Eastern Bank Reduces Stock Holdings in Digital Realty Trust, Inc. $DLR

Eastern Bank lowered its stake in Digital Realty Trust, Inc. (NYSE:DLR) by 21.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,713 shares of the real estate investment trust’s stock after selling 987 shares during the quarter. Eastern Bank’s holdings in Digital Realty Trust were worth $647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DLR. Canada Pension Plan Investment Board raised its stake in shares of Digital Realty Trust by 63.0% in the first quarter. Canada Pension Plan Investment Board now owns 7,144,737 shares of the real estate investment trust’s stock worth $1,023,769,000 after buying an additional 2,760,286 shares during the period. Nuveen LLC bought a new position in shares of Digital Realty Trust in the first quarter worth about $342,389,000. Vanguard Group Inc. raised its stake in Digital Realty Trust by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 52,378,860 shares of the real estate investment trust’s stock valued at $7,505,367,000 after purchasing an additional 925,674 shares during the period. Pictet Asset Management Holding SA raised its stake in Digital Realty Trust by 41.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,129,819 shares of the real estate investment trust’s stock valued at $448,422,000 after purchasing an additional 918,549 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Digital Realty Trust by 37.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,009,673 shares of the real estate investment trust’s stock valued at $431,256,000 after purchasing an additional 816,334 shares during the period. Institutional investors own 99.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on DLR shares. Stifel Nicolaus lifted their target price on Digital Realty Trust from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Raymond James Financial lifted their target price on Digital Realty Trust from $190.00 to $205.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Truist Financial set a $199.00 target price on Digital Realty Trust and gave the company a “buy” rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Digital Realty Trust in a research note on Wednesday. Finally, Citigroup reissued a “buy” rating on shares of Digital Realty Trust in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.44.

Digital Realty Trust Stock Performance

NYSE:DLR opened at $168.62 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.22 and a quick ratio of 2.22. Digital Realty Trust, Inc. has a 1 year low of $129.95 and a 1 year high of $198.00. The stock’s 50 day simple moving average is $169.81 and its two-hundred day simple moving average is $166.82. The company has a market cap of $57.51 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 4.75 and a beta of 0.96.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.13. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%.The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. As a group, equities analysts anticipate that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $1.22 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.9%. Digital Realty Trust’s payout ratio is 128.08%.

Insider Activity at Digital Realty Trust

In other news, CEO Andrew Power sold 53,269 shares of Digital Realty Trust stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $175.16, for a total value of $9,330,598.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Digital Realty Trust Company Profile

Digital Realty Trust, Inc operates as a real estate investment trust, which engages in the provision of data center, colocation and interconnection solutions. It serves the following industries: artificial intelligence (AI), networks, cloud, digital media, mobile, financial services, healthcare, and gaming.