Barclays PLC Reaffirms Buy Rating for Digital Realty Trust, Inc. (DLR)
Barclays PLC restated their buy rating on shares of Digital Realty Trust, Inc. (NYSE:DLR) in a research report report published on Friday morning. They currently have a $132.00 price target on the real estate investment trust’s stock.
A number of other analysts also recently weighed in on the stock. BidaskClub raised shares of Digital Realty Trust from a hold rating to a buy rating in a report on Saturday, June 24th. Wells Fargo & Company downgraded shares of Digital Realty Trust from an outperform rating to a market perform rating and set a $118.00 price target for the company. in a report on Wednesday, May 17th. Cowen and Company raised shares of Digital Realty Trust from a market perform rating to an outperform rating and increased their price target for the company from $106.00 to $126.00 in a report on Monday, June 12th. Macquarie reissued a neutral rating and issued a $105.00 price target on shares of Digital Realty Trust in a report on Tuesday, July 4th. Finally, Jefferies Group LLC reissued a hold rating and issued a $120.00 price target on shares of Digital Realty Trust in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $120.08.
Shares of Digital Realty Trust (DLR) opened at 120.63 on Friday. The company has a market cap of $19.57 billion, a P/E ratio of 49.00 and a beta of -0.01. Digital Realty Trust has a 52-week low of $85.63 and a 52-week high of $122.13. The stock has a 50 day moving average of $116.07 and a 200 day moving average of $112.66.
Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. Digital Realty Trust had a net margin of 21.27% and a return on equity of 12.39%. The firm had revenue of $565.99 million during the quarter, compared to the consensus estimate of $559.93 million. During the same period in the prior year, the firm earned $1.42 EPS. The business’s revenue was up 9.9% on a year-over-year basis. On average, equities analysts anticipate that Digital Realty Trust will post $1.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, September 14th. Digital Realty Trust’s dividend payout ratio (DPR) is currently 148.21%.
In related news, insider Christopher Sharp sold 25,733 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $116.44, for a total transaction of $2,996,350.52. Following the completion of the sale, the insider now owns 25,733 shares in the company, valued at approximately $2,996,350.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William G. Laperch bought 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average price of $25.00 per share, with a total value of $30,000.00. Following the transaction, the director now directly owns 1,200 shares in the company, valued at $30,000. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC acquired a new stake in shares of Digital Realty Trust during the 2nd quarter worth about $7,500,000. WFG Advisors LP increased its position in shares of Digital Realty Trust by 134.4% during the 2nd quarter. WFG Advisors LP now owns 7,566 shares of the real estate investment trust’s stock worth $855,000 after purchasing an additional 4,338 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Digital Realty Trust by 25.9% during the 2nd quarter. Toronto Dominion Bank now owns 54,116 shares of the real estate investment trust’s stock worth $6,112,000 after purchasing an additional 11,142 shares in the last quarter. Archford Capital Strategies LLC increased its position in shares of Digital Realty Trust by 1,816.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 112,363 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 106,501 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Digital Realty Trust by 20.4% during the 2nd quarter. Cetera Investment Advisers now owns 5,862 shares of the real estate investment trust’s stock worth $664,000 after purchasing an additional 993 shares in the last quarter.
Digital Realty Trust Company Profile
Digital Realty Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of owning, acquiring, developing and operating data centers. 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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