim began coverage on shares of Digital Realty Trust in a report on Wednesday, July 9th. They issued a "neutral" rating on the stock. Stifel Nicolaus lifted 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, July 25th. Barclays boosted their target price on shares of Digital Realty Trust from $139.00 to $140.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. Finally, Raymond James Financial lifted their price target on Digital Realty Trust from $190.00 to $205.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $190.68.

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.