State Treasurer State of Michigan boosted its position in shares of DIGITAL RLTY TR/SH (NYSE:DLR) by 1.4% in the first quarter, Holdings Channel reports. The institutional investor owned 59,860 shares of the real estate investment trust’s stock after acquiring an additional 800 shares during the period. State Treasurer State of Michigan’s holdings in DIGITAL RLTY TR/SH were worth $7,123,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in DLR. Parnassus Investments CA purchased a new stake in DIGITAL RLTY TR/SH during the fourth quarter valued at approximately $327,400,000. Canada Pension Plan Investment Board raised its position in DIGITAL RLTY TR/SH by 575.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,664,148 shares of the real estate investment trust’s stock valued at $283,842,000 after purchasing an additional 2,269,665 shares during the period. Norges Bank purchased a new stake in DIGITAL RLTY TR/SH during the fourth quarter valued at approximately $218,327,000. FMR LLC raised its position in DIGITAL RLTY TR/SH by 21.8% during the fourth quarter. FMR LLC now owns 4,000,378 shares of the real estate investment trust’s stock valued at $426,240,000 after purchasing an additional 717,113 shares during the period. Finally, Investec Asset Management LTD raised its position in DIGITAL RLTY TR/SH by 3,349.5% during the fourth quarter. Investec Asset Management LTD now owns 334,600 shares of the real estate investment trust’s stock valued at $35,652,000 after purchasing an additional 324,900 shares during the period. 99.17% of the stock is owned by institutional investors.
Shares of NYSE DLR opened at $116.89 on Thursday. The company has a current ratio of 0.05, a quick ratio of 0.21 and a debt-to-equity ratio of 0.18. DIGITAL RLTY TR/SH has a fifty-two week low of $100.05 and a fifty-two week high of $125.10. The company has a market capitalization of $24.31 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.52 and a beta of 0.46.
DIGITAL RLTY TR/SH (NYSE:DLR) last released its quarterly earnings data on Thursday, April 25th. The real estate investment trust reported $1.73 EPS for the quarter, topping the consensus estimate of $1.65 by $0.08. The company had revenue of $814.50 million for the quarter, compared to the consensus estimate of $800.13 million. DIGITAL RLTY TR/SH had a return on equity of 3.27% and a net margin of 10.95%. DIGITAL RLTY TR/SH’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. On average, equities research analysts anticipate that DIGITAL RLTY TR/SH will post 6.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.08 per share. The ex-dividend date is Thursday, June 13th. This represents a $4.32 annualized dividend and a yield of 3.70%. DIGITAL RLTY TR/SH’s payout ratio is currently 65.45%.
DLR has been the topic of a number of recent research reports. Stifel Nicolaus set a $130.00 price objective on DIGITAL RLTY TR/SH and gave the company a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research downgraded DIGITAL RLTY TR/SH from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Jefferies Financial Group downgraded DIGITAL RLTY TR/SH from a “buy” rating to a “hold” rating and decreased their price objective for the company from $144.00 to $125.00 in a research report on Tuesday, April 23rd. Barclays restated a “buy” rating and set a $143.00 price objective on shares of DIGITAL RLTY TR/SH in a research report on Tuesday, April 16th. Finally, ValuEngine downgraded DIGITAL RLTY TR/SH from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $126.64.
In other DIGITAL RLTY TR/SH news, SVP Joshua A. Mills sold 10,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $119.21, for a total transaction of $1,192,100.00. Following the sale, the senior vice president now owns 14,166 shares of the company’s stock, valued at approximately $1,688,728.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Kennedy sold 400 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.25, for a total value of $46,900.00. Following the sale, the director now directly owns 400 shares in the company, valued at approximately $46,900. The disclosure for this sale can be found here. Insiders have sold a total of 27,633 shares of company stock worth $3,300,928 over the last 90 days. 0.49% of the stock is currently owned by company insiders.
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.
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