Digital Realty Trust (NYSE:DLR) Reaches New 1-Year High – Here’s Why

Digital Realty Trust, Inc. (NYSE:DLR) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $193.97 and last traded at $193.61, with a volume of 1074304 shares trading hands. The stock had previously closed at $192.82.

Analyst Upgrades and Downgrades

Several brokerages have commented on DLR. Hsbc Global Res raised Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research report on Friday, October 4th. Raymond James boosted their target price on Digital Realty Trust from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their price objective on shares of Digital Realty Trust from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial lifted their price target on shares of Digital Realty Trust from $168.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, HSBC upgraded Digital Realty Trust from a “reduce” rating to a “hold” rating and upped their target price for the company from $124.00 to $160.00 in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $170.37.

Digital Realty Trust Stock Up 0.6 %

The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average price of $170.20 and a two-hundred day moving average price of $156.89. The company has a market capitalization of $64.36 billion, a price-to-earnings ratio of 162.13, a P/E/G ratio of 5.04 and a beta of 0.59.

Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share (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 firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Digital Realty Trust, Inc. will post 6.71 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 13th will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, December 13th. Digital Realty Trust’s dividend payout ratio is currently 410.08%.

Hedge Funds Weigh In On Digital Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp increased its position in shares of Digital Realty Trust by 6.9% during the third quarter. Synovus Financial Corp now owns 6,530 shares of the real estate investment trust’s stock valued at $1,057,000 after purchasing an additional 421 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Digital Realty Trust during the third quarter valued at approximately $657,000. Sanctuary Advisors LLC raised its position in Digital Realty Trust by 162.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,635 shares of the real estate investment trust’s stock worth $19,684,000 after purchasing an additional 75,214 shares during the last quarter. TCW Group Inc. increased its stake in shares of Digital Realty Trust by 161.0% in the 3rd quarter. TCW Group Inc. now owns 50,696 shares of the real estate investment trust’s stock valued at $8,204,000 after buying an additional 31,272 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in Digital Realty Trust by 6.6% in the third quarter. TD Private Client Wealth LLC now owns 1,087 shares of the real estate investment trust’s stock valued at $176,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

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.