Digital Realty Trust Receives Overweight Rating from Morgan Stanley (DLR)
Digital Realty Trust (NYSE:DLR)‘s stock had its “overweight” rating restated by analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, Stock Ratings News reports. They currently have a $73.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 34.84% from the stock’s previous close.
The analysts wrote, “Core FFO of $1.26 per share easily beat our $1.15 and the Street’s $1.14, partially driven by lower financing costs and bonus accruals. Most importantly, another quarter of record leasing activity and pricing growth caps a strong year for the group fundamentally, with customer outsourcing seemingly picking up steam. Full-year Guidance was left entirely unchanged and at $4.75-4.90, suggests potential upside to consensus and may ultimately prove conservative in our view. We remain Overweight.”
Several other analysts have also recently commented on the stock. Analysts at Ned Davis Research downgraded shares of Digital Realty Trust from a “neutral” rating to a “sell” rating in a research note on Monday. Separately, analysts at TheStreet upgraded shares of Digital Realty Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, analysts at Macquarie downgraded shares of Digital Realty Trust from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. They now have a $43.00 price target on the stock, down previously from $52.12. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Digital Realty Trust currently has an average rating of “Hold” and a consensus price target of $59.52.
Digital Realty Trust (NYSE:DLR) traded down 1.03% during mid-day trading on Tuesday, hitting $53.585. The stock had a trading volume of 2,108,641 shares. Digital Realty Trust has a 52 week low of $43.04 and a 52 week high of $74.00. The stock has a 50-day moving average of $51.76 and a 200-day moving average of $51.44. The company has a market cap of $6.882 billion and a P/E ratio of 25.11.
Digital Realty Trust (NYSE:DLR) last announced its earnings results on Monday, February 24th. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.14 by $0.12. The company had revenue of $380.93 million for the quarter, compared to the consensus estimate of $376.66 million. During the same quarter last year, the company posted $1.15 earnings per share. On average, analysts predict that Digital Realty Trust will post $4.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Digital Realty Trust’s previous quarterly dividend of $0.78.
Digital Realty Trust, Inc is a real estate investment trust (NYSE:DLR).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.