Canadian Imperial Bank of Commerce Upgrades Digital Realty Trust (NYSE:DLR) to Strong-Buy

Digital Realty Trust (NYSE:DLR) was upgraded by Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

Several other equities analysts have also weighed in on DLR. Weiss Ratings lowered shares of Digital Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. BTIG Research raised their price target on shares of Digital Realty Trust from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. KeyCorp reaffirmed a “sector weight” rating on shares of Digital Realty Trust in a research report on Friday, July 24th. Wells Fargo & Company upgraded Digital Realty Trust from an “overweight” rating to a “buy” rating in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald increased their price objective on Digital Realty Trust from $211.00 to $221.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Digital Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $219.78.

Digital Realty Trust Trading Down 3.2%

Shares of DLR stock opened at $170.72 on Tuesday. The company’s 50-day moving average price is $183.43 and its 200-day moving average price is $187.03. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.68. The stock has a market cap of $63.34 billion, a price-to-earnings ratio of 82.87, a PEG ratio of 3.38 and a beta of 0.99. Digital Realty Trust has a twelve month low of $146.23 and a twelve month high of $208.14.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.77). Digital Realty Trust had a return on equity of 3.34% and a net margin of 11.80%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. Digital Realty Trust’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, equities analysts predict that Digital Realty Trust will post 8.40 earnings per share for the current year.

Insider Activity at Digital Realty Trust

In other news, Director Mark Patterson sold 200 shares of the company’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 value of $38,792.00. Following the transaction, the director directly owned 6,322 shares in the company, valued at approximately $1,226,215.12. This represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Digital Realty Trust

Several institutional investors have recently added to or reduced their stakes in DLR. Capital Investment Advisors LLC boosted its position in shares of Digital Realty Trust by 3.3% during the third quarter. Capital Investment Advisors LLC now owns 78,842 shares of the real estate investment trust’s stock worth $13,839,000 after buying an additional 2,527 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in shares of Digital Realty Trust by 2.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,055 shares of the real estate investment trust’s stock valued at $536,000 after buying an additional 83 shares during the period. Inspire Investing LLC raised its holdings in shares of Digital Realty Trust by 20.3% in the 3rd quarter. Inspire Investing LLC now owns 72,214 shares of the real estate investment trust’s stock valued at $12,676,000 after buying an additional 12,203 shares during the period. Boomfish Wealth Group LLC lifted its stake in Digital Realty Trust by 1.0% during the 3rd quarter. Boomfish Wealth Group LLC now owns 10,338 shares of the real estate investment trust’s stock worth $1,815,000 after acquiring an additional 104 shares in the last quarter. Finally, Lake Street Private Wealth LLC lifted its stake in Digital Realty Trust by 5.1% during the 3rd quarter. Lake Street Private Wealth LLC now owns 2,515 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

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.