Digital Realty Trust, Inc. (NYSE:DLR) Declares Quarterly Dividend of $0.93
Digital Realty Trust, Inc. (NYSE:DLR) declared a quarterly dividend on Monday, August 7th, RTT News reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.93 per share by the real estate investment trust on Friday, September 29th. This represents a $3.72 annualized dividend and a dividend yield of 3.25%.
Digital Realty Trust has raised its dividend by an average of 4.4% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Digital Realty Trust has a dividend payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Digital Realty Trust to earn $1.93 per share next year, which means the company may not be able to cover its $3.72 annual dividend with an expected future payout ratio of 192.7%.
Digital Realty Trust (NYSE DLR) traded down 0.56% on Monday, hitting $114.56. The stock had a trading volume of 673,350 shares. Digital Realty Trust has a 52 week low of $85.63 and a 52 week high of $121.53. The firm has a 50-day moving average of $114.34 and a 200 day moving average of $110.74. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of 46.53 and a beta of -0.03.
Digital Realty Trust (NYSE:DLR) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.05. Digital Realty Trust had a return on equity of 12.39% and a net margin of 21.27%. The firm had revenue of $565.99 million during the quarter, compared to analyst estimates of $559.93 million. During the same quarter in the previous year, the business earned $1.42 EPS. Digital Realty Trust’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts predict that Digital Realty Trust will post $1.58 earnings per share for the current year.
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In other news, SVP Joshua A. Mills sold 9,211 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $120.00, for a total transaction of $1,105,320.00. Following the transaction, the senior vice president now directly owns 13,377 shares in the company, valued at approximately $1,605,240. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.40% of the company’s stock.
DLR has been the topic of several research analyst reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Digital Realty Trust in a report on Monday, May 1st. BidaskClub upgraded Digital Realty Trust from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Deutsche Bank AG lifted their price objective on Digital Realty Trust from $105.00 to $109.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Wells Fargo & Company cut Digital Realty Trust from an “outperform” rating to a “market perform” rating and set a $118.00 price objective on the stock. in a report on Wednesday, May 17th. Finally, Stifel Nicolaus lifted their price objective on Digital Realty Trust from $110.00 to $117.00 and gave the stock a “hold” rating in a report on Monday, May 1st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Digital Realty Trust has an average rating of “Buy” and an average price target of $116.67.
Digital Realty Trust Company Profile
Digital Realty Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of owning, acquiring, developing and operating data centers. The Company is focused on providing data center and colocation solutions for domestic and international tenants across a range of industry verticals ranging from financial services, cloud and information technology services, to manufacturing, energy, healthcare and consumer products.
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