Dupont Fabros Technology Inc. (NYSE:DFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $43.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s price target indicates a potential upside of 9.81% from the company’s previous close.
According to Zacks, “DuPont Fabros Technology, Inc. is a leading owner, developer, operator and manager of wholesale data centers and a real estate investment trust. The Company’s data centers are highly specialized, secure facilities used primarily by national and international technology companies to house, power and cool the computer servers that support many of their most critical business processes. DuPont Fabros Technology is headquartered in Washington, DC. “
Other analysts have also issued research reports about the stock. SunTrust Banks Inc. started coverage on shares of Dupont Fabros Technology in a report on Thursday, July 21st. They set a “buy” rating and a $55.00 price objective for the company. Jefferies Group reaffirmed a “hold” rating and set a $44.00 price objective on shares of Dupont Fabros Technology in a report on Wednesday, July 6th. JPMorgan Chase & Co. raised their price objective on shares of Dupont Fabros Technology from $64.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Citigroup Inc. raised their price objective on shares of Dupont Fabros Technology from $43.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Finally, Raymond James Financial Inc. raised shares of Dupont Fabros Technology from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a report on Wednesday, September 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.57.
Shares of Dupont Fabros Technology (NYSE:DFT) opened at 39.16 on Thursday. The firm’s 50-day moving average is $42.52 and its 200 day moving average is $43.69. Dupont Fabros Technology has a 52 week low of $27.81 and a 52 week high of $48.97. The firm has a market capitalization of $2.95 billion, a P/E ratio of 9790.00 and a beta of 0.60.
Dupont Fabros Technology (NYSE:DFT) last posted its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $128.54 million for the quarter, compared to analyst estimates of $127.15 million. Dupont Fabros Technology had a return on equity of 20.26% and a net margin of 7.67%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. Equities research analysts forecast that Dupont Fabros Technology will post $2.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, October 7th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.80%. Dupont Fabros Technology’s payout ratio is presently -2,349.71%.
A number of institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its position in shares of Dupont Fabros Technology by 9,934.9% in the second quarter. Daiwa Securities Group Inc. now owns 250,872 shares of the real estate investment trust’s stock worth $11,926,000 after buying an additional 248,372 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Dupont Fabros Technology during the first quarter valued at $162,000. National Investment Services Inc. WI purchased a new stake in Dupont Fabros Technology during the second quarter valued at $266,000. State Street Corp raised its stake in Dupont Fabros Technology by 7.4% in the first quarter. State Street Corp now owns 2,112,375 shares of the real estate investment trust’s stock valued at $85,612,000 after buying an additional 146,003 shares during the period. Finally, Shinko Asset Management Co. Ltd. raised its stake in Dupont Fabros Technology by 9.8% in the second quarter. Shinko Asset Management Co. Ltd. now owns 5,700 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 510 shares during the period. 98.20% of the stock is currently owned by hedge funds and other institutional investors.
Dupont Fabros Technology Company Profile
DuPont Fabros Technology, Inc (DFT) is a real estate investment trust (REIT). The Company is a self-administered and self-managed company that owns, acquires, develops and operates wholesale data centers. The Company’s customers outsource their applications, and include national and international enterprises across various industries, such as technology, Internet content providers, media, communications, cloud providers, healthcare and financial services.
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