Digital Realty Trust Inc. (NYSE:DLR) dropped 2.4% during trading on Thursday . The stock traded as low as $107.15 and last traded at $107.22, with a volume of 936,676 shares. The stock had previously closed at $109.82.

DLR has been the subject of several research reports. Jefferies Group reiterated a “buy” rating and set a $108.00 price objective on shares of Digital Realty Trust in a research note on Wednesday, July 6th. Deutsche Bank AG restated a “buy” rating and issued a $102.00 price target on shares of Digital Realty Trust in a research report on Wednesday, May 18th. Zacks Investment Research upgraded Digital Realty Trust from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Wednesday, May 4th. Stifel Nicolaus lowered Digital Realty Trust from a “buy” rating to a “hold” rating in a research report on Monday, March 21st. They noted that the move was a valuation call. Finally, Citigroup Inc. dropped their price target on Digital Realty Trust from $108.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $86.07.

The stock’s 50 day moving average is $103.69 and its 200 day moving average is $89.21. The company has a market cap of $15.72 billion and a price-to-earnings ratio of 98.29.

Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.09. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The company had revenue of $504.19 million for the quarter, compared to analyst estimates of $515.08 million. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, equities analysts anticipate that Digital Realty Trust Inc. will post $5.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $3.52 annualized dividend and a dividend yield of 3.29%.

In other Digital Realty Trust news, Director Bernard Geoghegan sold 586 shares of Digital Realty Trust stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $90.70, for a total value of $53,150.20. Following the completion of the sale, the director now directly owns 7,185 shares of the company’s stock, valued at approximately $651,679.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO A William Stein sold 16,017 shares of Digital Realty Trust stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $89.32, for a total transaction of $1,430,638.44. The disclosure for this sale can be found here.

Other hedge funds have recently added to or reduced their stakes in the company. Employees Retirement System of Texas boosted its stake in Digital Realty Trust by 37.9% in the fourth quarter. Employees Retirement System of Texas now owns 131,030 shares of the real estate investment trust’s stock valued at $9,908,000 after buying an additional 36,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Digital Realty Trust by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,773,331 shares of the real estate investment trust’s stock valued at $134,104,000 after buying an additional 37,947 shares during the last quarter. Stephens Inc. AR boosted its stake in Digital Realty Trust by 6.2% in the fourth quarter. Stephens Inc. AR now owns 49,254 shares of the real estate investment trust’s stock valued at $3,725,000 after buying an additional 2,879 shares during the last quarter. Jennison Associates LLC boosted its stake in Digital Realty Trust by 76.6% in the fourth quarter. Jennison Associates LLC now owns 2,416,718 shares of the real estate investment trust’s stock valued at $182,752,000 after buying an additional 1,048,043 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Digital Realty Trust by 17.0% in the fourth quarter. US Bancorp DE now owns 16,809 shares of the real estate investment trust’s stock valued at $1,270,000 after buying an additional 2,445 shares during the last quarter.

Digital Realty Trust, Inc is a real estate investment trust (REIT). The Company owns, acquires, develops and manages technology-related real estate. 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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