Fred Alger Management LLC Trims Stake in Digital Realty Trust, Inc. (NYSE:DLR)

Fred Alger Management LLC reduced its holdings in shares of Digital Realty Trust, Inc. (NYSE:DLR) by 56.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,064 shares of the real estate investment trust’s stock after selling 3,971 shares during the period. Fred Alger Management LLC’s holdings in Digital Realty Trust were worth $496,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Clear Creek Financial Management LLC boosted its holdings in shares of Digital Realty Trust by 1.6% in the third quarter. Clear Creek Financial Management LLC now owns 3,836 shares of the real estate investment trust’s stock valued at $621,000 after purchasing an additional 59 shares during the period. OneDigital Investment Advisors LLC grew its stake in Digital Realty Trust by 3.2% in the third quarter. OneDigital Investment Advisors LLC now owns 1,886 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 59 shares during the last quarter. Trueblood Wealth Management LLC raised its holdings in Digital Realty Trust by 3.1% in the third quarter. Trueblood Wealth Management LLC now owns 2,061 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 61 shares in the last quarter. Gilman Hill Asset Management LLC lifted its position in shares of Digital Realty Trust by 1.1% during the second quarter. Gilman Hill Asset Management LLC now owns 6,179 shares of the real estate investment trust’s stock valued at $940,000 after buying an additional 65 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Digital Realty Trust by 14.3% in the 3rd quarter. GHP Investment Advisors Inc. now owns 527 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 66 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DLR shares. Royal Bank of Canada boosted their price objective on shares of Digital Realty Trust from $177.00 to $207.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Truist Financial increased their price objective on Digital Realty Trust from $168.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Hsbc Global Res upgraded Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research note on Friday, October 4th. Barclays increased their price target on Digital Realty Trust from $135.00 to $142.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Digital Realty Trust from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $170.37.

Digital Realty Trust Price Performance

Shares of DLR opened at $195.69 on Monday. The business’s 50-day moving average is $173.14 and its two-hundred day moving average is $158.36. The company has a market capitalization of $64.91 billion, a P/E ratio of 164.45, a P/E/G ratio of 5.19 and a beta of 0.59. Digital Realty Trust, Inc. has a fifty-two week low of $130.00 and a fifty-two week high of $198.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.61 and a current ratio of 1.61.

Digital Realty Trust (NYSE:DLR) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $1.67 by ($1.58). Digital Realty Trust had a return on equity of 2.24% and a net margin of 8.04%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business earned $1.62 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Research analysts predict that Digital Realty Trust, Inc. will post 6.71 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 13th will be given a dividend of $1.22 per share. The ex-dividend date is Friday, December 13th. This represents a $4.88 annualized dividend and a yield of 2.49%. Digital Realty Trust’s dividend payout ratio is presently 410.08%.

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.