Wells Fargo & Company Increases Digital Realty Trust (NYSE:DLR) Price Target to $185.00

Digital Realty Trust (NYSE:DLR) had its target price raised by equities researchers at Wells Fargo & Company from $175.00 to $185.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 2.20% from the company’s previous close.

DLR has been the subject of several other reports. Truist Financial lifted their price target on shares of Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Hsbc Global Res raised Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a report on Friday, October 4th. Barclays increased their target price on Digital Realty Trust from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Argus downgraded shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on Digital Realty Trust in a research note on Monday, July 1st. They set a “buy” rating and a $175.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $165.21.

Digital Realty Trust Stock Up 9.6 %

Shares of DLR opened at $181.01 on Friday. Digital Realty Trust has a 12 month low of $116.73 and a 12 month high of $193.88. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $157.70 and a two-hundred day moving average price of $150.67. The stock has a market cap of $56.55 billion, a price-to-earnings ratio of 50.28, a P/E/G ratio of 5.08 and a beta of 0.60.

Digital Realty Trust (NYSE:DLR) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. Equities analysts predict that Digital Realty Trust will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the completion of the transaction, the director now directly owns 9,055 shares of the company’s stock, valued at approximately $1,360,604.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Digital Realty Trust by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 48,503,593 shares of the real estate investment trust’s stock valued at $6,986,458,000 after acquiring an additional 951,567 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Digital Realty Trust by 3.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,826,432 shares of the real estate investment trust’s stock worth $733,859,000 after buying an additional 146,183 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Digital Realty Trust by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 4,730,168 shares of the real estate investment trust’s stock valued at $719,222,000 after acquiring an additional 129,799 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Digital Realty Trust by 16.8% in the second quarter. Daiwa Securities Group Inc. now owns 4,725,971 shares of the real estate investment trust’s stock valued at $718,584,000 after acquiring an additional 678,165 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Digital Realty Trust by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,541,327 shares of the real estate investment trust’s stock worth $690,498,000 after acquiring an additional 228,585 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

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.