State of Michigan Retirement System Has $11.95 Million Stock Holdings in Digital Realty Trust, Inc. (NYSE:DLR)

State of Michigan Retirement System grew its position in Digital Realty Trust, Inc. (NYSE:DLR) by 0.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 82,981 shares of the real estate investment trust’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Digital Realty Trust were worth $11,953,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DLR. Farmers & Merchants Investments Inc. increased its stake in Digital Realty Trust by 2.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 47,505 shares of the real estate investment trust’s stock worth $6,843,000 after purchasing an additional 1,103 shares in the last quarter. Little House Capital LLC bought a new stake in shares of Digital Realty Trust during the first quarter worth $2,436,000. Aviance Capital Partners LLC acquired a new stake in shares of Digital Realty Trust during the first quarter worth $242,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Digital Realty Trust by 36.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,448 shares of the real estate investment trust’s stock worth $353,000 after acquiring an additional 648 shares during the period. Finally, Occidental Asset Management LLC bought a new stake in Digital Realty Trust in the 1st quarter valued at $1,374,000. Institutional investors own 99.71% of the company’s stock.

Analyst Upgrades and Downgrades

DLR has been the topic of several recent research reports. TD Cowen lifted their price target on Digital Realty Trust from $116.00 to $122.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Digital Realty Trust from $143.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. UBS Group boosted their target price on Digital Realty Trust from $143.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. HSBC raised their price target on shares of Digital Realty Trust from $115.00 to $118.00 and gave the stock a “reduce” rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets upgraded shares of Digital Realty Trust from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $144.00 to $170.00 in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $149.42.

Digital Realty Trust Stock Performance

NYSE:DLR traded up $0.80 on Tuesday, hitting $152.93. The company’s stock had a trading volume of 1,162,741 shares, compared to its average volume of 1,973,078. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.91. Digital Realty Trust, Inc. has a one year low of $112.38 and a one year high of $154.18. The stock has a fifty day moving average of $144.99 and a two-hundred day moving average of $141.85. The firm has a market capitalization of $47.78 billion, a P/E ratio of 42.46, a price-to-earnings-growth ratio of 19.91 and a beta of 0.59.

Digital Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, June 14th. Digital Realty Trust’s dividend payout ratio is 135.56%.

Digital Realty Trust Profile

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation and efficiently managing Data Gravity challenges.