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 currently has a $103.00 target price on the real estate investment trust’s stock. Zacks Investment Research’s price target would suggest a potential upside of 12.54% from the stock’s previous close.
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 analysts have also recently weighed in on the stock. Bank of America Corp. reissued a “buy” rating and set a $120.00 target price on shares of Digital Realty Trust in a report on Wednesday, September 28th. Jefferies Group reissued a “hold” rating on shares of Digital Realty Trust in a report on Monday, August 29th. Barclays PLC increased their target price on shares of Digital Realty Trust from $118.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, August 12th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $120.00 price objective (up previously from $105.00) on shares of Digital Realty Trust in a report on Thursday, August 4th. Finally, Royal Bank Of Canada increased their price objective on shares of Digital Realty Trust from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. 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. Digital Realty Trust currently has an average rating of “Hold” and an average price target 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 https://www.americanbankingnews.com/2016/10/11/digital-realty-trust-inc-dlr-upgraded-to-buy-at-zacks-investment-research.html
Digital Realty Trust (NYSE:DLR) traded down 1.06% 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 company has a market cap of $13.44 billion, a PE ratio of 203.38 and a beta of 0.28. The stock has a 50-day moving average of $96.41 and a 200-day moving average of $97.72.
Digital Realty Trust (NYSE:DLR) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.04. The company had revenue of $514.90 million for the quarter, compared to analysts’ expectations of $507.72 million. Digital Realty Trust had a net margin of 7.82% and a return on equity of 5.02%. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. Equities analysts expect that Digital Realty Trust will post $5.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued 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 dividend yield of 3.85%. Digital Realty Trust’s dividend payout ratio is currently 765.22%.
In other news, insider Edward F. Sham sold 14,701 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $92.50, for a total transaction of $1,359,842.50. Following the sale, the insider now owns 19,039 shares in the company, valued at $1,761,107.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joshua A. Mills sold 4,519 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $92.22, for a total transaction of $416,742.18. Following the sale, the senior vice president now owns 8,685 shares in the company, valued at approximately $800,930.70. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Euclid Advisors LLC purchased a new stake in Digital Realty Trust during the second quarter worth about $108,000. Financial Architects Inc bought a new position in Digital Realty Trust during the second quarter valued at $200,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Digital Realty Trust during the second quarter valued at $200,000. BLB&B Advisors LLC bought a new position in Digital Realty Trust during the second quarter valued at $211,000. Finally, Calamos Advisors LLC bought a new position in Digital Realty Trust during the second quarter valued at $213,000.
About Digital Realty Trust
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.