Digital Realty Trust (NYSE:DLR) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Digital Realty Trust (NYSE:DLR) to a strong-buy rating in a report released on Tuesday,Zacks reports.

DLR has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $229.00 price target on shares of Digital Realty Trust in a research report on Monday, July 27th. Guggenheim raised Digital Realty Trust from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research note on Wednesday, July 15th. TD Cowen upgraded Digital Realty Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $192.00 to $222.00 in a research report on Friday, July 24th. KeyCorp reiterated a “sector weight” rating on shares of Digital Realty Trust in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Digital Realty Trust from $230.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Digital Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $219.78.

Digital Realty Trust Stock Down 3.2%

Shares of NYSE:DLR opened at $170.72 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $183.43 and a two-hundred day moving average of $187.03. The stock has a market cap of $63.34 billion, a P/E ratio of 82.87, a PEG ratio of 3.38 and a beta of 0.99. Digital Realty Trust has a 52-week low of $146.23 and a 52-week high of $208.14.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.77). The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.66 billion. Digital Realty Trust had a return on equity of 3.34% and a net margin of 11.80%. Digital Realty Trust’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 earnings per share. On average, research analysts expect that Digital Realty Trust will post 8.40 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, September 15th. Digital Realty Trust’s dividend payout ratio is 236.89%.

Insider Activity at Digital Realty Trust

In other news, Director Mark Patterson sold 200 shares of Digital Realty Trust stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $193.96, for a total value of $38,792.00. Following the completion of the sale, the director directly owned 6,322 shares of the company’s stock, valued at approximately $1,226,215.12. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Digital Realty Trust

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Digital Realty Trust in the 2nd quarter valued at about $7,277,032,000. Bank of America Corp DE acquired a new stake in shares of Digital Realty Trust during the second quarter worth about $1,605,671,000. Canada Pension Plan Investment Board purchased a new position in shares of Digital Realty Trust in the second quarter valued at approximately $1,178,095,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Digital Realty Trust by 17,256.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,890,993 shares of the real estate investment trust’s stock valued at $878,325,000 after purchasing an additional 4,862,814 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of Digital Realty Trust in the second quarter valued at approximately $691,559,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Digital Realty Trust Company Profile

Digital Realty Trust, Inc is a real estate investment trust that owns, operates and develops data center facilities for businesses, cloud service providers, information technology companies and telecommunications organizations. The company provides the physical infrastructure needed to support data storage, networking, cloud computing and other digital operations.

Its services include data center colocation, interconnection and private connectivity solutions. Digital Realty also offers access to cloud and network providers through its PlatformDIGITAL platform, which is designed to help customers deploy, connect and manage their digital infrastructure across multiple locations.

Founded in 2001, Digital Realty serves customers through a global portfolio of data centers and related facilities across North America, Europe, Asia-Pacific and Latin America.