PineBridge Investments L.P. Cuts Position in Digital Realty Trust Inc. (DLR)
PineBridge Investments L.P. decreased its position in shares of Digital Realty Trust Inc. (NYSE:DLR) by 84.3% during the second quarter, Holdings Channel reports. The institutional investor owned 5,974 shares of the real estate investment trust’s stock after selling 32,066 shares during the period. PineBridge Investments L.P.’s holdings in Digital Realty Trust were worth $651,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. increased its position in Digital Realty Trust by 12.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 100,537 shares of the real estate investment trust’s stock worth $7,603,000 after buying an additional 10,996 shares in the last quarter. Norges Bank bought a new position in Digital Realty Trust during the fourth quarter worth $48,880,000. DnB Asset Management AS bought a new position in Digital Realty Trust during the first quarter worth $1,002,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Digital Realty Trust by 19.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,947 shares of the real estate investment trust’s stock worth $4,066,000 after buying an additional 7,630 shares in the last quarter. Finally, Boston Advisors LLC increased its position in Digital Realty Trust by 9.7% in the first quarter. Boston Advisors LLC now owns 3,795 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 335 shares in the last quarter.
Digital Realty Trust Inc. (NYSE:DLR) opened at 92.92 on Monday. The company’s 50 day moving average is $101.19 and its 200 day moving average is $96.42. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 206.49 and a beta of 0.34. Digital Realty Trust Inc. has a 12-month low of $62.42 and a 12-month high of $113.21.
Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The business earned $514.90 million during the quarter, compared to analyst estimates of $507.72 million. Digital Realty Trust had a net margin of 7.82% and a return on equity of 5.02%. The company’s revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. Analysts forecast that Digital Realty Trust Inc. will post $5.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.80%. Digital Realty Trust’s payout ratio is currently 765.22%.
A number of research analysts have recently weighed in on DLR shares. Jefferies Group reissued a “buy” rating and set a $108.00 target price (up from $106.00) on shares of Digital Realty Trust in a research report on Tuesday, May 24th. Wells Fargo & Co. started coverage on shares of Digital Realty Trust in a research report on Tuesday, May 31st. They set an “outperform” rating for the company. Citigroup Inc. reduced their target price on shares of Digital Realty Trust from $108.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Deutsche Bank AG reissued a “buy” rating and set a $114.00 target price (up from $102.00) on shares of Digital Realty Trust in a research report on Monday, July 18th. Finally, Barclays PLC upped their price target on shares of Digital Realty Trust from $110.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $97.35.
In other Digital Realty Trust news, insider Edward F. Sham sold 14,701 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $92.50, for a total value of $1,359,842.50. Following the completion of the transaction, the insider now directly owns 19,039 shares in the company, valued at $1,761,107.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.
Digital Realty Trust Company Profile
Digital Realty Trust, Inc is a real estate investment trust (REIT). The Company owns, acquires, develops and manages technology-related real estate. 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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