AGF Management Ltd. Cuts Stock Position in Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• AGF Management Ltd. reduced its stake in Digital Realty Trust by 6.3% in the first quarter, holding 56,414 shares valued at approximately $8.08 million.
• Digital Realty Trust reported earnings of $1.87 per share for the last quarter, exceeding analyst expectations of $1.74 and indicating a revenue increase to $1.49 billion year-over-year.
• The company announced a quarterly dividend of $1.22 per share, with a dividend yield of 2.9% and a payout ratio of 128.08%.

AGF Management Ltd. cut its position in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,414 shares of the real estate investment trust's stock after selling 3,803 shares during the quarter. AGF Management Ltd.'s holdings in Digital Realty Trust were worth $8,084,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Nvwm LLC raised its position in shares of 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 acquiring an additional 60 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC grew its stake in 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 purchasing an additional 66 shares during the period. Probity Advisors Inc. increased its holdings in Digital Realty Trust by 1.5% in the first quarter. Probity Advisors Inc. now owns 4,794 shares of the real estate investment trust's stock worth $687,000 after purchasing an additional 70 shares in the last quarter. Robbins Farley lifted its stake in Digital Realty Trust by 0.7% in the first quarter. Robbins Farley now owns 10,956 shares of the real estate investment trust's stock valued at $1,570,000 after buying an additional 71 shares during the period. Finally, Colonial Trust Co SC lifted its stake in Digital Realty Trust by 33.8% in the fourth quarter. Colonial Trust Co SC now owns 285 shares of the real estate investment trust's stock valued at $51,000 after buying an additional 72 shares during the period. 99.71% of the stock is currently owned by institutional investors.

Digital Realty Trust Stock Down 1.4%

Shares of NYSE:DLR traded down $2.41 during mid-day trading on Thursday, hitting $166.17. 1,313,018 shares of the company traded hands, compared to its average volume of 2,101,110. The stock has a market cap of $56.67 billion, a P/E ratio of 43.61, a P/E/G ratio of 4.87 and a beta of 0.92. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.82. Digital Realty Trust, Inc. has a 12-month low of $129.95 and a 12-month high of $198.00. The stock has a 50-day moving average price of $174.06 and a two-hundred day moving average price of $163.47.

Digital Realty Trust (NYSE:DLR - Get Free Report) last announced its 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 company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.44 billion. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%. Digital Realty Trust's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. On average, equities research analysts forecast that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current year.

Digital Realty Trust Announces Dividend

The business also recently announced 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 of this dividend 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 presently 128.08%.

Insider Activity

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the business's 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 transaction, the director owned 6,522 shares of the company's stock, valued at approximately $1,151,133. The trade was a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DLR. Scotiabank dropped their price target on Digital Realty Trust from $208.00 to $206.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $193.00 price target (up from $190.00) on shares of Digital Realty Trust in a research note on Friday, April 25th. Citigroup reissued a "buy" rating and issued a $200.00 price target (up from $174.00) on shares of Digital Realty Trust in a research note on Monday, July 28th. Wells Fargo & Company boosted their price target on Digital Realty Trust from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Raymond James Financial boosted 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Digital Realty Trust has an average rating of "Moderate Buy" and an average price target of $190.68.

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.