Digital Realty Trust (NYSE:DLR) Given New $118.00 Price Target at HSBC

Digital Realty Trust (NYSE:DLR) had its price objective increased by HSBC from $115.00 to $118.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “reduce” rating on the real estate investment trust’s stock. HSBC’s target price points to a potential downside of 19.74% from the company’s previous close.

Several other research analysts also recently issued reports on DLR. Citigroup upped their price objective on Digital Realty Trust from $154.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Stifel Nicolaus increased their price target on Digital Realty Trust from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Evercore ISI reiterated an “outperform” rating and issued a $154.00 target price on shares of Digital Realty Trust in a report on Wednesday, March 27th. TD Cowen raised their price objective on Digital Realty Trust from $116.00 to $122.00 and gave the company a “hold” rating in a research note on Friday. Finally, Morgan Stanley raised their price objective on Digital Realty Trust from $100.00 to $108.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $142.65.

Digital Realty Trust Price Performance

Shares of DLR stock traded up $6.87 on Friday, reaching $147.02. The company had a trading volume of 3,309,689 shares, compared to its average volume of 1,971,045. The stock has a market capitalization of $45.93 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 3.14 and a beta of 0.55. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. Digital Realty Trust has a one year low of $86.33 and a one year high of $154.18. The business’s 50-day moving average is $142.09 and its 200 day moving average is $137.15.

Insider Transactions at Digital Realty Trust

In related news, Director Jean F. H. P. Mandeville sold 3,400 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $145.50, for a total transaction of $494,700.00. Following the sale, the director now directly owns 8,413 shares of the company’s stock, valued at $1,224,091.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BI Asset Management Fondsmaeglerselskab A S raised its stake in Digital Realty Trust by 7.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 62,225 shares of the real estate investment trust’s stock valued at $8,963,000 after purchasing an additional 4,578 shares during the period. Smith Salley Wealth Management boosted its holdings in shares of Digital Realty Trust by 5.3% in the 1st quarter. Smith Salley Wealth Management now owns 8,765 shares of the real estate investment trust’s stock worth $1,262,000 after purchasing an additional 443 shares during the period. Jennison Associates LLC boosted its holdings in shares of Digital Realty Trust by 86.3% in the 1st quarter. Jennison Associates LLC now owns 336,578 shares of the real estate investment trust’s stock worth $48,481,000 after purchasing an additional 155,926 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of Digital Realty Trust by 5.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,579 shares of the real estate investment trust’s stock worth $6,133,000 after purchasing an additional 2,077 shares during the period. Finally, Consolidated Planning Corp purchased a new position in shares of Digital Realty Trust in the 1st quarter worth approximately $267,000. Institutional investors own 99.71% of the company’s stock.

About Digital Realty Trust

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation and efficiently managing Data Gravity challenges.