Digital Realty Trust (NYSE:DLR) Now Covered by Bank of America

Bank of America initiated coverage on shares of Digital Realty Trust (NYSE:DLR) in a research report released on Monday. The firm issued a buy rating and a $210.00 price objective on the real estate investment trust’s stock.

Other analysts have also issued reports about the stock. Mizuho reduced their price objective on shares of Digital Realty Trust from $211.00 to $177.00 and set an “outperform” rating for the company in a research note on Friday, March 28th. Barclays dropped their price target on shares of Digital Realty Trust from $142.00 to $139.00 and set an “underweight” rating on the stock in a report on Thursday, March 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $193.00 price target (up previously from $190.00) on shares of Digital Realty Trust in a report on Friday, April 25th. Oppenheimer initiated coverage on shares of Digital Realty Trust in a report on Wednesday, May 14th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Digital Realty Trust from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.10.

Digital Realty Trust Stock Up 0.4%

NYSE:DLR opened at $170.69 on Monday. The firm has a market cap of $57.49 billion, a P/E ratio of 105.36, a P/E/G ratio of 4.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.61 and a current ratio of 2.07. Digital Realty Trust has a fifty-two week low of $129.95 and a fifty-two week high of $198.00. The firm has a 50-day simple moving average of $152.91 and a two-hundred day simple moving average of $167.21.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.04. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Digital Realty Trust had a net margin of 10.85% and a return on equity of 2.97%. Digital Realty Trust’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.67 EPS. Analysts predict that Digital Realty Trust will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 2.86%. The ex-dividend date was Friday, March 14th. Digital Realty Trust’s dividend payout ratio is currently 456.07%.

Hedge Funds Weigh In On Digital Realty Trust

Several large investors have recently added to or reduced their stakes in DLR. Merit Financial Group LLC purchased a new position in Digital Realty Trust during the fourth quarter valued at approximately $571,000. HB Wealth Management LLC raised its position in shares of Digital Realty Trust by 21.7% during the fourth quarter. HB Wealth Management LLC now owns 8,250 shares of the real estate investment trust’s stock valued at $1,463,000 after buying an additional 1,469 shares during the last quarter. Harbor Investment Advisory LLC raised its position in shares of Digital Realty Trust by 53.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 16,561 shares of the real estate investment trust’s stock valued at $2,937,000 after buying an additional 5,788 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Digital Realty Trust by 1.9% during the fourth quarter. Ballentine Partners LLC now owns 7,653 shares of the real estate investment trust’s stock valued at $1,357,000 after buying an additional 146 shares during the last quarter. Finally, First United Bank & Trust raised its position in shares of Digital Realty Trust by 10.9% during the fourth quarter. First United Bank & Trust now owns 5,094 shares of the real estate investment trust’s stock valued at $903,000 after buying an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Digital Realty Trust Company Profile

Digital Realty Trust, Inc operates as a real estate investment trust, which engages in the provision of data center, colocation and interconnection solutions. It serves the following industries: artificial intelligence (AI), networks, cloud, digital media, mobile, financial services, healthcare, and gaming.