Digital Realty Trust Inc. (DLR) Upgraded to “Buy” at Zacks Investment Research
Digital Realty Trust Inc. (NYSE:DLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $103.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s target price suggests a potential upside of 12.54% from the stock’s current price.
According to Zacks, “Digital Realty Trust owns, acquires, repositions and manages technology-related real estate. The Company’s properties contain applications and operations critical to the day-to-day operations of technology industry tenants. “
A number of other research analysts also recently issued reports on DLR. Jefferies Group reiterated a “buy” rating and set a $108.00 price objective on shares of Digital Realty Trust in a report on Wednesday, July 6th. Citigroup Inc. decreased their price target on Digital Realty Trust from $108.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, July 7th. Deutsche Bank AG restated a “buy” rating and issued a $114.00 price target (up from $102.00) on shares of Digital Realty Trust in a research note on Monday, July 18th. Barclays PLC raised their price target on Digital Realty Trust from $110.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, July 19th. Finally, SunTrust Banks Inc. assumed coverage on Digital Realty Trust in a research note on Thursday, July 21st. They issued a “buy” rating and a $125.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $100.18.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/digital-realty-trust-inc-dlr-upgraded-to-buy-at-zacks-investment-research-2.html
Digital Realty Trust (NYSE:DLR) traded down 1.06% during mid-day trading on Tuesday, hitting $91.52. The stock had a trading volume of 693,453 shares. Digital Realty Trust has a one year low of $69.00 and a one year high of $113.21. The stock’s 50 day moving average price is $96.41 and its 200 day moving average price is $97.72. The firm has a market capitalization of $13.44 billion, a price-to-earnings ratio of 203.38 and a beta of 0.28.
Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The business earned $514.90 million during the quarter, compared to the consensus estimate of $507.72 million. Digital Realty Trust had a return on equity of 5.02% and a net margin of 7.82%. Digital Realty Trust’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. Analysts forecast that Digital Realty Trust will post $5.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $3.52 dividend on an annualized basis and a yield of 3.85%. Digital Realty Trust’s dividend payout ratio (DPR) is presently 765.22%.
In other news, SVP Joshua A. Mills sold 4,519 shares of Digital Realty Trust stock in a transaction on Friday, September 16th. The stock was sold at an average price of $92.22, for a total value of $416,742.18. Following the transaction, the senior vice president now owns 8,685 shares in the company, valued at approximately $800,930.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Edward F. Sham sold 14,701 shares of Digital Realty Trust stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $92.50, for a total value of $1,359,842.50. Following the completion of the transaction, the insider now owns 19,039 shares in the company, valued at approximately $1,761,107.50. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Digital Realty Trust by 16.9% in the second quarter. Vanguard Group Inc. now owns 25,877,906 shares of the real estate investment trust’s stock valued at $2,820,434,000 after buying an additional 3,744,997 shares during the last quarter. State Street Corp raised its position in shares of Digital Realty Trust by 61.0% in the second quarter. State Street Corp now owns 8,456,749 shares of the real estate investment trust’s stock valued at $921,701,000 after buying an additional 3,203,272 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Digital Realty Trust by 81.4% in the second quarter. Ameriprise Financial Inc. now owns 1,957,469 shares of the real estate investment trust’s stock valued at $213,345,000 after buying an additional 878,416 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Digital Realty Trust by 70.3% in the second quarter. JPMorgan Chase & Co. now owns 1,677,260 shares of the real estate investment trust’s stock valued at $182,805,000 after buying an additional 692,533 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Digital Realty Trust by 31.6% in the second quarter. Bank of New York Mellon Corp now owns 2,835,504 shares of the real estate investment trust’s stock valued at $309,043,000 after buying an additional 681,557 shares during the last quarter.
Digital Realty Trust Company Profile
Digital Realty Trust, Inc is a real estate investment trust (REIT). The Company owns, acquires, develops and manages technology-related real estate. The Company is focused on providing data center and colocation solutions for domestic and international tenants across a range of industry verticals ranging from financial services, cloud and information technology services, to manufacturing, energy, healthcare and consumer products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Digital Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digital Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.