Digital Realty Trust Inc. (DLR) Earns “Buy” Rating from Bank of America Corp.
Bank of America Corp. reiterated their buy rating on shares of Digital Realty Trust Inc. (NYSE:DLR) in a research note issued to investors on Wednesday. They currently have a $120.00 price target on the real estate investment trust’s stock.
A number of other equities analysts have also recently issued reports on DLR. Wells Fargo & Co. assumed coverage on Digital Realty Trust in a report on Tuesday, May 31st. They issued an outperform rating on the stock. SunTrust Banks Inc. initiated coverage on Digital Realty Trust in a research note on Thursday, July 21st. They set a buy rating and a $125.00 price objective on the stock. Jefferies Group dropped their price objective on Digital Realty Trust from $115.00 to $109.00 and set a hold rating on the stock in a research note on Thursday, August 11th. TheStreet cut Digital Realty Trust from a buy rating to a hold rating in a research note on Thursday, July 28th. Finally, Barclays PLC raised their price objective on Digital Realty Trust from $118.00 to $126.00 and gave the company an overweight rating in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $98.61.
Shares of Digital Realty Trust (NYSE:DLR) opened at 97.12 on Wednesday. The company has a market cap of $14.26 billion, a PE ratio of 215.82 and a beta of 0.28. The stock has a 50 day moving average of $98.33 and a 200-day moving average of $97.40. Digital Realty Trust has a 12 month low of $64.98 and a 12 month high of $113.21.
Digital Realty Trust (NYSE:DLR) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Digital Realty Trust had a return on equity of 5.02% and a net margin of 7.82%. The company had revenue of $514.90 million for the quarter, compared to analysts’ expectations of $507.72 million. During the same period last year, the business earned $1.30 EPS. Digital Realty Trust’s quarterly revenue was up 22.5% compared to the same quarter last year. Equities analysts forecast that Digital Realty Trust will post $5.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $3.52 annualized dividend and a yield of 3.62%. Digital Realty Trust’s dividend payout ratio is currently 765.22%.
In other news, SVP Joshua A. Mills sold 4,519 shares of Digital Realty Trust stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $92.22, for a total transaction of $416,742.18. Following the completion of the sale, the senior vice president now owns 8,685 shares in the company, valued at approximately $800,930.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Edward F. Sham sold 14,701 shares of Digital Realty Trust stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $92.50, for a total value of $1,359,842.50. Following the sale, the insider now owns 19,039 shares of the company’s stock, valued at approximately $1,761,107.50. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Digital Realty Trust during the fourth quarter worth about $48,880,000. Boston Advisors LLC increased its stake in shares of Digital Realty Trust by 9.7% in the first quarter. Boston Advisors LLC now owns 3,795 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 335 shares during the period. Commonwealth Equity Services Inc increased its stake in shares of Digital Realty Trust by 21.6% in the first quarter. Commonwealth Equity Services Inc now owns 11,327 shares of the real estate investment trust’s stock worth $1,002,000 after buying an additional 2,011 shares during the period. Aperio Group LLC increased its stake in shares of Digital Realty Trust by 36.4% in the first quarter. Aperio Group LLC now owns 35,791 shares of the real estate investment trust’s stock worth $3,167,000 after buying an additional 9,554 shares during the period. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Digital Realty Trust during the first quarter worth about $284,000.
About Digital Realty Trust
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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