Denali Advisors LLC Decreases Stake in Digital Realty Trust, Inc. (NYSE:DLR)

Denali Advisors LLC lowered its stake in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 52.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,707 shares of the real estate investment trust's stock after selling 7,478 shares during the quarter. Denali Advisors LLC's holdings in Digital Realty Trust were worth $961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Key Financial Inc increased its holdings in shares of Digital Realty Trust by 114.0% in the first quarter. Key Financial Inc now owns 259 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Digital Realty Trust in the 1st quarter valued at $38,000. Millstone Evans Group LLC bought a new stake in Digital Realty Trust in the 4th quarter valued at $43,000. Grove Bank & Trust lifted its position in Digital Realty Trust by 306.7% in the 1st quarter. Grove Bank & Trust now owns 305 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 230 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in Digital Realty Trust in the 1st quarter valued at $49,000. 99.71% of the stock is owned by institutional investors and hedge funds.

Digital Realty Trust Price Performance

DLR traded up $0.97 during trading hours on Tuesday, hitting $178.08. The company's stock had a trading volume of 764,238 shares, compared to its average volume of 2,015,610. The business's 50-day moving average price is $172.44 and its 200-day moving average price is $163.85. Digital Realty Trust, Inc. has a 12 month low of $129.95 and a 12 month high of $198.00. The stock has a market cap of $59.98 billion, a price-to-earnings ratio of 166.39, a P/E/G ratio of 2.68 and a beta of 0.95. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.81.

Digital Realty Trust (NYSE:DLR - Get Free Report) last issued its earnings results on Thursday, April 24th. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.04. Digital Realty Trust had a net margin of 7.65% and a return on equity of 2.07%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. The business's revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.88 annualized dividend and a dividend yield of 2.74%. Digital Realty Trust's dividend payout ratio (DPR) is currently 456.07%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DLR. New Street Research upgraded shares of Digital Realty Trust to a "hold" rating in a research note on Monday, April 28th. JMP Securities restated a "market outperform" rating and set a $220.00 target price on shares of Digital Realty Trust in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Digital Realty Trust from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Oppenheimer began coverage on shares of Digital Realty Trust in a research report on Wednesday, May 14th. They set an "outperform" rating and a $200.00 target price on the stock. Finally, Scotiabank cut their price target on shares of Digital Realty Trust from $208.00 to $206.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Digital Realty Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $187.16.

Insider Activity

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the company's stock in a transaction that occurred 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 sale, the director owned 6,522 shares in the company, valued at approximately $1,151,133. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

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.