Digital Realty Trust (NYSE:DLR) Sets New 52-Week High After Analyst Upgrade

Digital Realty Trust, Inc. (NYSE:DLR - Get Free Report) reached a new 52-week high during trading on Friday after Wells Fargo & Company raised their price target on the stock from $170.00 to $175.00. Wells Fargo & Company currently has an overweight rating on the stock. Digital Realty Trust traded as high as $165.32 and last traded at $165.25, with a volume of 341058 shares changing hands. The stock had previously closed at $163.69.

Other analysts also recently issued research reports about the stock. BMO Capital Markets upgraded shares of Digital Realty Trust from a "market perform" rating to an "outperform" rating and upped their price target for the company from $144.00 to $170.00 in a research report on Wednesday, June 26th. The Goldman Sachs Group began coverage on Digital Realty Trust in a report on Monday, July 1st. They set a "buy" rating and a $175.00 price target on the stock. HSBC raised Digital Realty Trust from a "reduce" rating to a "hold" rating and upped their price objective for the company from $124.00 to $160.00 in a research note on Friday, October 4th. TD Cowen lowered their target price on Digital Realty Trust from $122.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, July 26th. Finally, Mizuho started coverage on Digital Realty Trust in a research note on Thursday, July 11th. They set an "outperform" rating and a $170.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $157.17.

Insider Activity at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the business's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.26, for a total transaction of $90,156.00. Following the sale, the director now directly owns 9,055 shares in the company, valued at approximately $1,360,604.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Digital Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in shares of Digital Realty Trust in the second quarter valued at $25,000. Gradient Investments LLC boosted 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 purchased a new stake in shares of Digital Realty Trust during the second quarter worth about $27,000. Private Ocean LLC acquired a new position in shares of Digital Realty Trust in the second quarter valued at approximately $27,000. Finally, Rise Advisors LLC lifted its stake in shares of Digital Realty Trust by 1,125.0% during the first quarter. Rise Advisors LLC now owns 196 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Digital Realty Trust Stock Performance

The stock's 50-day moving average is $155.83 and its 200-day moving average is $149.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market cap of $51.66 billion, a price-to-earnings ratio of 45.93, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60.

Digital Realty Trust (NYSE:DLR - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($1.43). Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business earned $1.68 EPS. Digital Realty Trust's revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Digital Realty Trust, Inc. will post 6.65 EPS for the current fiscal year.

Digital Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $1.22 per share. The ex-dividend date was Friday, September 13th. This represents a $4.88 annualized dividend and a dividend yield of 2.95%. Digital Realty Trust's payout ratio is currently 135.56%.

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.