Evercore ISI Boosts Digital Realty Trust (NYSE:DLR) Price Target to $175.00

Digital Realty Trust (NYSE:DLR) had its price objective hoisted by Evercore ISI from $160.00 to $175.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets upgraded shares of Digital Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $144.00 to $170.00 in a research note on Wednesday, June 26th. Stifel Nicolaus upped their target price on Digital Realty Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Hsbc Global Res upgraded Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research note on Friday, October 4th. Argus cut Digital Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Truist Financial lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.21.

Digital Realty Trust Price Performance

Shares of Digital Realty Trust stock opened at $181.01 on Wednesday. The stock has a market capitalization of $56.55 billion, a P/E ratio of 50.28, a PEG ratio of 5.08 and a beta of 0.60. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average price is $157.08 and its 200 day moving average price is $150.38. Digital Realty Trust has a twelve month low of $116.73 and a twelve month high of $193.88.

Digital Realty Trust (NYSE:DLR) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43). Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts anticipate that Digital Realty Trust will post 6.65 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.22 per share. The ex-dividend date was Friday, September 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.70%. Digital Realty Trust’s dividend payout ratio (DPR) is 135.56%.

Insider Activity

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

Institutional Investors Weigh In On Digital Realty Trust

Several large investors have recently added to or reduced their stakes in DLR. Oak Harvest Investment Services bought a new position in shares of Digital Realty Trust during the third quarter worth about $7,754,000. Hudson Valley Investment Advisors Inc. ADV boosted its stake in Digital Realty Trust by 6.4% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,484 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 150 shares during the period. First Trust Direct Indexing L.P. grew its position in Digital Realty Trust by 5.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 12,371 shares of the real estate investment trust’s stock worth $2,002,000 after purchasing an additional 585 shares during the last quarter. Capstone Triton Financial Group LLC acquired a new stake in shares of Digital Realty Trust in the third quarter valued at approximately $1,244,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of Digital Realty Trust during the third quarter valued at approximately $3,552,000. 99.71% of the stock is owned by institutional investors and hedge funds.

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.