Hartford Investment Management Co. Cuts Holdings in Digital Realty Trust, Inc. (NYSE:DLR)

Hartford Investment Management Co. decreased its holdings in Digital Realty Trust, Inc. (NYSE:DLR) by 7.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,356 shares of the real estate investment trust’s stock after selling 1,447 shares during the quarter. Hartford Investment Management Co.’s holdings in Digital Realty Trust were worth $3,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Digital Realty Trust in the second quarter valued at about $25,000. Gradient Investments LLC lifted its position in Digital Realty Trust by 75.2% during the second 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. American Capital Advisory LLC purchased a new position in shares of Digital Realty Trust during the 2nd quarter worth $27,000. Private Ocean LLC acquired a new position in Digital Realty Trust in the 2nd quarter valued at about $27,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Digital Realty Trust during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Digital Realty Trust Stock Up 0.3 %

DLR stock opened at $165.80 on Thursday. Digital Realty Trust, Inc. has a fifty-two week low of $116.18 and a fifty-two week high of $166.57. The company’s 50 day moving average price is $156.77 and its 200 day moving average price is $150.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $51.80 billion, a price-to-earnings ratio of 46.06, a PEG ratio of 5.08 and a beta of 0.60.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($1.43). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. Digital Realty Trust’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm posted $1.68 earnings per share. On average, equities research analysts anticipate that Digital Realty Trust, Inc. will post 6.65 EPS for the current fiscal year.

Digital Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.88 annualized dividend and a dividend yield of 2.94%. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DLR shares. Truist Financial upped their price target on Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Argus cut shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Digital Realty Trust from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. HSBC upgraded shares of Digital Realty Trust from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $124.00 to $160.00 in a report on Friday, October 4th. Finally, Hsbc Global Res upgraded shares of Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $158.33.

Digital Realty Trust Company 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.