Evercore ISI Boosts Digital Realty Trust (NYSE:DLR) Price Target to $175.00

Digital Realty Trust (NYSE:DLR) had its target price raised by Evercore ISI from $160.00 to $175.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the stock. Truist Financial raised their target price on shares of Digital Realty Trust from $160.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Mizuho began coverage on Digital Realty Trust in a research report on Thursday, July 11th. They issued an “outperform” rating and a $170.00 price objective for the company. Stifel Nicolaus increased their target price on Digital Realty Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. HSBC upgraded Digital Realty Trust from a “reduce” rating to a “hold” rating and lifted their price target for the company from $124.00 to $160.00 in a report on Friday, October 4th. Finally, BMO Capital Markets upgraded shares of Digital Realty Trust from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $144.00 to $170.00 in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $158.33.

Digital Realty Trust Stock Performance

NYSE DLR opened at $165.80 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. The stock has a market cap of $51.80 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60. Digital Realty Trust has a fifty-two week low of $116.18 and a fifty-two week high of $166.57. The business has a fifty day moving average of $156.77 and a 200-day moving average of $150.27.

Digital Realty Trust (NYSE:DLR) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Digital Realty Trust’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.68 earnings per share. As a group, analysts predict that Digital Realty Trust will post 6.65 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, September 13th. Digital Realty Trust’s payout ratio is 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 company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.26, for a total value of $90,156.00. Following the completion of the transaction, the director now owns 9,055 shares in the company, valued at $1,360,604.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Digital Realty Trust

Several large investors have recently modified their holdings of the business. Los Angeles Capital Management LLC grew its stake in Digital Realty Trust by 29.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,538 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 583 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Digital Realty Trust by 122.4% during the first quarter. Sound Income Strategies LLC now owns 407 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 224 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Digital Realty Trust in the first quarter worth $34,000. GoalVest Advisory LLC acquired a new stake in Digital Realty Trust in the first quarter valued at $29,000. Finally, Ameliora Wealth Management Ltd. bought a new position in Digital Realty Trust during the 1st quarter valued at $151,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

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.