Digital Realty Trust (NYSE:DLR) Price Target Raised to $175.00 at Wells Fargo & Company

Digital Realty Trust (NYSE:DLR) had its price objective raised by Wells Fargo & Company from $170.00 to $175.00 in a report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on DLR. HSBC raised Digital Realty Trust from a “reduce” rating to a “hold” rating and upped their price objective for the company from $124.00 to $160.00 in a report on Friday, October 4th. Truist Financial upped their price target on shares of Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. TD Cowen dropped their price objective on shares of Digital Realty Trust from $122.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, July 26th. Barclays increased their target price on shares of Digital Realty Trust from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Finally, Hsbc Global Res upgraded shares of Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Digital Realty Trust has an average rating of “Hold” and an average price target of $157.17.

Digital Realty Trust Price Performance

Shares of DLR opened at $165.38 on Thursday. The company’s 50-day moving average is $155.83 and its 200-day moving average is $149.83. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market capitalization of $51.67 billion, a PE ratio of 45.94, a PEG ratio of 5.08 and a beta of 0.60. Digital Realty Trust has a fifty-two week low of $113.94 and a fifty-two week high of $165.65.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($1.43). Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company earned $1.68 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Digital Realty Trust will post 6.65 EPS for the current year.

Digital Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, September 13th. Digital Realty Trust’s dividend payout ratio is presently 135.56%.

Insiders Place Their Bets

In other news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the sale, the director now directly owns 9,055 shares of the company’s stock, valued at approximately $1,360,604.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Digital Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of Digital Realty Trust by 543.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,447,340 shares of the real estate investment trust’s stock worth $220,068,000 after acquiring an additional 1,773,591 shares in the last quarter. Vanguard Group Inc. increased its holdings in Digital Realty Trust by 2.0% in the first quarter. Vanguard Group Inc. now owns 48,503,593 shares of the real estate investment trust’s stock worth $6,986,458,000 after purchasing an additional 951,567 shares in the last quarter. Wulff Hansen & CO. lifted its stake in Digital Realty Trust by 15,105.0% in the second quarter. Wulff Hansen & CO. now owns 795,830 shares of the real estate investment trust’s stock valued at $121,006,000 after buying an additional 790,596 shares during the period. Electron Capital Partners LLC boosted its holdings in shares of Digital Realty Trust by 220.7% during the 2nd quarter. Electron Capital Partners LLC now owns 1,041,594 shares of the real estate investment trust’s stock worth $158,374,000 after buying an additional 716,816 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Digital Realty Trust by 16.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,725,971 shares of the real estate investment trust’s stock worth $718,584,000 after buying an additional 678,165 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.

About Digital Realty Trust

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.