Corebridge Financial Inc. Decreases Holdings in Digital Realty Trust, Inc. $DLR

Key Points

• Corebridge Financial Inc. reduced its holdings in Digital Realty Trust, Inc. by 2.0%, ending the quarter with 77,990 shares valued at approximately $11.17 million.
• Several institutional investors increased their stakes in Digital Realty Trust, with Thematics Asset Management raising its position by 9.6% during the same quarter.
• Digital Realty Trust announced a quarterly dividend of $1.22 per share, scheduled for payment on September 30th, resulting in an annualized dividend yield of 2.9%.

Corebridge Financial Inc. trimmed its holdings in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 77,990 shares of the real estate investment trust's stock after selling 1,557 shares during the quarter. Corebridge Financial Inc.'s holdings in Digital Realty Trust were worth $11,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thematics Asset Management raised its position in Digital Realty Trust by 9.6% in the 1st quarter. Thematics Asset Management now owns 168,794 shares of the real estate investment trust's stock worth $24,186,000 after purchasing an additional 14,794 shares during the period. Anson Funds Management LP bought a new position in shares of Digital Realty Trust during the first quarter valued at about $1,702,000. Freedom Investment Management Inc. increased its holdings in shares of Digital Realty Trust by 1.4% in the first quarter. Freedom Investment Management Inc. now owns 4,900 shares of the real estate investment trust's stock worth $702,000 after buying an additional 70 shares during the period. Quantitative Investment Management LLC bought a new stake in shares of Digital Realty Trust in the 1st quarter valued at about $3,057,000. Finally, Jump Financial LLC purchased a new stake in Digital Realty Trust during the 1st quarter valued at about $14,513,000. Institutional investors own 99.71% of the company's stock.

Insiders Place Their Bets

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $176.50, for a total value of $30,887.50. Following the completion of the transaction, the director owned 6,522 shares in the company, valued at approximately $1,151,133. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on DLR shares. Truist Financial set a $199.00 price target on Digital Realty Trust and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Bank of America started coverage on shares of Digital Realty Trust in a research note on Monday, May 19th. They issued a "buy" rating and a $210.00 target price on the stock. Raymond James Financial increased their price target on shares of Digital Realty Trust from $190.00 to $205.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Guggenheim initiated coverage on Digital Realty Trust in a report on Wednesday, July 9th. They set a "neutral" rating on the stock. Finally, Stifel Nicolaus upped their price target on Digital Realty Trust from $190.00 to $205.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Digital Realty Trust currently has a consensus rating of "Moderate Buy" and an average target price of $190.74.

Digital Realty Trust Trading Up 1.4%

Shares of DLR opened at $168.19 on Wednesday. Digital Realty Trust, Inc. has a 1-year low of $129.95 and a 1-year high of $198.00. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.82. The firm's 50-day moving average price is $172.23 and its 200-day moving average price is $163.56. The firm has a market capitalization of $57.36 billion, a price-to-earnings ratio of 44.14, a PEG ratio of 4.77 and a beta of 0.92.

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, topping analysts' consensus estimates of $1.74 by $0.13. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.44 billion. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. Digital Realty Trust'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. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. Sell-side analysts anticipate that Digital Realty Trust, Inc. will post 7.07 EPS for the current year.

Digital Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.22 per share. The ex-dividend date is Monday, September 15th. This represents a $4.88 annualized dividend and a dividend yield of 2.9%. Digital Realty Trust's payout ratio is currently 128.08%.

Digital Realty Trust Company 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.

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