Meridian Wealth Management LLC Acquires Shares of 22,133 Digital Realty Trust, Inc. (NYSE:DLR)

Meridian Wealth Management LLC acquired a new stake in Digital Realty Trust, Inc. (NYSE:DLR) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 22,133 shares of the real estate investment trust’s stock, valued at approximately $3,582,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its stake in shares of Digital Realty Trust by 7.9% in the 1st quarter. Lazard Asset Management LLC now owns 4,108 shares of the real estate investment trust’s stock valued at $591,000 after purchasing an additional 300 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Digital Realty Trust in the 1st quarter valued at about $1,455,000. Kodai Capital Management LP boosted its stake in shares of Digital Realty Trust by 14.5% in the 1st quarter. Kodai Capital Management LP now owns 502,837 shares of the real estate investment trust’s stock valued at $72,429,000 after purchasing an additional 63,787 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Digital Realty Trust by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 95,626 shares of the real estate investment trust’s stock valued at $13,766,000 after purchasing an additional 2,190 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Digital Realty Trust by 3.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,660 shares of the real estate investment trust’s stock valued at $527,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

Analyst Upgrades and Downgrades

DLR has been the topic of several recent research reports. Scotiabank raised their target price on shares of Digital Realty Trust from $157.00 to $178.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. TD Cowen lifted their price objective on shares of Digital Realty Trust from $120.00 to $128.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Barclays lifted their price objective on shares of Digital Realty Trust from $135.00 to $142.00 and gave the stock an “underweight” rating in a research note on Monday, November 18th. Hsbc Global Res raised shares of Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Digital Realty Trust from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Two equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $170.37.

Digital Realty Trust Price Performance

NYSE DLR opened at $189.86 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.81. Digital Realty Trust, Inc. has a 12-month low of $130.00 and a 12-month high of $193.88. The company has a market capitalization of $62.98 billion, a PE ratio of 159.55, a price-to-earnings-growth ratio of 4.97 and a beta of 0.59. The firm’s 50 day moving average is $169.56 and its 200-day moving average is $156.35.

Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings data 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). Digital Realty Trust had a net margin of 8.04% and a return on equity of 2.24%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $1.62 earnings per share. Digital Realty Trust’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Digital Realty Trust, Inc. will post 6.71 earnings per share for the current fiscal year.

Digital Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 13th will be issued a $1.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.57%. Digital Realty Trust’s dividend payout ratio (DPR) is presently 410.08%.

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.