Zacks Investment Research Lowers Dupont Fabros Technology Inc. (DFT) to Hold
Dupont Fabros Technology Inc. (NYSE:DFT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “DuPont Fabros Technology, Inc. is a leading owner, developer, operator and manager of wholesale data centers and a real estate investment trust. The Company’s data centers are highly specialized, secure facilities used primarily by national and international technology companies to house, power and cool the computer servers that support many of their most critical business processes. DuPont Fabros Technology is headquartered in Washington, DC. “
DFT has been the topic of several other reports. Barclays PLC reissued an “overweight” rating and set a $52.00 target price (up from $49.00) on shares of Dupont Fabros Technology in a research report on Tuesday, July 19th. JPMorgan Chase & Co. raised their price target on Dupont Fabros Technology from $64.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Stifel Nicolaus raised Dupont Fabros Technology from a “hold” rating to a “buy” rating and lowered their price target for the company from $45.00 to $43.00 in a research report on Thursday, October 6th. They noted that the move was a valuation call. Jefferies Group reaffirmed a “hold” rating on shares of Dupont Fabros Technology in a research report on Monday, August 22nd. Finally, SunTrust Banks Inc. assumed coverage on Dupont Fabros Technology in a research report on Thursday, July 21st. They issued a “buy” rating and a $55.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $45.57.
Shares of Dupont Fabros Technology (NYSE:DFT) traded up 2.34% during mid-day trading on Tuesday, hitting $42.85. The stock had a trading volume of 969,948 shares. The firm has a 50 day moving average of $41.93 and a 200 day moving average of $43.74. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 10712.50 and a beta of 0.60. Dupont Fabros Technology has a one year low of $28.83 and a one year high of $48.97.
Dupont Fabros Technology (NYSE:DFT) last posted its earnings results on Thursday, July 28th. The real estate investment trust reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $128.54 million for the quarter, compared to analyst estimates of $127.15 million. Dupont Fabros Technology had a return on equity of 20.26% and a net margin of 7.67%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. On average, analysts forecast that Dupont Fabros Technology will post $2.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, October 7th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Wednesday, October 5th. Dupont Fabros Technology’s dividend payout ratio is -2,349.71%.
A number of hedge funds and other institutional investors have recently made changes to their positions in DFT. Barclays PLC boosted its position in shares of Dupont Fabros Technology by 11.3% in the first quarter. Barclays PLC now owns 47,549 shares of the real estate investment trust’s stock worth $1,902,000 after buying an additional 4,818 shares in the last quarter. A.R.T. Advisors LLC boosted its position in Dupont Fabros Technology by 769.7% in the first quarter. A.R.T. Advisors LLC now owns 69,151 shares of the real estate investment trust’s stock worth $2,802,000 after buying an additional 61,200 shares during the period. Legal & General Group Plc boosted its position in Dupont Fabros Technology by 22.3% in the first quarter. Legal & General Group Plc now owns 146,592 shares of the real estate investment trust’s stock worth $5,943,000 after buying an additional 26,760 shares during the period. Renaissance Technologies LLC boosted its position in Dupont Fabros Technology by 21.3% in the first quarter. Renaissance Technologies LLC now owns 1,245,800 shares of the real estate investment trust’s stock worth $50,492,000 after buying an additional 218,400 shares during the period. Finally, Geode Capital Management LLC boosted its position in Dupont Fabros Technology by 12.4% in the first quarter. Geode Capital Management LLC now owns 575,804 shares of the real estate investment trust’s stock worth $23,337,000 after buying an additional 63,682 shares during the period. Hedge funds and other institutional investors own 98.19% of the company’s stock.
About Dupont Fabros Technology
DuPont Fabros Technology, Inc (DFT) is a real estate investment trust (REIT). The Company is a self-administered and self-managed company that owns, acquires, develops and operates wholesale data centers. The Company’s customers outsource their applications, and include national and international enterprises across various industries, such as technology, Internet content providers, media, communications, cloud providers, healthcare and financial services.
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