Digital Realty Trust, Inc. (DLR) Given Buy Rating at KeyCorp
KeyCorp restated their buy rating on shares of Digital Realty Trust, Inc. (NYSE:DLR) in a research report released on Friday. KeyCorp currently has a $130.00 price target on the real estate investment trust’s stock.
Several other brokerages have also weighed in on DLR. BidaskClub raised Digital Realty Trust from a hold rating to a buy rating in a report on Saturday, June 24th. Royal Bank Of Canada reissued a buy rating and set a $127.00 price objective on shares of Digital Realty Trust in a report on Thursday, June 8th. Zacks Investment Research lowered Digital Realty Trust from a buy rating to a hold rating in a report on Wednesday, August 2nd. Wells Fargo & Company lowered Digital Realty Trust from an outperform rating to a market perform rating and set a $118.00 price objective on the stock. in a report on Wednesday, May 17th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $127.00 price target on shares of Digital Realty Trust in a research note on Friday, August 18th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Digital Realty Trust presently has a consensus rating of Buy and a consensus target price of $119.38.
Shares of Digital Realty Trust (NYSE:DLR) opened at 117.57 on Friday. The firm’s 50-day moving average is $114.15 and its 200-day moving average is $111.83. The firm has a market cap of $19.07 billion, a PE ratio of 47.75 and a beta of -0.03. Digital Realty Trust has a 12-month low of $85.63 and a 12-month high of $121.53.
Digital Realty Trust (NYSE:DLR) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.05. Digital Realty Trust had a return on equity of 12.39% and a net margin of 21.27%. The company had revenue of $565.99 million for the quarter, compared to analyst estimates of $559.93 million. During the same quarter last year, the firm earned $1.42 EPS. Digital Realty Trust’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts expect that Digital Realty Trust will post $1.57 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 14th. Digital Realty Trust’s dividend payout ratio is currently 148.21%.
In other Digital Realty Trust news, insider Christopher Sharp sold 25,733 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $116.44, for a total value of $2,996,350.52. Following the transaction, the insider now owns 25,733 shares of the company’s stock, valued at $2,996,350.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Joshua A. Mills sold 9,211 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $120.00, for a total value of $1,105,320.00. Following the completion of the transaction, the senior vice president now directly owns 13,377 shares in the company, valued at approximately $1,605,240. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Digital Realty Trust by 50.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 973 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 328 shares in the last quarter. Parallel Advisors LLC raised its position in Digital Realty Trust by 18.0% in the second quarter. Parallel Advisors LLC now owns 972 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 148 shares in the last quarter. Sun Life Financial INC raised its position in Digital Realty Trust by 12,844.4% in the second quarter. Sun Life Financial INC now owns 1,165 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 1,156 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in Digital Realty Trust during the second quarter worth approximately $134,000. Finally, Muzinich & Co. Inc. raised its position in Digital Realty Trust by 37.1% in the first quarter. Muzinich & Co. Inc. now owns 1,414 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 383 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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