CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 3,000 Shares of Digital Realty Trust, Inc. $DLR

Key Points

• CUSHING ASSET MANAGEMENT LP raised its stake in Digital Realty Trust by 21.4%, now owning 17,000 shares valued at about $2.96 million.
• CEO Andrew Power sold 53,269 shares of Digital Realty on September 15th, totaling approximately $9.33 million from this transaction.
• Analysts have boosted Digital Realty Trust's price targets, with estimates ranging up to $205, indicating a consensus rating of "Moderate Buy".

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 21.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,000 shares of the real estate investment trust's stock after buying an additional 3,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Digital Realty Trust were worth $2,964,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Nvwm LLC increased its position in Digital Realty Trust by 1.9% during the first quarter. Nvwm LLC now owns 3,287 shares of the real estate investment trust's stock worth $471,000 after buying an additional 60 shares during the last quarter. Decatur Capital Management Inc. boosted its holdings in shares of Digital Realty Trust by 0.4% during the first quarter. Decatur Capital Management Inc. now owns 16,312 shares of the real estate investment trust's stock worth $2,337,000 after acquiring an additional 61 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Digital Realty Trust by 1.3% during the first quarter. EP Wealth Advisors LLC now owns 4,766 shares of the real estate investment trust's stock worth $683,000 after acquiring an additional 63 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Digital Realty Trust by 6.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,056 shares of the real estate investment trust's stock worth $151,000 after acquiring an additional 65 shares during the period. Finally, Hutchens & Kramer Investment Management Group LLC boosted its holdings in shares of Digital Realty Trust by 3.2% during the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 2,145 shares of the real estate investment trust's stock worth $307,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 99.71% of the company's stock.

Analysts Set New Price Targets

DLR has been the subject of several recent research reports. Mizuho boosted their price target on Digital Realty Trust from $177.00 to $191.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. 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 note on Friday, July 25th. Stifel Nicolaus upped their target price on Digital Realty Trust from $190.00 to $205.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Truist Financial set a $199.00 target price on Digital Realty Trust and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Barclays upped their target price on Digital Realty Trust from $140.00 to $141.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Digital Realty Trust presently has an average rating of "Moderate Buy" and an average target price of $190.74.

Insiders Place Their Bets

In other Digital Realty Trust news, CEO Andrew Power sold 53,269 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $175.16, for a total value of $9,330,598.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.17% of the company's stock.

Digital Realty Trust Price Performance

NYSE:DLR traded up $2.59 during trading hours on Monday, hitting $174.67. The stock had a trading volume of 1,837,422 shares, compared to its average volume of 1,664,270. The company has a 50 day simple moving average of $170.79 and a two-hundred day simple moving average of $164.66. 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, Inc. has a one year low of $129.95 and a one year high of $198.00. The firm has a market capitalization of $59.57 billion, a price-to-earnings ratio of 45.84, a P/E/G ratio of 4.95 and a beta of 0.96.

Digital Realty Trust (NYSE:DLR - Get Free Report) last posted its quarterly earnings data 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%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 EPS. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. Research analysts forecast that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 15th. Digital Realty Trust's dividend payout ratio is 128.08%.

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.