Digital Realty Trust, Inc. (NYSE:DLR) Position Increased by Synovus Financial Corp

Synovus Financial Corp raised its position in shares of Digital Realty Trust, Inc. (NYSE:DLR) by 6.9% in the third quarter, HoldingsChannel reports. The firm owned 6,530 shares of the real estate investment trust’s stock after acquiring an additional 421 shares during the period. Synovus Financial Corp’s holdings in Digital Realty Trust were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cumberland Partners Ltd lifted its stake in shares of Digital Realty Trust by 207.3% in the 3rd quarter. Cumberland Partners Ltd now owns 46,595 shares of the real estate investment trust’s stock worth $7,540,000 after acquiring an additional 31,430 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Digital Realty Trust by 6.4% in the third quarter. Rockefeller Capital Management L.P. now owns 381,001 shares of the real estate investment trust’s stock worth $61,643,000 after acquiring an additional 23,028 shares in the last quarter. Choreo LLC raised its stake in Digital Realty Trust by 86.8% during the 2nd quarter. Choreo LLC now owns 8,782 shares of the real estate investment trust’s stock valued at $1,336,000 after purchasing an additional 4,081 shares during the period. Sei Investments Co. raised its position in Digital Realty Trust by 11.2% during the second quarter. Sei Investments Co. now owns 1,465,876 shares of the real estate investment trust’s stock valued at $222,886,000 after buying an additional 147,689 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Digital Realty Trust by 3,056.0% in the third quarter. Prestige Wealth Management Group LLC now owns 4,229 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 4,095 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Digital Realty Trust Stock Up 0.2 %

Shares of NYSE:DLR opened at $185.46 on Tuesday. Digital Realty Trust, Inc. has a one year low of $130.00 and a one year high of $198.00. The stock has a market cap of $61.52 billion, a price-to-earnings ratio of 155.85, a P/E/G ratio of 4.97 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.61 and a quick ratio of 1.61. The company has a 50 day moving average of $179.44 and a 200-day moving average of $161.88.

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

Digital Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 13th will be given a $1.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.88 annualized dividend and a dividend yield of 2.63%. Digital Realty Trust’s dividend payout ratio is presently 410.08%.

Insider Activity

In related news, CFO Matt Mercier sold 2,518 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $187.40, for a total transaction of $471,873.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Digital Realty Trust from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price objective on shares of Digital Realty Trust from $177.00 to $207.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. TD Cowen lifted their price target on Digital Realty Trust from $120.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group boosted their price objective on shares of Digital Realty Trust from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Raymond James upped their target price on Digital Realty Trust from $170.00 to $190.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.68.

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.