SunTrust Banks, Inc. Reaffirms Buy Rating for Digital Realty Trust, Inc. (DLR)
Digital Realty Trust, Inc. (NYSE:DLR)‘s stock had its “buy” rating reissued by SunTrust Banks, Inc. in a research report issued to clients and investors on Thursday. They presently have a $140.00 target price on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price target would indicate a potential upside of 14.05% from the company’s current price.
A number of other analysts also recently commented on DLR. Royal Bank Of Canada upped their price objective on Digital Realty Trust from $127.00 to $133.00 and gave the stock an “outperform” rating in a report on Wednesday, October 4th. Robert W. Baird restated a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Digital Realty Trust in a report on Tuesday. Citigroup Inc. restated a “neutral” rating and set a $127.00 price objective on shares of Digital Realty Trust in a report on Tuesday, September 26th. Zacks Investment Research upgraded Digital Realty Trust from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Wednesday. Finally, Canaccord Genuity restated a “buy” rating and set a $127.00 price objective on shares of Digital Realty Trust in a report on Friday, August 18th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Digital Realty Trust currently has a consensus rating of “Buy” and an average target price of $122.73.
Digital Realty Trust (NYSE:DLR) traded up 1.77% during midday trading on Thursday, reaching $122.75. The company’s stock had a trading volume of 972,719 shares. Digital Realty Trust has a 52 week low of $85.63 and a 52 week high of $127.23. The stock has a market capitalization of $19.91 billion, a PE ratio of 49.86 and a beta of 0.01. The firm’s 50-day moving average price is $118.30 and its 200-day moving average price is $114.84.
Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. The business had revenue of $565.99 million during the quarter, compared to the consensus estimate of $559.93 million. Digital Realty Trust had a return on equity of 12.39% and a net margin of 21.27%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 EPS. On average, analysts anticipate that Digital Realty Trust will post $1.47 earnings per share for the current year.
In other Digital Realty Trust news, insider Christopher Sharp sold 25,733 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $116.44, for a total value of $2,996,350.52. Following the completion of the transaction, the insider now directly owns 25,733 shares of the company’s stock, valued at approximately $2,996,350.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William G. Laperch acquired 1,200 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $25.00 per share, with a total value of $30,000.00. Following the completion of the transaction, the director now owns 1,200 shares in the company, valued at $30,000. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Digital Realty Trust by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 27,928,426 shares of the real estate investment trust’s stock valued at $3,154,515,000 after buying an additional 284,515 shares during the last quarter. BlackRock Inc. boosted its position in Digital Realty Trust by 2.8% in the 2nd quarter. BlackRock Inc. now owns 15,575,651 shares of the real estate investment trust’s stock valued at $1,759,269,000 after buying an additional 428,327 shares during the last quarter. State Street Corp boosted its position in Digital Realty Trust by 0.7% in the 1st quarter. State Street Corp now owns 9,346,575 shares of the real estate investment trust’s stock valued at $994,387,000 after buying an additional 69,272 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Digital Realty Trust by 7.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,569,263 shares of the real estate investment trust’s stock valued at $403,148,000 after buying an additional 243,995 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Digital Realty Trust by 4.8% in the 2nd quarter. Northern Trust Corp now owns 2,909,241 shares of the real estate investment trust’s stock valued at $328,599,000 after buying an additional 134,121 shares during the last quarter.
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.
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.