Red Cedar Investment Management LLC Buys New Position in Digital Realty Trust, Inc. (NYSE:DLR)

Red Cedar Investment Management LLC bought a new position in Digital Realty Trust, Inc. (NYSE:DLR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,529 shares of the real estate investment trust’s stock, valued at approximately $1,218,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Digital Realty Trust by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 48,503,593 shares of the real estate investment trust’s stock worth $6,986,458,000 after purchasing an additional 951,567 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Digital Realty Trust by 3.1% in the second quarter. Canada Pension Plan Investment Board now owns 4,826,432 shares of the real estate investment trust’s stock valued at $733,859,000 after buying an additional 146,183 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Digital Realty Trust by 2.8% during the second quarter. Legal & General Group Plc now owns 4,730,168 shares of the real estate investment trust’s stock valued at $719,222,000 after buying an additional 129,799 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Digital Realty Trust by 16.8% during the second quarter. Daiwa Securities Group Inc. now owns 4,725,971 shares of the real estate investment trust’s stock worth $718,584,000 after acquiring an additional 678,165 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Digital Realty Trust by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,541,327 shares of the real estate investment trust’s stock worth $690,498,000 after acquiring an additional 228,585 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Digital Realty Trust Stock Performance

Shares of DLR stock traded up $0.55 on Monday, hitting $176.55. 350,435 shares of the stock were exchanged, compared to its average volume of 1,830,452. Digital Realty Trust, Inc. has a one year low of $126.22 and a one year high of $193.88. The firm’s 50 day moving average is $160.74 and its two-hundred day moving average is $152.19. The firm has a market capitalization of $57.80 billion, a PE ratio of 147.48, a P/E/G ratio of 5.73 and a beta of 0.59. The company has a current ratio of 1.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81.

Digital Realty Trust (NYSE:DLR) last released 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 the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Digital Realty Trust, Inc. will post 6.7 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, September 13th. Digital Realty Trust’s dividend payout ratio (DPR) is presently 410.08%.

Analysts Set New Price Targets

Several analysts have recently commented on DLR shares. Barclays increased their price objective on Digital Realty Trust from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 10th. Stifel Nicolaus reissued a “buy” rating and issued a $195.00 price target (up from $185.00) on shares of Digital Realty Trust in a research report on Friday, October 25th. Hsbc Global Res raised shares of Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a report on Friday, October 4th. HSBC upgraded shares of Digital Realty Trust from a “reduce” rating to a “hold” rating and increased their target price for the company from $124.00 to $160.00 in a report on Friday, October 4th. Finally, Argus cut shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Digital Realty Trust has an average 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.