Truist Financial Issues Positive Forecast for Digital Realty Trust (NYSE:DLR) Stock Price

Digital Realty Trust (NYSE:DLR) had its price objective upped by investment analysts at Truist Financial from $168.00 to $202.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price suggests a potential upside of 11.29% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Evercore ISI raised their target price on shares of Digital Realty Trust from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Digital Realty Trust from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company increased their target price on Digital Realty Trust from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. HSBC raised Digital Realty Trust from a “reduce” rating to a “hold” rating and raised their price target for the stock from $124.00 to $160.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada increased their price objective on shares of Digital Realty Trust from $177.00 to $207.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $169.47.

Digital Realty Trust Price Performance

NYSE:DLR traded down $1.35 during mid-day trading on Tuesday, hitting $181.50. 476,284 shares of the company’s stock traded hands, compared to its average volume of 1,851,794. Digital Realty Trust has a 1 year low of $126.87 and a 1 year high of $193.88. The company has a market cap of $60.21 billion, a PE ratio of 152.52, a price-to-earnings-growth ratio of 4.83 and a beta of 0.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.61. The firm’s 50 day simple moving average is $164.17 and its 200 day simple moving average is $153.92.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.58). Digital Realty Trust had a return on equity of 2.24% and a net margin of 8.04%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that Digital Realty Trust will post 6.71 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Digital Realty Trust by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 48,503,593 shares of the real estate investment trust’s stock worth $6,986,458,000 after buying an additional 951,567 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Digital Realty Trust by 3.1% in the second quarter. Canada Pension Plan Investment Board now owns 4,826,432 shares of the real estate investment trust’s stock worth $733,859,000 after acquiring an additional 146,183 shares in the last quarter. Legal & General Group Plc boosted its holdings in Digital Realty Trust by 2.8% in the second quarter. Legal & General Group Plc now owns 4,730,168 shares of the real estate investment trust’s stock valued at $719,222,000 after purchasing an additional 129,799 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Digital Realty Trust by 16.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,725,971 shares of the real estate investment trust’s stock valued at $718,584,000 after purchasing an additional 678,165 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Digital Realty Trust by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,541,327 shares of the real estate investment trust’s stock worth $690,498,000 after purchasing an additional 228,585 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

About Digital Realty Trust

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.