Digital Realty Trust (NYSE:DLR) has been assigned a $95.00 price target by equities research analysts at Credit Suisse Group in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Credit Suisse Group’s price target suggests a potential downside of 14.50% from the stock’s current price.
The analysts wrote, “We identified cloud on-ramps as a key enabler for this trend and the sector in our 2018 Outlook, “The Cloud Has Four Walls.” ORCL Cloud On-Ramp News Supportive of DLR 2018 Strategy, But Not Transformative: Digital Realty is the second largest multi-tenant data center operator, after EQIX, hosting various types of cloud customers, but remains in the process of transitioning its business as it further monetizes recent joint venture partnerships and integrates major acquisitions.””
DLR has been the topic of several other reports. SunTrust Banks reaffirmed a “buy” rating and issued a $135.00 target price on shares of Digital Realty Trust in a research report on Friday, November 24th. Zacks Investment Research raised Digital Realty Trust from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Monday, October 30th. Deutsche Bank raised Digital Realty Trust from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Wednesday, January 10th. KeyCorp set a $130.00 target price on Digital Realty Trust and gave the stock a “buy” rating in a research report on Sunday, October 29th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $127.00 target price on shares of Digital Realty Trust in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Digital Realty Trust currently has an average rating of “Buy” and a consensus price target of $123.40.
Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $1.11. Digital Realty Trust had a return on equity of 5.15% and a net margin of 11.71%. The company had revenue of $609.90 million for the quarter, compared to analyst estimates of $595.49 million. During the same quarter in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. sell-side analysts expect that Digital Realty Trust will post 6.1 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. MHI Funds LLC acquired a new position in Digital Realty Trust in the fourth quarter worth about $2,697,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Digital Realty Trust in the fourth quarter worth about $336,000. Strs Ohio lifted its holdings in Digital Realty Trust by 3.4% in the fourth quarter. Strs Ohio now owns 285,589 shares of the real estate investment trust’s stock worth $32,528,000 after acquiring an additional 9,500 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Digital Realty Trust by 14.9% in the fourth quarter. State of Alaska Department of Revenue now owns 115,221 shares of the real estate investment trust’s stock worth $13,121,000 after acquiring an additional 14,945 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Digital Realty Trust by 6.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,937,283 shares of the real estate investment trust’s stock worth $220,657,000 after acquiring an additional 115,632 shares during the last quarter. Institutional investors own 98.31% of the company’s stock.
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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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