Meridian Wealth Management LLC Buys New Shares in Digital Realty Trust, Inc. (NYSE:DLR)

Meridian Wealth Management LLC bought a new stake in shares of Digital Realty Trust, Inc. (NYSE:DLR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,133 shares of the real estate investment trust’s stock, valued at approximately $3,582,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in shares of Digital Realty Trust during the second quarter valued at approximately $25,000. Gradient Investments LLC increased its stake in shares of Digital Realty Trust by 75.2% during the 2nd quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 76 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of Digital Realty Trust during the 2nd quarter worth $27,000. Private Ocean LLC acquired a new position in shares of Digital Realty Trust during the 2nd quarter worth $27,000. Finally, Asset Dedication LLC bought a new stake in shares of Digital Realty Trust during the 2nd quarter worth $31,000. 99.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Digital Realty Trust from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial upped their price objective on shares of Digital Realty Trust from $168.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of Digital Realty Trust from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Raymond James upped their price objective on shares of Digital Realty Trust from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Finally, Evercore ISI upped their price objective on shares of Digital Realty Trust from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $170.37.

Digital Realty Trust Price Performance

NYSE:DLR opened at $189.86 on Friday. The company has a 50-day moving average of $169.56 and a 200-day moving average of $156.35. The company has a market capitalization of $62.98 billion, a price-to-earnings ratio of 159.55, a PEG ratio of 4.97 and a beta of 0.59. Digital Realty Trust, Inc. has a 52 week low of $130.00 and a 52 week high of $193.88. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.61 and a current ratio of 1.61.

Digital Realty Trust (NYSE:DLR) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. Digital Realty Trust had a return on equity of 2.24% and a net margin of 8.04%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 EPS. As a group, equities research analysts anticipate that Digital Realty Trust, Inc. will post 6.71 earnings per share for the current fiscal year.

Digital Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 13th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, December 13th. Digital Realty Trust’s dividend payout ratio (DPR) is currently 410.08%.

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.