Digital Realty Trust, Inc. (DLR) Delivers With Its Latest Quarterly Dividend Raise

Much to the delight of its shareholders, Digital Realty Trust, Inc. (DLR), the technology-related real estate investment trust (“REIT”), has announced first-quarter 2017 common stock cash dividend of 93 cents per share.

This is the twelfth consecutive year that the company has hiked the dividend and marks an increase of 5.7% from the prior payment.

San Francisco, CA-based Digital Realty is responsible for owning, acquiring, repositioning and managing technology-related real estate. The REIT supports the data center, collocation and interconnection strategies of over 2,200 firms spread across North America, Europe, Asia and Australia.

The latest hike in dividend indicates the company’s expectation of persistent improvement in cash flow. In fact, the company has hiked dividend every year since its initial public offering in 2004.

The new dividend will be paid on Mar 31 to shareholders of record as on March 15. Currently, Digital Realty carries a Zacks Rank #3 (Hold).

Shares of Digital Realty outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. During that time frame, the shares of the company returned 21.4%, whereas the industry gained 8.6%.

Investors interested in the REIT and Equity Trust – Other industry, may consider stocks like Ashford Hospitality Prime Inc (AHP), CoreSite Realty Corp (COR) and Hudson Pacific Properties Inc (HPP). All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Over the past 30 days, Ashford Hospitality Prime’s funds from operations (FFO) per share for first-quarter 2017 escalated 10.8% to 41 cents per share.

Over the past 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 escalated 5% to $1.06 per share.

Hudson Pacific Properties’ first-quarter 2017 FFO per share estimates remained unchanged at 48 cents per share, over the past 30 days.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.

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