DIGITAL RLTY TR/SH (NYSE:DLR) – Research analysts at SunTrust Banks lifted their Q1 2020 earnings estimates for shares of DIGITAL RLTY TR/SH in a note issued to investors on Wednesday, July 31st, according to Zacks Investment Research. SunTrust Banks analyst G. Miller now forecasts that the real estate investment trust will post earnings of $1.75 per share for the quarter, up from their prior estimate of $1.73. SunTrust Banks also issued estimates for DIGITAL RLTY TR/SH’s Q3 2020 earnings at $1.78 EPS.
Several other research firms have also weighed in on DLR. Royal Bank of Canada set a $130.00 target price on DIGITAL RLTY TR/SH and gave the company a “buy” rating in a report on Friday, August 9th. Argus began coverage on DIGITAL RLTY TR/SH in a report on Wednesday, July 3rd. They issued a “buy” rating and a $140.00 target price on the stock. Zacks Investment Research upgraded DIGITAL RLTY TR/SH from a “sell” rating to a “hold” rating and set a $125.00 price objective on the stock in a research report on Friday, June 28th. Cowen set a $125.00 price objective on DIGITAL RLTY TR/SH and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, ValuEngine downgraded DIGITAL RLTY TR/SH from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $126.92.
DIGITAL RLTY TR/SH (NYSE:DLR) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($1.48). The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.48 million. DIGITAL RLTY TR/SH had a net margin of 10.00% and a return on equity of 3.01%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLR. Comerica Securities Inc. bought a new stake in shares of DIGITAL RLTY TR/SH in the fourth quarter worth approximately $201,000. Dimensional Fund Advisors LP grew its stake in shares of DIGITAL RLTY TR/SH by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,113,241 shares of the real estate investment trust’s stock worth $331,715,000 after acquiring an additional 11,115 shares during the period. Geode Capital Management LLC grew its stake in shares of DIGITAL RLTY TR/SH by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 3,250,993 shares of the real estate investment trust’s stock worth $345,892,000 after acquiring an additional 217,995 shares during the period. Gotham Asset Management LLC bought a new stake in shares of DIGITAL RLTY TR/SH in the fourth quarter worth approximately $420,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of DIGITAL RLTY TR/SH in the fourth quarter worth approximately $589,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.
In related news, insider Edward F. Sham sold 11,400 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $122.00, for a total transaction of $1,390,800.00. Following the transaction, the insider now directly owns 15,738 shares in the company, valued at $1,920,036. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Kennedy sold 300 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $125.00, for a total value of $37,500.00. Following the transaction, the director now owns 300 shares in the company, valued at $37,500. The disclosure for this sale can be found here. Insiders sold 12,400 shares of company stock worth $1,513,104 over the last 90 days. Company insiders own 0.49% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $1.08 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $4.32 annualized dividend and a dividend yield of 3.58%. DIGITAL RLTY TR/SH’s dividend payout ratio is currently 65.45%.
About DIGITAL RLTY TR/SH
Digital Realty supports the data center, colocation and interconnection strategies of more than 2,300 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products.
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