American Assets Investment Management LLC Buys 52,588 Shares of Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• American Assets Investment Management LLC significantly increased its stake in Digital Realty Trust by 1,340.5%, owning 56,511 shares and making it their 12th largest holding valued at approximately $8.1 million.
• Digital Realty Trust's stock has received several analyst upgrades, with target prices ranging from $193.00 to $220.00, supporting an overall consensus of a "Moderate Buy."
• The company recently reported Q2 earnings per share of $1.87, beating estimates and showing a year-over-year revenue increase of 10%, alongside a declared quarterly dividend of $1.22 per share.

American Assets Investment Management LLC grew its position in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 1,340.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,511 shares of the real estate investment trust's stock after purchasing an additional 52,588 shares during the period. Digital Realty Trust makes up about 3.4% of American Assets Investment Management LLC's investment portfolio, making the stock its 12th largest position. American Assets Investment Management LLC's holdings in Digital Realty Trust were worth $8,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Digital Realty Trust by 18.4% in the fourth quarter. Invesco Ltd. now owns 3,905,883 shares of the real estate investment trust's stock worth $692,630,000 after buying an additional 607,132 shares during the last quarter. Pacific Heights Asset Management LLC increased its stake in shares of Digital Realty Trust by 33.3% in the first quarter. Pacific Heights Asset Management LLC now owns 100,000 shares of the real estate investment trust's stock worth $14,329,000 after buying an additional 25,000 shares during the last quarter. Vectors Research Management LLC increased its stake in shares of Digital Realty Trust by 15.8% in the first quarter. Vectors Research Management LLC now owns 21,507 shares of the real estate investment trust's stock worth $3,082,000 after buying an additional 2,930 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Digital Realty Trust by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 643,424 shares of the real estate investment trust's stock worth $92,196,000 after buying an additional 21,598 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Digital Realty Trust by 25.2% in the first quarter. Brown Advisory Inc. now owns 8,174 shares of the real estate investment trust's stock worth $1,171,000 after buying an additional 1,644 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DLR. Stifel Nicolaus boosted their target price on shares of Digital Realty Trust from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of Digital Realty Trust from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Wall Street Zen raised shares of Digital Realty Trust from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Mizuho lifted their price target on shares of Digital Realty Trust from $177.00 to $191.00 and gave the company an "outperform" rating in a report on Tuesday, June 17th. Finally, Bank of America started coverage on shares of Digital Realty Trust in a report on Monday, May 19th. They issued a "buy" rating and a $210.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $190.68.

Insider Buying and Selling

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $176.50, for a total transaction of $30,887.50. Following the sale, the director owned 6,522 shares in the company, valued at approximately $1,151,133. The trade was a 2.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

Digital Realty Trust Price Performance

Digital Realty Trust stock traded down $4.39 during midday trading on Friday, hitting $172.05. The company's stock had a trading volume of 1,662,113 shares, compared to its average volume of 1,436,393. The company has a quick ratio of 1.92, a current ratio of 2.22 and a debt-to-equity ratio of 0.82. The stock's 50-day moving average price is $174.33 and its 200-day moving average price is $163.95. Digital Realty Trust, Inc. has a 12 month low of $129.95 and a 12 month high of $198.00. The company has a market capitalization of $57.94 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 3.20 and a beta of 0.92.

Digital Realty Trust (NYSE:DLR - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $1.87 EPS for the quarter, topping the consensus estimate of $1.74 by $0.13. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the previous year, the business earned $1.65 earnings per share. Digital Realty Trust's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts anticipate that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $1.22 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.88 annualized dividend and a yield of 2.8%. Digital Realty Trust's payout ratio is 128.08%.

About Digital Realty Trust

Digital Realty Trust, Inc operates as a real estate investment trust, which engages in the provision of data center, colocation and interconnection solutions. It serves the following industries: artificial intelligence (AI), networks, cloud, digital media, mobile, financial services, healthcare, and gaming.