Washington Trust Bank Cuts Position in Digital Realty Trust, Inc. (NYSE:DLR)

Washington Trust Bank lessened its holdings in Digital Realty Trust, Inc. (NYSE:DLR) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 41,202 shares of the real estate investment trust’s stock after selling 699 shares during the quarter. Washington Trust Bank’s holdings in Digital Realty Trust were worth $6,668,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Digital Realty Trust during the 2nd quarter worth approximately $25,000. American Capital Advisory LLC purchased a new stake in Digital Realty Trust during the 2nd quarter worth approximately $27,000. Private Ocean LLC purchased a new stake in Digital Realty Trust during the 2nd quarter worth approximately $27,000. Gradient Investments LLC increased its stake in Digital Realty Trust by 75.2% during the 2nd quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 76 shares in the last quarter. Finally, Adirondack Trust Co. increased its stake in Digital Realty Trust by 68.6% during the 3rd quarter. Adirondack Trust Co. now owns 199 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Mizuho assumed coverage on Digital Realty Trust in a research note on Thursday, July 11th. They set an “outperform” rating and a $170.00 price objective for the company. Argus lowered Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their target price on Digital Realty Trust from $177.00 to $207.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. TD Cowen boosted their target price on Digital Realty Trust from $120.00 to $128.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Evercore ISI boosted 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $167.68.

Digital Realty Trust Trading Up 0.4 %

DLR traded up $0.64 during trading hours on Thursday, reaching $174.26. The company’s stock had a trading volume of 259,148 shares, compared to its average volume of 1,838,373. The stock has a market cap of $57.80 billion, a PE ratio of 145.90, a P/E/G ratio of 5.70 and a beta of 0.59. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.61 and a quick ratio of 1.78. Digital Realty Trust, Inc. has a fifty-two week low of $126.22 and a fifty-two week high of $193.88. The business’s 50-day moving average is $162.36 and its 200-day moving average is $152.93.

Digital Realty Trust (NYSE:DLR) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Digital Realty Trust had a net margin of 8.04% and a return on equity of 2.24%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 EPS. As a group, equities research analysts predict that Digital Realty Trust, Inc. will post 6.7 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 13th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Friday, December 13th. Digital Realty Trust’s payout ratio is 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.