Novare Capital Management LLC Cuts Holdings in Digital Realty Trust, Inc. (NYSE:DLR)

Novare Capital Management LLC lessened its holdings in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 9.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,324 shares of the real estate investment trust's stock after selling 7,701 shares during the period. Novare Capital Management LLC's holdings in Digital Realty Trust were worth $11,909,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gilman Hill Asset Management LLC grew its stake in shares of Digital Realty Trust by 1.1% during the second quarter. Gilman Hill Asset Management LLC now owns 6,179 shares of the real estate investment trust's stock valued at $940,000 after purchasing an additional 65 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in Digital Realty Trust by 1.2% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,301 shares of the real estate investment trust's stock valued at $848,000 after acquiring an additional 72 shares during the last quarter. Gradient Investments LLC boosted its stake in Digital Realty Trust by 75.2% in the second quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 76 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in Digital Realty Trust by 5.1% in the second quarter. CHICAGO TRUST Co NA now owns 1,713 shares of the real estate investment trust's stock valued at $260,000 after acquiring an additional 83 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in Digital Realty Trust by 13.6% in the first quarter. CENTRAL TRUST Co now owns 700 shares of the real estate investment trust's stock valued at $101,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Insider Activity

In other news, Director Jean F. H. P. Mandeville sold 600 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the sale, the director now directly owns 9,055 shares of the company's stock, valued at approximately $1,360,604.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on DLR. Royal Bank of Canada raised their price objective on shares of Digital Realty Trust from $144.00 to $160.00 and gave the company an "outperform" rating in a research note on Monday, June 3rd. Wells Fargo & Company lifted their price target on shares of Digital Realty Trust from $155.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 23rd. Truist Financial boosted their price target on shares of Digital Realty Trust from $160.00 to $168.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. TD Cowen decreased their price target on shares of Digital Realty Trust from $122.00 to $120.00 and set a "hold" rating for the company in a report on Friday, July 26th. Finally, Mizuho initiated coverage on shares of Digital Realty Trust in a report on Thursday, July 11th. They issued an "outperform" rating and a $170.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Digital Realty Trust presently has an average rating of "Hold" and a consensus target price of $154.00.

Digital Realty Trust Stock Down 1.2 %

NYSE:DLR traded down $1.82 on Tuesday, hitting $149.79. 1,604,930 shares of the company's stock were exchanged, compared to its average volume of 1,851,571. The firm has a 50-day moving average price of $151.37 and a 200-day moving average price of $146.09. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78. Digital Realty Trust, Inc. has a 52 week low of $113.94 and a 52 week high of $162.58. The company has a market cap of $49.04 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 4.84 and a beta of 0.59.

Digital Realty Trust (NYSE:DLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 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 the consensus estimate of $1.38 billion. During the same period last year, the firm earned $1.68 earnings per share. The company's quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts expect that Digital Realty Trust, Inc. will post 6.65 EPS for the current fiscal year.

Digital Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.26%. Digital Realty Trust's payout ratio is 135.56%.

Digital Realty Trust 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.