Deutsche Bank Upgrades Digital Realty Trust to “Buy” (DLR)
Digital Realty Trust (NYSE:DLR) was upgraded by stock analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $68.00 target price on the stock, up from their previous target price of $56.00. Deutsche Bank’s price target would indicate a potential upside of 9.17% from the stock’s previous close.
Digital Realty Trust (NYSE:DLR) traded up 1.73% on Tuesday, hitting $62.29. 1,036,897 shares of the company’s stock traded hands. Digital Realty Trust has a 52-week low of $43.04 and a 52-week high of $65.43. The stock has a 50-day moving average of $58.72 and a 200-day moving average of $54.77. The company has a market cap of $8.431 billion and a price-to-earnings ratio of 30.07.
Digital Realty Trust (NYSE:DLR) last announced its earnings results on Tuesday, May 6th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.10. The company had revenue of $391.00 million for the quarter, compared to the consensus estimate of $387.17 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that Digital Realty Trust will post $4.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Thursday, September 11th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Digital Realty Trust from $62.00 to $64.00 in a research note on Monday. They now have an “overweight” rating on the stock. Separately, analysts at Jefferies Group upgraded shares of Digital Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, June 16th. They now have a $68.00 price target on the stock, up previously from $55.00. Finally, analysts at Cantor Fitzgerald downgraded shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Digital Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $59.21.
Digital Realty Trust, Inc is a real estate investment trust (NYSE:DLR).
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