Digital Realty Trust (NYSE:DLR) Stock Gets Price Target Reduction from Freedom Broker

Digital Realty Trust (NYSE:DLR) had its target price reduced by Freedom Broker from $233.00 to $227.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also commented on DLR. Canadian Imperial Bank of Commerce initiated coverage on Digital Realty Trust in a research note on Tuesday, October 20th. They set an “outperform” rating and a $213.00 price objective on the stock. Cantor Fitzgerald increased their target price on Digital Realty Trust from $221.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company raised their price target on Digital Realty Trust from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. KeyCorp reaffirmed a “sector weight” rating on shares of Digital Realty Trust in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Digital Realty Trust from $230.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Digital Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $221.53.

Digital Realty Trust Price Performance

Digital Realty Trust stock opened at $180.26 on Friday. Digital Realty Trust has a 12 month low of $146.23 and a 12 month high of $208.14. The company has a current ratio of 0.72, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $181.45 and its 200-day moving average is $182.91. The company has a market capitalization of $66.88 billion, a price-to-earnings ratio of 75.42, a PEG ratio of 3.47 and a beta of 0.97.

Digital Realty Trust (NYSE:DLR) last announced its earnings results on Thursday, October 29th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.75 billion. Digital Realty Trust had a return on equity of 3.68% and a net margin of 13.06%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 EPS. Equities research analysts expect that Digital Realty Trust will post 8.37 EPS for the current year.

Digital Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, September 15th. Digital Realty Trust’s payout ratio is 204.18%.

Insider Buying and Selling at Digital Realty Trust

In other news, Director Mark Patterson sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $193.96, for a total transaction of $38,792.00. Following the completion of the sale, the director owned 6,322 shares of the company’s stock, valued at $1,226,215.12. This trade represents a 3.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Digital Realty Trust

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Digital Realty Trust in the 2nd quarter worth $7,277,032,000. Bank of America Corp DE grew its position in Digital Realty Trust by 6.0% in the 1st quarter. Bank of America Corp DE now owns 9,470,695 shares of the real estate investment trust’s stock valued at $1,706,714,000 after acquiring an additional 534,158 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Digital Realty Trust during the 2nd quarter worth approximately $1,178,095,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Digital Realty Trust by 17,256.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,890,993 shares of the real estate investment trust’s stock valued at $878,325,000 after purchasing an additional 4,862,814 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Digital Realty Trust by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,850,416 shares of the real estate investment trust’s stock worth $874,046,000 after acquiring an additional 35,850 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

Digital Realty Trust Company Profile

Digital Realty Trust, Inc is a real estate investment trust that owns, operates and develops data center facilities for businesses, cloud service providers, information technology companies and telecommunications organizations. The company provides the physical infrastructure needed to support data storage, networking, cloud computing and other digital operations.

Its services include data center colocation, interconnection and private connectivity solutions. Digital Realty also offers access to cloud and network providers through its PlatformDIGITAL platform, which is designed to help customers deploy, connect and manage their digital infrastructure across multiple locations.

Founded in 2001, Digital Realty serves customers through a global portfolio of data centers and related facilities across North America, Europe, Asia-Pacific and Latin America.