Principal Financial Group Inc. Reduces Holdings in Digital Realty Trust, Inc. (NYSE:DLR)

Principal Financial Group Inc. reduced its holdings in shares of Digital Realty Trust, Inc. (NYSE:DLR) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,870,915 shares of the real estate investment trust’s stock after selling 122,351 shares during the quarter. Principal Financial Group Inc. owned approximately 1.18% of Digital Realty Trust worth $626,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Clear Creek Financial Management LLC grew its holdings in shares of Digital Realty Trust by 1.6% during the third quarter. Clear Creek Financial Management LLC now owns 3,836 shares of the real estate investment trust’s stock worth $621,000 after buying an additional 59 shares in the last quarter. Trueblood Wealth Management LLC grew its holdings in shares of Digital Realty Trust by 3.1% during the third quarter. Trueblood Wealth Management LLC now owns 2,061 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 61 shares in the last quarter. Gilman Hill Asset Management LLC grew its holdings in Digital Realty Trust by 1.1% in the second quarter. Gilman Hill Asset Management LLC now owns 6,179 shares of the real estate investment trust’s stock valued at $940,000 after purchasing an additional 65 shares during the period. GHP Investment Advisors Inc. grew its holdings in Digital Realty Trust by 14.3% in the third quarter. GHP Investment Advisors Inc. now owns 527 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 66 shares during the period. Finally, Telos Capital Management Inc. grew its holdings in Digital Realty Trust by 0.8% in the third quarter. Telos Capital Management Inc. now owns 8,569 shares of the real estate investment trust’s stock valued at $1,387,000 after purchasing an additional 71 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Digital Realty Trust Trading Down 4.1 %

DLR opened at $173.62 on Thursday. The stock has a market capitalization of $57.59 billion, a PE ratio of 145.90, a P/E/G ratio of 5.70 and a beta of 0.59. The firm’s fifty day moving average price is $162.36 and its 200 day moving average price is $152.93. 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, Inc. has a 12-month low of $126.22 and a 12-month high of $193.88.

Digital Realty Trust (NYSE:DLR) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm earned $1.62 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts expect that Digital Realty Trust, Inc. will post 6.7 EPS for the current fiscal year.

Digital Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 13th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.88 annualized dividend and a yield of 2.81%. Digital Realty Trust’s payout ratio is 410.08%.

Wall Street Analysts Forecast Growth

DLR has been the subject of a number of recent analyst reports. Raymond James boosted their target price on shares of Digital Realty Trust from $170.00 to $190.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. Barclays boosted their target price on shares of Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Stifel Nicolaus restated a “buy” rating and issued a $195.00 target price (up from $185.00) on shares of Digital Realty Trust in a report on Friday, October 25th. 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 research report on Tuesday, August 13th. Finally, TD Cowen lifted their price target on shares of Digital Realty Trust from $120.00 to $128.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $167.68.

Digital Realty Trust 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.