Condor Capital Management Makes New Investment in Digital Realty Trust, Inc. (NYSE:DLR)

Condor Capital Management purchased a new stake in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,698 shares of the real estate investment trust's stock, valued at approximately $1,627,000.

A number of other hedge funds also recently added to or reduced their stakes in DLR. Meeder Asset Management Inc. purchased a new position in Digital Realty Trust in the 2nd quarter worth about $25,000. American Capital Advisory LLC bought a new position in Digital Realty Trust during the second quarter valued at approximately $27,000. Private Ocean LLC purchased a new stake in Digital Realty Trust in the second quarter worth approximately $27,000. Gradient Investments LLC grew its position in Digital Realty Trust by 75.2% in 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 period. Finally, Rise Advisors LLC raised its stake in Digital Realty Trust by 1,125.0% during the 1st 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 last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DLR shares. JPMorgan Chase & Co. raised Digital Realty Trust from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $150.00 to $175.00 in a report on Friday, June 28th. Royal Bank of Canada upped their price target on shares of Digital Realty Trust from $144.00 to $160.00 and gave the company an "outperform" rating in a research report on Monday, June 3rd. The Goldman Sachs Group started coverage on shares of Digital Realty Trust in a report on Monday, July 1st. They set a "buy" rating and a $175.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Digital Realty Trust from $155.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, July 23rd. Finally, Truist Financial lifted their target price on Digital Realty Trust from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $154.00.

Insiders Place Their Bets

In related 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 transaction of $90,156.00. Following the transaction, the director now directly owns 9,055 shares in the company, valued at approximately $1,360,604.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Digital Realty Trust Price Performance

NYSE:DLR traded down $0.34 during trading hours on Friday, reaching $158.93. The stock had a trading volume of 1,466,992 shares, compared to its average volume of 1,837,558. The stock has a market capitalization of $49.65 billion, a PE ratio of 44.15, a PEG ratio of 5.06 and a beta of 0.60. Digital Realty Trust, Inc. has a 52 week low of $113.94 and a 52 week high of $162.58. The company has a 50 day moving average price of $151.84 and a two-hundred day moving average price of $146.97. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.78.

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

Digital Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given 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 yield of 3.07%. Digital Realty Trust's dividend payout ratio 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.