Truist Financial Forecasts Strong Price Appreciation for Digital Realty Trust (NYSE:DLR) Stock

Digital Realty Trust (NYSE:DLR) had its target price hoisted by equities research analysts at Truist Financial from $168.00 to $202.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective indicates a potential upside of 11.29% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of Digital Realty Trust in a research report on Friday, October 25th. Jefferies Financial Group raised their target price on Digital Realty Trust from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Digital Realty Trust from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Raymond James increased their price objective on shares of Digital Realty Trust from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Finally, TD Cowen boosted their target price on shares of Digital Realty Trust from $120.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $169.47.

Digital Realty Trust Stock Performance

DLR traded down $1.35 during trading hours on Tuesday, hitting $181.50. 476,284 shares of the stock were exchanged, compared to its average volume of 1,851,794. The stock has a market cap of $60.21 billion, a price-to-earnings ratio of 152.52, a price-to-earnings-growth ratio of 4.83 and a beta of 0.59. The stock has a 50-day simple moving average of $164.17 and a 200-day simple moving average of $153.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.61 and a quick ratio of 1.78. Digital Realty Trust has a 12 month low of $126.87 and a 12 month high of $193.88.

Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58). The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Digital Realty Trust had a return on equity of 2.24% and a net margin of 8.04%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. Analysts anticipate that Digital Realty Trust will post 6.71 earnings per share for the current year.

Hedge Funds Weigh In On Digital Realty Trust

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Digital Realty Trust during the 2nd quarter worth about $25,000. Gradient Investments LLC raised its position in shares of Digital Realty Trust by 75.2% in the second quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 76 shares during the period. American Capital Advisory LLC bought a new stake in shares of Digital Realty Trust during the 2nd quarter worth $27,000. Private Ocean LLC acquired a new position in Digital Realty Trust in the 2nd quarter valued at $27,000. Finally, Asset Dedication LLC bought a new position in Digital Realty Trust in the 2nd quarter worth $31,000. 99.71% of the stock is owned by institutional investors and hedge funds.

About Digital Realty Trust

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.