Malaga Cove Capital LLC Raises Stock Position in Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• Malaga Cove Capital LLC has increased its stake in Digital Realty Trust by 166.9%, owning 7,446 shares valued at approximately $1.067 million.
• Digital Realty Trust reported a quarterly earnings per share of $1.87, exceeding analysts' expectations of $1.74, with a revenue increase of 10% year-over-year.
• Digital Realty Trust recently announced a quarterly dividend of $1.22, resulting in an annualized dividend yield of 2.8%.

Malaga Cove Capital LLC boosted its stake in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 166.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,446 shares of the real estate investment trust's stock after purchasing an additional 4,656 shares during the period. Malaga Cove Capital LLC's holdings in Digital Realty Trust were worth $1,067,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Key Financial Inc grew its stake in shares of 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 purchasing an additional 138 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Digital Realty Trust during the first quarter worth $38,000. Grove Bank & Trust grew its stake in shares of Digital Realty Trust by 306.7% during the first quarter. Grove Bank & Trust now owns 305 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 230 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Digital Realty Trust during the first quarter worth $49,000. Finally, Adirondack Trust Co. grew its stake in shares of Digital Realty Trust by 40.8% during the first quarter. Adirondack Trust Co. now owns 352 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Insider Buying and Selling

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $176.50, for a total value of $30,887.50. Following the completion of the transaction, the director directly owned 6,522 shares of the company's stock, valued at approximately $1,151,133. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Digital Realty Trust Stock Performance

NYSE:DLR traded down $4.39 during mid-day trading on Friday, reaching $172.05. The stock had a trading volume of 1,662,113 shares, compared to its average volume of 1,519,500. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.92 and a current ratio of 2.22. The firm has a market capitalization of $57.94 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 3.20 and a beta of 0.92. Digital Realty Trust, Inc. has a twelve month low of $129.95 and a twelve month high of $198.00. The business has a 50 day simple moving average of $174.33 and a 200 day simple moving average of $163.83.

Digital Realty Trust (NYSE:DLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.13. The firm 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 quarter last year, the firm earned $1.65 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $1.22 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.88 dividend on an annualized basis and a yield of 2.8%. Digital Realty Trust's dividend payout ratio (DPR) is presently 128.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DLR shares. Barclays boosted their target price on shares of Digital Realty Trust from $139.00 to $140.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. Raymond James Financial boosted their target price on shares of Digital Realty Trust from $190.00 to $205.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. JMP Securities reiterated a "market outperform" rating and set a $220.00 target price on shares of Digital Realty Trust in a research note on Monday, April 28th. Bank of America assumed coverage on shares of Digital Realty Trust in a research note on Monday, May 19th. They set a "buy" rating and a $210.00 target price for the company. Finally, New Street Research upgraded shares of Digital Realty Trust to a "hold" rating in a research note 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 stock. According to MarketBeat, Digital Realty Trust has a consensus rating of "Moderate Buy" and a consensus target price of $190.68.

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.