Occidental Asset Management LLC Acquires New Stake in Digital Realty Trust, Inc. (NYSE:DLR)

Occidental Asset Management LLC purchased a new position in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,539 shares of the real estate investment trust's stock, valued at approximately $1,374,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Digital Realty Trust by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 47,552,026 shares of the real estate investment trust's stock valued at $6,399,552,000 after acquiring an additional 161,178 shares in the last quarter. Norges Bank bought a new position in shares of Digital Realty Trust in the fourth quarter worth approximately $2,141,890,000. Principal Financial Group Inc. raised its stake in Digital Realty Trust by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 5,829,206 shares of the real estate investment trust's stock valued at $784,495,000 after purchasing an additional 97,509 shares in the last quarter. Morgan Stanley lifted its position in Digital Realty Trust by 6.8% during the third quarter. Morgan Stanley now owns 4,426,189 shares of the real estate investment trust's stock valued at $535,658,000 after purchasing an additional 282,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Digital Realty Trust by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,236,434 shares of the real estate investment trust's stock worth $435,559,000 after buying an additional 85,262 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on DLR shares. JPMorgan Chase & Co. upgraded shares of Digital Realty Trust from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $150.00 to $175.00 in a research report on Friday. Royal Bank of Canada upped their price objective on Digital Realty Trust from $144.00 to $160.00 and gave the stock an "outperform" rating in a report on Monday, June 3rd. Morgan Stanley raised their price objective on Digital Realty Trust from $100.00 to $108.00 and gave the company an "equal weight" rating in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft upped their target price on Digital Realty Trust from $143.00 to $145.00 and gave the stock a "hold" rating in a research note on Thursday, May 30th. Finally, Evercore ISI reissued an "outperform" rating and set a $154.00 price target on shares of Digital Realty Trust in a research note on Wednesday, March 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $148.00.

Digital Realty Trust Trading Up 2.2 %

Shares of DLR traded up $3.33 during mid-day trading on Friday, hitting $152.05. 3,406,272 shares of the company's stock traded hands, compared to its average volume of 1,479,737. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $47.50 billion, a P/E ratio of 42.24, a PEG ratio of 19.47 and a beta of 0.57. The business's 50-day moving average price is $144.67 and its 200-day moving average price is $141.68. Digital Realty Trust, Inc. has a 1 year low of $108.68 and a 1 year high of $154.18.

Digital Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.88 annualized dividend and a yield of 3.21%. Digital Realty Trust's dividend payout ratio (DPR) is presently 135.56%.

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.