Digital Realty Trust's Series J Preferred Stock Crosses Above 6.5% Yield Territory

Shares of Digital Realty Trust's 5.250% Series J cumulative redeemable preferred (DLR.PRJ) were yielding above 6.5%, based on the quarterly dividend annualized to $1.3125. The security traded as low as $20.19 on the day, implying the market yield exceeded the 5.25% coupon by roughly 125 bps. This is a market-price/yield observation for the preferred issue rather than new corporate guidance or fundamentals.

Analysis

Shares of Digital Realty Trust's 5.250% Series J cumulative redeemable preferred (DLR.PRJ) were yielding above 6.5%, based on the quarterly dividend annualized to $1.3125. The security traded as low as $20.19 on the day, implying the market yield exceeded the 5.25% coupon by roughly 125 bps. This is a market-price/yield observation for the preferred issue rather than new corporate guidance or fundamentals.