Bank of Nova Scotia Sells 6,928 Shares of Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• Bank of Nova Scotia reduced its shareholding in Digital Realty Trust by 16.0%, selling 6,928 shares and leaving them with a total of 36,404 shares valued at approximately $5.2 million.
• Recent analyst reports show a range of ratings for Digital Realty Trust, with one analysis giving a consensus rating of "Moderate Buy" and a price target of $190.68.
• The company reported a quarterly EPS of $1.87, exceeding estimates, while also announcing a dividend of $1.22 per share, which represents a yield of 2.8%.

Bank of Nova Scotia lowered its position in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 16.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,404 shares of the real estate investment trust's stock after selling 6,928 shares during the quarter. Bank of Nova Scotia's holdings in Digital Realty Trust were worth $5,216,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of Digital Realty Trust by 57.5% during the fourth quarter. Northern Trust Corp now owns 5,080,550 shares of the real estate investment trust's stock worth $900,934,000 after purchasing an additional 1,854,748 shares during the period. Deutsche Bank AG increased its position in Digital Realty Trust by 66.6% during the 4th quarter. Deutsche Bank AG now owns 3,081,821 shares of the real estate investment trust's stock worth $546,499,000 after purchasing an additional 1,232,043 shares during the period. GAMMA Investing LLC grew its holdings in Digital Realty Trust by 13,842.2% during the first quarter. GAMMA Investing LLC now owns 1,131,131 shares of the real estate investment trust's stock worth $162,080,000 after acquiring an additional 1,123,018 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Digital Realty Trust during the 4th quarter worth $182,126,000. Finally, Pictet Asset Management Holding SA grew its position in Digital Realty Trust by 41.5% during the first quarter. Pictet Asset Management Holding SA now owns 3,129,819 shares of the real estate investment trust's stock worth $448,422,000 after buying an additional 918,549 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DLR has been the subject of several research reports. Guggenheim started coverage on Digital Realty Trust in a research report on Wednesday, July 9th. They set a "neutral" rating for the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $193.00 target price (up from $190.00) on shares of Digital Realty Trust in a research report on Friday, April 25th. Wells Fargo & Company upped their target price on Digital Realty Trust from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Bank of America initiated coverage on shares of Digital Realty Trust in a research note on Monday, May 19th. They set a "buy" rating and a $210.00 price objective on the stock. Finally, JMP Securities restated a "market outperform" rating and issued a $220.00 target price on shares of Digital Realty Trust in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Digital Realty Trust currently has an average rating of "Moderate Buy" and a consensus price target of $190.68.

Digital Realty Trust Stock Up 1.0%

Shares of NYSE DLR traded up $1.66 during midday trading on Thursday, reaching $171.15. The company's stock had a trading volume of 1,164,453 shares, compared to its average volume of 1,526,305. Digital Realty Trust, Inc. has a fifty-two week low of $129.95 and a fifty-two week high of $198.00. The company has a current ratio of 2.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.82. The stock has a 50 day simple moving average of $174.44 and a 200-day simple moving average of $163.89. The stock has a market capitalization of $58.37 billion, a price-to-earnings ratio of 44.92, a PEG ratio of 3.15 and a beta of 0.92.

Digital Realty Trust (NYSE:DLR - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.13. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. The company's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 earnings per share. Equities research analysts predict that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.9%. Digital Realty Trust's dividend payout ratio is 128.08%.

Insider Activity at Digital Realty Trust

In related news, Director Mark R. Patterson sold 175 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $1,151,133. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company's stock.

Digital Realty Trust Profile

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.