Digital Realty Trust (NYSE:DLR) Stock Price Target Cut by Freedom Broker

Digital Realty Trust (NYSE:DLR) had its target price cut by equities researchers at Freedom Broker from $233.00 to $227.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Freedom Broker‘s target price points to a potential upside of 25.93% from the company’s current price.

A number of other research firms also recently issued reports on DLR. Wall Street Zen upgraded shares of Digital Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings lowered shares of Digital Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $229.00 price objective on shares of Digital Realty Trust in a research note on Friday. BTIG Research upped their target price on shares of Digital Realty Trust from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Finally, TD Cowen raised Digital Realty Trust from a “hold” rating to a “buy” rating and increased their price target for the company from $192.00 to $222.00 in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Digital Realty Trust has an average rating of “Moderate Buy” and an average target price of $221.53.

Digital Realty Trust Stock Down 0.2%

NYSE DLR opened at $180.26 on Friday. The stock has a fifty day moving average of $181.45 and a 200-day moving average of $182.91. The stock has a market capitalization of $66.88 billion, a P/E ratio of 75.42, a price-to-earnings-growth ratio of 3.47 and a beta of 0.97. Digital Realty Trust has a 52 week low of $146.23 and a 52 week high of $208.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 0.72.

Digital Realty Trust (NYSE:DLR) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.75 billion. Digital Realty Trust had a return on equity of 3.68% and a net margin of 13.06%. The company’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities research analysts forecast that Digital Realty Trust will post 8.37 EPS for the current year.

Insiders Place Their Bets

In other Digital Realty Trust news, Director Mark Patterson sold 200 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $193.96, for a total value of $38,792.00. Following the sale, the director directly owned 6,322 shares in the company, valued at approximately $1,226,215.12. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Digital Realty Trust

A number of large investors have recently made changes to their positions in the company. Montecito Bank & Trust boosted its holdings in shares of Digital Realty Trust by 413.2% during the third quarter. Montecito Bank & Trust now owns 22,915 shares of the real estate investment trust’s stock worth $4,022,000 after acquiring an additional 18,450 shares during the period. NewEdge Advisors LLC increased its stake in shares of Digital Realty Trust by 88.0% during the second quarter. NewEdge Advisors LLC now owns 43,832 shares of the real estate investment trust’s stock worth $7,871,000 after purchasing an additional 20,513 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Digital Realty Trust by 40.6% during the second quarter. Benjamin Edwards Inc. now owns 88,953 shares of the real estate investment trust’s stock worth $15,978,000 after purchasing an additional 25,667 shares during the period. Beacon Pointe Advisors LLC bought a new stake in Digital Realty Trust in the 2nd quarter valued at $3,286,000. Finally, Galaxy Digital Capital Management GP LLC bought a new stake in Digital Realty Trust in the 2nd quarter valued at $2,837,000. Institutional investors own 99.71% of the company’s stock.

About Digital Realty Trust

Digital Realty Trust, Inc is a real estate investment trust that owns, operates and develops data center facilities for businesses, cloud service providers, information technology companies and telecommunications organizations. The company provides the physical infrastructure needed to support data storage, networking, cloud computing and other digital operations.

Its services include data center colocation, interconnection and private connectivity solutions. Digital Realty also offers access to cloud and network providers through its PlatformDIGITAL platform, which is designed to help customers deploy, connect and manage their digital infrastructure across multiple locations.

Founded in 2001, Digital Realty serves customers through a global portfolio of data centers and related facilities across North America, Europe, Asia-Pacific and Latin America.