Digital Realty Trust, Inc. $DLR Stock: Cornerstone Advisors LLC Decreases Stake

Cornerstone Advisors LLC lowered its holdings in Digital Realty Trust, Inc. (NYSE:DLR) by 11.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 82,291 shares of the real estate investment trust’s stock after selling 10,623 shares during the period. Cornerstone Advisors LLC’s holdings in Digital Realty Trust were worth $14,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Digital Realty Trust in the second quarter valued at approximately $7,277,032,000. Bank of America Corp DE grew its stake in shares of Digital Realty Trust by 6.0% in the first quarter. Bank of America Corp DE now owns 9,470,695 shares of the real estate investment trust’s stock worth $1,706,714,000 after acquiring an additional 534,158 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Digital Realty Trust during the second quarter worth $1,178,095,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Digital Realty Trust by 17,256.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,890,993 shares of the real estate investment trust’s stock worth $878,325,000 after acquiring an additional 4,862,814 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Digital Realty Trust by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,850,416 shares of the real estate investment trust’s stock worth $874,046,000 after acquiring an additional 35,850 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark Patterson sold 200 shares of the company’s stock in a transaction dated 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 owned 6,322 shares of the company’s stock, valued at $1,226,215.12. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DLR shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $229.00 price target on shares of Digital Realty Trust in a report on Friday, October 30th. Citigroup raised their price target on shares of Digital Realty Trust from $226.00 to $234.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Digital Realty Trust from $230.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Canadian Imperial Bank of Commerce began coverage on shares of Digital Realty Trust in a research report on Tuesday, October 20th. They set an “outperform” rating and a $213.00 price objective for the company. Finally, Rothschild & Co Redburn began coverage on shares of Digital Realty Trust in a research note on Monday, September 21st. They issued a “buy” rating and a $227.00 target price for the company. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.53.

Digital Realty Trust Stock Down 2.0%

Shares of DLR stock opened at $179.82 on Friday. The stock has a market cap of $68.03 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 3.60 and a beta of 0.97. Digital Realty Trust, Inc. has a one year low of $146.23 and a one year high of $208.14. The stock has a fifty day moving average price of $179.71 and a 200 day moving average price of $183.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.72 and a quick ratio of 0.72.

Digital Realty Trust (NYSE:DLR) last posted its quarterly 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.75 billion. Digital Realty Trust had a return on equity of 3.68% and a net margin of 13.06%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. Analysts predict that Digital Realty Trust, Inc. will post 8.40 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, December 15th. Digital Realty Trust’s payout ratio is 204.18%.

Digital Realty Trust Profile

Digital Realty Trust, Inc. is a real estate investment trust that owns, operates and develops data centers. Its facilities support customers’ IT infrastructure, including the equipment and systems used to store, process and exchange digital information. The company provides data center space and related services, including colocation, interconnection and access to cloud and network providers. Its PlatformDIGITAL offering connects businesses with customers, partners and service providers across its data center portfolio.