Wells Fargo & Company Raises Digital Realty Trust (NYSE:DLR) Price Target to $175.00

Digital Realty Trust (NYSE:DLR) had its price objective lifted by Wells Fargo & Company from $170.00 to $175.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on DLR. Stifel Nicolaus lifted their target price on shares of Digital Realty Trust from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 12th. Argus lowered shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets raised shares of Digital Realty Trust from a “market perform” rating to an “outperform” rating and upped their target price for the company from $144.00 to $170.00 in a report on Wednesday, June 26th. Hsbc Global Res raised Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their price objective on Digital Realty Trust from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Digital Realty Trust currently has an average rating of “Hold” and a consensus target price of $157.17.

Digital Realty Trust Price Performance

Shares of DLR opened at $165.38 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78. Digital Realty Trust has a 1-year low of $113.94 and a 1-year high of $165.65. The stock has a market cap of $51.67 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60. The firm has a fifty day moving average price of $155.83 and a 200 day moving average price of $149.76.

Digital Realty Trust (NYSE:DLR) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($1.43). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. As a group, sell-side analysts anticipate that Digital Realty Trust will post 6.65 EPS for the current year.

Digital Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, September 13th. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Insider Activity at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.26, for a total transaction of $90,156.00. Following the sale, the director now directly owns 9,055 shares in the company, valued at approximately $1,360,604.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Institutional Trading of Digital Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of DLR. Meeder Asset Management Inc. acquired a new position in shares of Digital Realty Trust during the 2nd quarter worth approximately $25,000. Gradient Investments LLC lifted its position in shares of Digital Realty Trust by 75.2% in the second quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 76 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of Digital Realty Trust in the second quarter valued at $27,000. Private Ocean LLC acquired a new stake in shares of Digital Realty Trust during the second quarter valued at $27,000. Finally, Rise Advisors LLC increased its position in Digital Realty Trust by 1,125.0% during the 1st quarter. Rise Advisors LLC now owns 196 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Digital Realty Trust Company Profile

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation and efficiently managing Data Gravity challenges.