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

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

A number of other hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its holdings in Digital Realty Trust by 3.1% in the 2nd 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 during the period. Legal & General Group Plc boosted its holdings in shares of Digital Realty Trust by 2.8% in the 2nd 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 buying an additional 129,799 shares during the period. Daiwa Securities Group Inc. raised its stake in Digital Realty Trust by 16.8% during the second quarter. Daiwa Securities Group Inc. now owns 4,725,971 shares of the real estate investment trust's stock worth $718,584,000 after acquiring an additional 678,165 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Digital Realty Trust by 5.3% in 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. Finally, Bank of New York Mellon Corp increased its holdings in shares of Digital Realty Trust by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,351,319 shares of the real estate investment trust's stock worth $357,518,000 after acquiring an additional 60,821 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

DLR has been the subject of a number of research analyst reports. HSBC raised shares of Digital Realty Trust from a "reduce" rating to a "hold" rating and upped their price target for the stock from $124.00 to $160.00 in a research note on Friday, October 4th. Evercore ISI increased their target price on shares of Digital Realty Trust from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. TD Cowen lifted their price target on shares of Digital Realty Trust from $120.00 to $128.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. 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 research note on Friday, October 25th. Finally, Hsbc Global Res raised Digital Realty Trust from a "moderate sell" rating to a "hold" rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $170.37.

Digital Realty Trust Stock Up 1.3 %

NYSE DLR traded up $2.47 during trading on Friday, hitting $189.84. 2,526,522 shares of the company traded hands, compared to its average volume of 2,415,356. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $62.97 billion, a P/E ratio of 159.55, a PEG ratio of 4.97 and a beta of 0.59. The business has a fifty day simple moving average of $169.56 and a 200 day simple moving average of $156.35. Digital Realty Trust, Inc. has a 12 month low of $130.00 and a 12 month high of $193.88.

Digital Realty Trust (NYSE:DLR - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $1.67 by ($1.58). Digital Realty Trust had a net margin of 8.04% and a return on equity of 2.24%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $1.62 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Digital Realty Trust, Inc. will post 6.71 EPS for the current year.

Digital Realty Trust Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.88 annualized dividend and a dividend yield of 2.57%. Digital Realty Trust's dividend payout ratio is presently 410.08%.

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.