Digital Realty Trust, Inc. (DLR) Given Buy Rating at KeyCorp
KeyCorp restated their buy rating on shares of Digital Realty Trust, Inc. (NYSE:DLR) in a research note released on Friday. The brokerage currently has a $130.00 target price on the real estate investment trust’s stock.
Several other equities analysts also recently commented on the stock. BidaskClub upgraded shares of Digital Realty Trust from a hold rating to a buy rating in a report on Thursday. Canaccord Genuity reiterated a buy rating and issued a $127.00 price objective on shares of Digital Realty Trust in a report on Friday, August 18th. Zacks Investment Research downgraded shares of Digital Realty Trust from a buy rating to a hold rating in a report on Wednesday, August 2nd. Stifel Nicolaus reiterated a hold rating and issued a $117.00 price objective on shares of Digital Realty Trust in a report on Friday, July 21st. Finally, Jefferies Group LLC reiterated a hold rating and issued a $120.00 price objective on shares of Digital Realty Trust in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Digital Realty Trust presently has a consensus rating of Buy and a consensus target price of $119.38.
Shares of Digital Realty Trust (DLR) traded up 0.17% during mid-day trading on Friday, reaching $118.14. 646,608 shares of the company were exchanged. The company has a market capitalization of $19.16 billion, a price-to-earnings ratio of 47.99 and a beta of -0.03. Digital Realty Trust has a 12 month low of $85.63 and a 12 month high of $121.53. The firm’s 50-day moving average is $114.15 and its 200-day moving average is $111.83.
Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.05. Digital Realty Trust had a net margin of 21.27% and a return on equity of 12.39%. The firm had revenue of $565.99 million for the quarter, compared to the consensus estimate of $559.93 million. During the same period in the previous year, the company earned $1.42 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Digital Realty Trust will post $1.57 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.72 annualized dividend and a yield of 3.15%. Digital Realty Trust’s dividend payout ratio is 148.21%.
In related news, insider Christopher Sharp sold 25,733 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $116.44, for a total transaction of $2,996,350.52. Following the completion of the sale, the insider now owns 25,733 shares of the company’s stock, valued at $2,996,350.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William G. Laperch bought 1,200 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $25.00 per share, with a total value of $30,000.00. Following the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $30,000. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of DLR. Renaissance Technologies LLC boosted its position in Digital Realty Trust by 45.6% in the first quarter. Renaissance Technologies LLC now owns 397,100 shares of the real estate investment trust’s stock worth $42,247,000 after buying an additional 124,300 shares during the period. Tudor Investment Corp ET AL bought a new position in Digital Realty Trust during the first quarter worth approximately $1,610,000. Northwestern Mutual Investment Management Company LLC boosted its position in Digital Realty Trust by 76.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 32,195 shares of the real estate investment trust’s stock worth $3,425,000 after buying an additional 13,944 shares during the period. Dean Investment Associates LLC boosted its position in Digital Realty Trust by 6.4% in the first quarter. Dean Investment Associates LLC now owns 10,620 shares of the real estate investment trust’s stock worth $1,130,000 after buying an additional 642 shares during the period. Finally, Azimuth Capital Management LLC boosted its position in Digital Realty Trust by 0.6% in the first quarter. Azimuth Capital Management LLC now owns 29,475 shares of the real estate investment trust’s stock worth $3,136,000 after buying an additional 170 shares during the period.
About Digital Realty Trust
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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