Digital Realty Trust (NYSE:DLR) Stock Rating Raised to Strong-Buy at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Digital Realty Trust (NYSE:DLR) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks reports.

A number of other analysts have also issued reports on DLR. JPMorgan Chase & Co. lifted their price objective on shares of Digital Realty Trust from $230.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. 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 note on Thursday, September 10th. Cantor Fitzgerald raised their price target on shares of Digital Realty Trust from $211.00 to $221.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Wall Street Zen raised shares of Digital Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Royal Bank Of Canada boosted their price objective on shares of Digital Realty Trust from $207.00 to $227.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.78.

Digital Realty Trust Trading Down 3.2%

NYSE:DLR opened at $170.72 on Tuesday. The business’s 50-day moving average is $183.43 and its two-hundred day moving average is $187.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.06 and a quick ratio of 1.06. Digital Realty Trust has a 12 month low of $146.23 and a 12 month high of $208.14. The firm has a market capitalization of $63.34 billion, a PE ratio of 82.87, a price-to-earnings-growth ratio of 3.38 and a beta of 0.99.

Digital Realty Trust (NYSE:DLR) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.77). The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Digital Realty Trust had a return on equity of 3.34% and a net margin of 11.80%. Digital Realty Trust’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 EPS. Research analysts predict that Digital Realty Trust will post 8.40 earnings per share for the current fiscal year.

Digital Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, September 15th. Digital Realty Trust’s dividend payout ratio is 236.89%.

Insider Activity at Digital Realty Trust

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

Institutional Trading of Digital Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. increased its holdings in shares of Digital Realty Trust by 0.3% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 18,745 shares of the real estate investment trust’s stock valued at $3,378,000 after acquiring an additional 51 shares during the last quarter. Columbia Bank lifted its stake in Digital Realty Trust by 0.9% during the first quarter. Columbia Bank now owns 6,167 shares of the real estate investment trust’s stock worth $1,111,000 after purchasing an additional 53 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Digital Realty Trust by 9.1% during the first quarter. GHP Investment Advisors Inc. now owns 657 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 55 shares during the last quarter. Denali Advisors LLC lifted its stake in Digital Realty Trust by 1.3% during the second quarter. Denali Advisors LLC now owns 4,359 shares of the real estate investment trust’s stock worth $783,000 after purchasing an additional 56 shares during the last quarter. Finally, Twin Capital Management Inc. boosted its holdings in Digital Realty Trust by 1.1% in the first quarter. Twin Capital Management Inc. now owns 5,618 shares of the real estate investment trust’s stock worth $1,012,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.

Digital Realty Trust Company Profile

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.