Brookstone Capital Management Buys 8,900 Shares of Digital Realty Trust, Inc. $DLR

Key Points

• Brookstone Capital Management increased its stake in Digital Realty Trust, acquiring an additional 8,900 shares, bringing its total holdings to 56,597 shares valued at approximately $9.87 million.
• Digital Realty Trust reported a Q2 earnings per share of $1.87, exceeding estimates, with a 10% year-over-year revenue growth, totaling $1.49 billion.
• The company announced a quarterly dividend of $1.22, representing an annual yield of 2.8%, despite a payout ratio exceeding 128%.

Brookstone Capital Management lifted its stake in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 18.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,597 shares of the real estate investment trust's stock after purchasing an additional 8,900 shares during the period. Brookstone Capital Management's holdings in Digital Realty Trust were worth $9,867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DLR. Greykasell Wealth Strategies Inc. bought a new position in Digital Realty Trust during the first quarter worth about $26,000. WPG Advisers LLC bought a new position in Digital Realty Trust during the first quarter worth about $30,000. 1 North Wealth Services LLC bought a new position in Digital Realty Trust during the first quarter worth about $31,000. Key Financial Inc lifted its holdings in Digital Realty Trust by 114.0% during the first quarter. Key Financial Inc now owns 259 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 138 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in Digital Realty Trust during the first quarter worth about $38,000. 99.71% of the stock is currently owned by institutional investors.

Digital Realty Trust Stock Performance

DLR opened at $172.57 on Thursday. The business's 50-day moving average price is $170.23 and its two-hundred day moving average price is $168.29. Digital Realty Trust, Inc. has a 1 year low of $129.95 and a 1 year high of $198.00. The company has a market capitalization of $58.85 billion, a price-to-earnings ratio of 45.29, a P/E/G ratio of 4.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.22 and a quick ratio of 2.22.

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

Digital Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.8%. Digital Realty Trust's payout ratio is currently 128.08%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Digital Realty Trust in a report on Wednesday, October 8th. Guggenheim assumed coverage on Digital Realty Trust in a report on Wednesday, July 9th. They set a "neutral" rating on the stock. Citigroup reiterated a "buy" rating on shares of Digital Realty Trust in a report on Tuesday, August 26th. Barclays lifted their price target on Digital Realty Trust from $140.00 to $141.00 and gave the company an "underweight" rating in a research note on Wednesday, August 20th. Finally, Raymond James Financial lifted their price target on Digital Realty Trust from $190.00 to $205.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Digital Realty Trust currently has an average rating of "Moderate Buy" and a consensus target price of $193.05.

Insider Activity

In related news, CEO Andrew Power sold 53,269 shares of Digital Realty Trust stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $175.16, for a total value of $9,330,598.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company's stock.

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.

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