Scotiabank Boosts Digital Realty Trust (NYSE:DLR) Price Target to $178.00

Digital Realty Trust (NYSE:DLR) had its price objective lifted by Scotiabank from $157.00 to $178.00 in a research report report published on Friday, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the company. TD Cowen decreased their price target on Digital Realty Trust from $122.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group assumed coverage on Digital Realty Trust in a research note on Monday, July 1st. They set a “buy” rating and a $175.00 price objective on the stock. Truist Financial lifted 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. Stifel Nicolaus restated a “buy” rating and issued a $195.00 price objective (up previously from $185.00) on shares of Digital Realty Trust in a report on Friday. Finally, Evercore ISI raised their price objective on Digital Realty Trust from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $167.68.

Digital Realty Trust Stock Performance

Shares of Digital Realty Trust stock opened at $183.31 on Friday. The stock has a market cap of $57.27 billion, a PE ratio of 50.92, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60. Digital Realty Trust has a 12 month low of $121.38 and a 12 month high of $193.88. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $158.40 and a 200-day simple moving average of $151.02.

Digital Realty Trust (NYSE:DLR) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.58). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. Digital Realty Trust’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.62 earnings per share. On average, sell-side analysts anticipate that Digital Realty Trust will post 6.65 EPS for the current fiscal 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 paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 2.66%. 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 Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the stock in a transaction that occurred 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 in the company, valued at $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 this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Digital Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in DLR. Meeder Asset Management Inc. purchased a new stake in shares of Digital Realty Trust during the 2nd quarter valued at $25,000. Gradient Investments LLC raised its position in shares of Digital Realty Trust by 75.2% during the 2nd quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 76 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of Digital Realty Trust during the 2nd quarter valued at $27,000. Private Ocean LLC purchased a new stake in shares of Digital Realty Trust during the 2nd quarter valued at $27,000. Finally, Asset Dedication LLC purchased a new position in Digital Realty Trust in the 2nd quarter worth $31,000. Hedge funds and other institutional investors 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.