DIGITAL RLTY TR/SH’s (DLR) Buy Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of DIGITAL RLTY TR/SH (NYSE:DLR) in a research report released on Monday. Royal Bank of Canada currently has a $131.00 price target on the real estate investment trust’s stock.

Several other research firms have also recently commented on DLR. Zacks Investment Research raised DIGITAL RLTY TR/SH from a hold rating to a buy rating and set a $130.00 price target for the company in a report on Monday, July 16th. Guggenheim reissued a hold rating and issued a $125.00 price target on shares of DIGITAL RLTY TR/SH in a report on Friday, July 20th. Citigroup raised their price target on DIGITAL RLTY TR/SH from $119.00 to $131.00 and gave the company a buy rating in a report on Monday, July 30th. They noted that the move was a valuation call. Wells Fargo & Co reissued a buy rating on shares of DIGITAL RLTY TR/SH in a report on Friday, July 27th. Finally, Stifel Nicolaus raised their price target on DIGITAL RLTY TR/SH from $128.00 to $130.00 and gave the company a buy rating in a report on Friday, July 27th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $127.17.

DLR opened at $122.37 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $24.93 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.66 and a beta of 0.15. DIGITAL RLTY TR/SH has a 12 month low of $96.56 and a 12 month high of $127.23.

DIGITAL RLTY TR/SH (NYSE:DLR) last posted its quarterly earnings results on Thursday, July 26th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $1.61 by ($1.29). The business had revenue of $754.91 million during the quarter, compared to analyst estimates of $759.30 million. DIGITAL RLTY TR/SH had a net margin of 9.79% and a return on equity of 3.02%. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 earnings per share. research analysts forecast that DIGITAL RLTY TR/SH will post 6.6 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, September 13th. DIGITAL RLTY TR/SH’s payout ratio is currently 65.80%.

In related news, SVP Joshua A. Mills sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $112.50, for a total value of $281,250.00. Following the completion of the transaction, the senior vice president now directly owns 6,666 shares of the company’s stock, valued at approximately $749,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward F. Sham sold 10,435 shares of the firm’s stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $115.00, for a total value of $1,200,025.00. Following the completion of the transaction, the insider now directly owns 6,207 shares of the company’s stock, valued at $713,805. The disclosure for this sale can be found here. Insiders sold a total of 20,435 shares of company stock valued at $2,318,775 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP increased its stake in DIGITAL RLTY TR/SH by 18.3% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 25,900 shares of the real estate investment trust’s stock valued at $2,728,000 after purchasing an additional 4,000 shares in the last quarter. Spinnaker Trust purchased a new position in DIGITAL RLTY TR/SH during the first quarter worth $1,640,000. Oppenheimer Asset Management Inc. increased its position in DIGITAL RLTY TR/SH by 3.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,876 shares of the real estate investment trust’s stock worth $2,095,000 after buying an additional 618 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in DIGITAL RLTY TR/SH by 8.7% during the first quarter. Duff & Phelps Investment Management Co. now owns 975,494 shares of the real estate investment trust’s stock worth $102,798,000 after buying an additional 77,850 shares in the last quarter. Finally, Honeywell International Inc. increased its position in DIGITAL RLTY TR/SH by 13.3% during the first quarter. Honeywell International Inc. now owns 70,540 shares of the real estate investment trust’s stock worth $7,434,000 after buying an additional 8,260 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

DIGITAL RLTY TR/SH Company Profile

Digital Realty supports the data center, colocation and interconnection strategies of more than 2,300 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products.

Recommended Story: Average Daily Trade Volume Explained

Analyst Recommendations for DIGITAL RLTY TR/SH (NYSE:DLR)

Receive News & Ratings for DIGITAL RLTY TR/SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DIGITAL RLTY TR/SH and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply