Grassi Investment Management Reduces Stock Position in Digital Realty Trust, Inc. (NYSE:DLR)

Grassi Investment Management cut its stake in Digital Realty Trust, Inc. (NYSE:DLR) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,290 shares of the real estate investment trust’s stock after selling 1,345 shares during the quarter. Grassi Investment Management’s holdings in Digital Realty Trust were worth $9,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Digital Realty Trust in the second quarter worth $25,000. Adirondack Trust Co. increased its stake in Digital Realty Trust by 68.6% in the 3rd quarter. Adirondack Trust Co. now owns 199 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Digital Realty Trust by 480.6% during the 4th quarter. Versant Capital Management Inc now owns 209 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 173 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Digital Realty Trust during the third quarter worth about $38,000. Finally, Dunhill Financial LLC raised its stake in Digital Realty Trust by 84.4% in the third quarter. Dunhill Financial LLC now owns 271 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 124 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Digital Realty Trust news, CFO Matt Mercier sold 2,518 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

DLR has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price target 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. Wells Fargo & Company increased their target price on Digital Realty Trust from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Stifel Nicolaus lifted their price target on Digital Realty Trust from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Truist Financial raised their price objective on Digital Realty Trust from $168.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Evercore ISI upped their target price on Digital Realty Trust from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

Digital Realty Trust Trading Down 0.9 %

Shares of DLR traded down $1.50 during mid-day trading on Monday, hitting $171.84. 739,974 shares of the company’s stock traded hands, compared to its average volume of 1,768,277. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $57.00 billion, a P/E ratio of 144.40, a PEG ratio of 4.91 and a beta of 0.62. The business’s 50-day moving average price is $183.46 and its 200-day moving average price is $166.04. Digital Realty Trust, Inc. has a 1 year low of $131.42 and a 1 year high of $198.00.

Digital Realty Trust (NYSE:DLR) last issued 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 company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Digital Realty Trust, Inc. will post 6.71 EPS for the current fiscal year.

Digital Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 13th will be given 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 2.84%. Digital Realty Trust’s payout ratio is 410.08%.

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.