Dupont Fabros Technology Inc. (DFT) Rating Increased to Buy at Zacks Investment Research
Dupont Fabros Technology Inc. (NYSE:DFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $48.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price target indicates a potential upside of 11.01% from the company’s previous close.
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 subject of several other reports. Barclays PLC restated an “overweight” rating and issued a $52.00 price objective (up from $49.00) on shares of Dupont Fabros Technology in a research note on Tuesday, July 19th. JPMorgan Chase & Co. raised their price objective on Dupont Fabros Technology from $64.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Jefferies Group restated a “hold” rating on shares of Dupont Fabros Technology in a research note on Monday, August 22nd. SunTrust Banks Inc. began coverage on Dupont Fabros Technology in a research note on Thursday, July 21st. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Raymond James Financial Inc. upgraded Dupont Fabros Technology from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Wednesday, September 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $45.72.
Dupont Fabros Technology (NYSE:DFT) opened at 43.24 on Friday. The company has a 50-day moving average price of $44.56 and a 200-day moving average price of $43.42. Dupont Fabros Technology has a 12-month low of $24.88 and a 12-month high of $48.97. The stock has a market capitalization of $3.25 billion, a PE ratio of 10810.00 and a beta of 0.73.
Dupont Fabros Technology (NYSE:DFT) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.01. Dupont Fabros Technology had a return on equity of 20.26% and a net margin of 7.67%. The firm earned $128.54 million during the quarter, compared to analysts’ expectations of $127.15 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts expect that Dupont Fabros Technology will post $2.78 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of DFT. Cohen & Steers Inc. raised its stake in shares of Dupont Fabros Technology by 77.8% in the second quarter. Cohen & Steers Inc. now owns 6,736,296 shares of the real estate investment trust’s stock worth $320,244,000 after buying an additional 2,947,661 shares in the last quarter. Capital Growth Management LP purchased a new stake in shares of Dupont Fabros Technology during the first quarter worth about $50,257,000. Vanguard Group Inc. raised its stake in shares of Dupont Fabros Technology by 7.2% in the second quarter. Vanguard Group Inc. now owns 12,682,278 shares of the real estate investment trust’s stock worth $602,915,000 after buying an additional 846,555 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Dupont Fabros Technology during the second quarter worth about $31,352,000. Finally, Norges Bank purchased a new stake in shares of Dupont Fabros Technology during the fourth quarter worth about $18,237,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.
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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