Digital Realty Trust (NYSE:DLR) Price Target Raised to $128.00

Digital Realty Trust (NYSE:DLR) had its target price boosted by TD Cowen from $120.00 to $128.00 in a report published on Friday morning, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on DLR. Truist Financial lifted their price objective on Digital Realty Trust from $160.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Evercore ISI lifted their target price on Digital Realty Trust from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Raymond James increased their price target on Digital Realty Trust from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a report on Friday. Argus lowered shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Digital Realty Trust from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Digital Realty Trust has an average rating of “Hold” and a consensus price target of $165.21.

Digital Realty Trust Price Performance

Digital Realty Trust stock opened at $181.01 on Friday. The stock’s 50 day moving average is $157.70 and its 200 day moving average is $150.74. Digital Realty Trust has a one year low of $116.73 and a one year high of $193.88. The firm has a market cap of $56.55 billion, a P/E ratio of 50.28, a P/E/G ratio of 5.08 and a beta of 0.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78.

Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58). Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Digital Realty Trust will post 6.65 EPS for the current year.

Digital Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, September 13th. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Insider Transactions at Digital Realty Trust

In related news, Director Jean F. H. P. Mandeville sold 600 shares of Digital Realty Trust stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.26, for a total transaction of $90,156.00. Following the transaction, the director now owns 9,055 shares of the company’s stock, valued at $1,360,604.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DLR. Meeder Asset Management Inc. purchased a new stake in Digital Realty Trust in the 2nd quarter valued at about $25,000. Gradient Investments LLC increased its position in shares of Digital Realty Trust by 75.2% during the second quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 76 shares during the last quarter. American Capital Advisory LLC bought a new stake in Digital Realty Trust during the second quarter worth $27,000. Private Ocean LLC purchased a new position in Digital Realty Trust in the second quarter worth $27,000. Finally, Asset Dedication LLC bought a new position in Digital Realty Trust in the 2nd quarter valued at $31,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

About Digital Realty Trust

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.