Royal Bank of Canada Issues Positive Forecast for Digital Realty Trust (NYSE:DLR) Stock Price

Digital Realty Trust (NYSE:DLR) had its target price raised by Royal Bank of Canada from $177.00 to $207.00 in a research report report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on DLR. Wells Fargo & Company increased their price target on Digital Realty Trust from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their target price on Digital Realty Trust from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Hsbc Global Res upgraded Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a report on Friday, October 4th. Stifel Nicolaus reiterated 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, October 25th. Finally, Jefferies Financial Group boosted their target price on shares of Digital Realty Trust from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.68.

Digital Realty Trust Price Performance

Shares of DLR stock opened at $182.17 on Monday. The business has a fifty day simple moving average of $159.72 and a 200 day simple moving average of $151.52. The company has a market cap of $59.64 billion, a P/E ratio of 153.08, a P/E/G ratio of 5.08 and a beta of 0.60. 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 has a twelve month low of $121.78 and a twelve month high of $193.88.

Digital Realty Trust (NYSE:DLR) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58). The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS. On average, sell-side analysts forecast that Digital Realty Trust will post 6.65 EPS for the current fiscal year.

Digital Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.88 annualized dividend and a dividend yield of 2.68%. Digital Realty Trust’s dividend payout ratio is currently 410.08%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC raised its holdings in shares of Digital Realty Trust by 94.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,420 shares of the real estate investment trust’s stock valued at $1,039,000 after purchasing an additional 3,121 shares during the period. Armor Investment Advisors LLC raised its stake in Digital Realty Trust by 1.5% during the 3rd quarter. Armor Investment Advisors LLC now owns 30,876 shares of the real estate investment trust’s stock worth $4,997,000 after buying an additional 462 shares during the period. Harvest Portfolios Group Inc. raised its stake in Digital Realty Trust by 102.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,272 shares of the real estate investment trust’s stock worth $1,662,000 after buying an additional 5,196 shares during the period. Catalina Capital Group LLC grew its stake in Digital Realty Trust by 3.8% in the third quarter. Catalina Capital Group LLC now owns 2,321 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 84 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Digital Realty Trust by 2.6% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 32,481 shares of the real estate investment trust’s stock valued at $5,256,000 after acquiring an additional 822 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

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.