Cornerstone Wealth Management LLC Purchases Shares of 1,247 Digital Realty Trust, Inc. (NYSE:DLR)

Cornerstone Wealth Management LLC acquired a new position in shares of Digital Realty Trust, Inc. (NYSE:DLR) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,247 shares of the real estate investment trust’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Digital Realty Trust by 2.0% during the first quarter. Vanguard Group Inc. now owns 48,503,593 shares of the real estate investment trust’s stock valued at $6,986,458,000 after purchasing an additional 951,567 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Digital Realty Trust by 3.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,826,432 shares of the real estate investment trust’s stock valued at $733,859,000 after buying an additional 146,183 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Digital Realty Trust by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 4,730,168 shares of the real estate investment trust’s stock valued at $719,222,000 after acquiring an additional 129,799 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Digital Realty Trust by 16.8% in the second quarter. Daiwa Securities Group Inc. now owns 4,725,971 shares of the real estate investment trust’s stock worth $718,584,000 after acquiring an additional 678,165 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Digital Realty Trust by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,541,327 shares of the real estate investment trust’s stock worth $690,498,000 after acquiring an additional 228,585 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.

Digital Realty Trust Trading Up 1.0 %

NYSE:DLR opened at $165.38 on Friday. The firm has a 50 day moving average of $155.83 and a 200 day moving average of $149.76. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. Digital Realty Trust, Inc. has a 52 week low of $113.94 and a 52 week high of $165.65. The stock has a market capitalization of $51.67 billion, a price-to-earnings ratio of 45.94, a PEG ratio of 5.08 and a beta of 0.60.

Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.20 EPS 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 business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Digital Realty Trust, Inc. will post 6.65 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 2.95%. Digital Realty Trust’s dividend payout ratio (DPR) is currently 135.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DLR shares. Hsbc Global Res upgraded Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research report on Friday, October 4th. HSBC upgraded Digital Realty Trust from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $124.00 to $160.00 in a report on Friday, October 4th. Stifel Nicolaus increased their target price on Digital Realty Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. boosted their target price on shares of Digital Realty Trust from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Digital Realty Trust in a research note on Monday, July 1st. They issued a “buy” rating and a $175.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $157.17.

Insider Activity at Digital Realty Trust

In other Digital Realty Trust 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 shares were sold at an average price of $150.26, for a total transaction of $90,156.00. Following the transaction, the director now owns 9,055 shares in the company, valued at approximately $1,360,604.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Digital Realty Trust 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.