Scotiabank Increases Digital Realty Trust (NYSE:DLR) Price Target to $178.00

Digital Realty Trust (NYSE:DLR) had its price target boosted by stock analysts at Scotiabank from $157.00 to $178.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential downside of 1.66% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Mizuho assumed coverage on Digital Realty Trust in a research report on Thursday, July 11th. They issued an “outperform” rating and a $170.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Digital Realty Trust in a report on Monday, July 1st. They issued a “buy” rating and a $175.00 target price for the company. Argus lowered shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of Digital Realty Trust in a research report on Friday. Finally, Wells Fargo & Company upped their target price on shares of Digital Realty Trust from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $165.21.

Digital Realty Trust Stock Performance

Shares of DLR stock opened at $181.01 on Friday. The firm has a market capitalization of $56.55 billion, a PE ratio of 50.28, a P/E/G ratio of 5.08 and a beta of 0.60. The company has a 50 day moving average price of $157.70 and a 200-day moving average price of $150.67. Digital Realty Trust has a 52 week low of $116.73 and a 52 week high of $193.88. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81.

Digital Realty Trust (NYSE:DLR) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. Digital Realty Trust’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.68 earnings per share. As a group, equities research analysts expect that Digital Realty Trust will post 6.65 earnings per share for the current year.

Insider Activity

In related news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.26, for a total transaction of $90,156.00. Following the transaction, the director now directly owns 9,055 shares in the company, valued at approximately $1,360,604.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Digital Realty Trust

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Digital Realty Trust in the second quarter valued at approximately $25,000. Gradient Investments LLC lifted its holdings in shares of Digital Realty Trust by 75.2% in the 2nd quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 76 shares during the period. American Capital Advisory LLC bought a new position in shares of Digital Realty Trust during the 2nd quarter worth $27,000. Private Ocean LLC purchased a new position in shares of Digital Realty Trust during the second quarter valued at $27,000. Finally, Asset Dedication LLC bought a new stake in shares of Digital Realty Trust in the second quarter valued at about $31,000. Institutional investors own 99.71% of the company’s stock.

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.