Q2 2017 EPS Estimates for Digital Realty Trust, Inc. (DLR) Lowered by Analyst
Digital Realty Trust, Inc. (NYSE:DLR) – Equities researchers at Jefferies Group decreased their Q2 2017 earnings estimates for Digital Realty Trust in a report released on Tuesday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will earn $1.49 per share for the quarter, down from their prior forecast of $1.51. Jefferies Group currently has a “Hold” rating and a $105.00 target price on the stock. Jefferies Group also issued estimates for Digital Realty Trust’s Q3 2017 earnings at $1.49 EPS.
A number of other research firms have also recently issued reports on DLR. Wells Fargo & Company cut shares of Digital Realty Trust from an “outperform” rating to a “market perform” rating and set a $118.00 price objective on the stock. in a research report on Wednesday, May 17th. Macquarie reissued a “neutral” rating and set a $105.00 price objective on shares of Digital Realty Trust in a research report on Thursday, April 6th. Royal Bank Of Canada reissued a “buy” rating and set a $127.00 price objective on shares of Digital Realty Trust in a research report on Thursday, June 8th. Cowen and Company raised shares of Digital Realty Trust from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $106.00 to $126.00 in a research report on Monday. Finally, Barclays PLC reissued an “overweight” rating and set a $123.00 price objective (up previously from $120.00) on shares of Digital Realty Trust in a research report on Wednesday, April 19th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $113.60.
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Shares of Digital Realty Trust (DLR) opened at 117.45 on Thursday. Digital Realty Trust has a 52-week low of $85.63 and a 52-week high of $120.04. The company has a 50 day moving average price of $115.52 and a 200-day moving average price of $106.47. The firm has a market cap of $18.77 billion and a P/E ratio of 50.58.
Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $550.60 million for the quarter, compared to analyst estimates of $552.59 million. Digital Realty Trust had a return on equity of 12.14% and a net margin of 20.48%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 earnings per share.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Digital Realty Trust by 2,651.9% in the first quarter. BlackRock Inc. now owns 15,147,324 shares of the real estate investment trust’s stock valued at $1,611,523,000 after buying an additional 14,596,894 shares during the period. Norges Bank purchased a new stake in Digital Realty Trust during the fourth quarter valued at approximately $108,062,000. JPMorgan Chase & Co. raised its stake in Digital Realty Trust by 34.8% in the first quarter. JPMorgan Chase & Co. now owns 3,325,268 shares of the real estate investment trust’s stock valued at $353,775,000 after buying an additional 857,798 shares during the period. Vanguard Group Inc. raised its stake in Digital Realty Trust by 2.0% in the first quarter. Vanguard Group Inc. now owns 27,643,911 shares of the real estate investment trust’s stock valued at $2,941,034,000 after buying an additional 529,792 shares during the period. Finally, Resolution Capital Ltd purchased a new stake in Digital Realty Trust during the first quarter valued at approximately $55,624,000.
In other Digital Realty Trust news, SVP Joshua A. Mills sold 9,211 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $120.00, for a total value of $1,105,320.00. Following the completion of the sale, the senior vice president now owns 13,377 shares in the company, valued at approximately $1,605,240. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Joshua A. Mills sold 4,217 shares of the stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $107.00, for a total transaction of $451,219.00. Following the completion of the sale, the senior vice president now owns 8,383 shares of the company’s stock, valued at approximately $896,981. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,617 shares of company stock valued at $2,017,329. Company insiders own 0.40% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a $0.93 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $3.72 annualized dividend and a yield of 3.17%. Digital Realty Trust’s dividend payout ratio (DPR) is 158.97%.
About Digital Realty Trust
Digital Realty Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of owning, acquiring, developing and operating data centers. 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.
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