First County Bank CT Invests $323,000 in Digital Realty Trust, Inc. $DLR

Key Points

• First County Bank CT invested $323,000 in Digital Realty Trust, acquiring 1,851 shares during the second quarter, reflecting increased interest from institutional investors.
• Digital Realty Trust reported a 10% increase in revenue year-over-year, with earnings per share surpassing analysts' expectations at $1.87 for the last quarter.
• The company announced a quarterly dividend of $1.22 per share, contributing to an annualized yield of 2.8% despite a high payout ratio of 128.08%.

First County Bank CT purchased a new stake in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,851 shares of the real estate investment trust's stock, valued at approximately $323,000.

Other hedge funds also recently modified their holdings of the company. Walker Asset Management LLC acquired a new stake in Digital Realty Trust in the 2nd quarter valued at about $223,000. Smith Salley Wealth Management raised its position in Digital Realty Trust by 3.9% during the second quarter. Smith Salley Wealth Management now owns 11,911 shares of the real estate investment trust's stock valued at $2,077,000 after buying an additional 446 shares during the period. Spirepoint Private Client LLC acquired a new stake in shares of Digital Realty Trust during the second quarter worth approximately $209,000. Signaturefd LLC increased its stake in shares of Digital Realty Trust by 11.3% in the second quarter. Signaturefd LLC now owns 4,716 shares of the real estate investment trust's stock worth $822,000 after acquiring an additional 477 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Digital Realty Trust by 0.6% during the second quarter. State of Alaska Department of Revenue now owns 200,711 shares of the real estate investment trust's stock valued at $34,989,000 after acquiring an additional 1,150 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DLR shares. Wall Street Zen raised Digital Realty Trust from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Wells Fargo & Company raised their price objective on Digital Realty Trust from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Barclays lifted their target price on shares of Digital Realty Trust from $140.00 to $141.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. Mizuho boosted their target price on shares of Digital Realty Trust from $177.00 to $191.00 and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Finally, Truist Financial set a $199.00 target price on Digital Realty Trust and gave the stock a "buy" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $190.74.

Digital Realty Trust Price Performance

NYSE:DLR opened at $171.54 on Monday. 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 has a fifty day simple moving average of $170.60 and a 200 day simple moving average of $165.36. The stock has a market capitalization of $58.51 billion, a PE ratio of 45.02, a P/E/G ratio of 4.93 and a beta of 0.96. Digital Realty Trust, Inc. has a 1-year low of $129.95 and a 1-year high of $198.00.

Digital Realty Trust (NYSE:DLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.13. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%.The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The business's revenue was up 10.0% compared to the same quarter last year. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. On average, research analysts expect that Digital Realty Trust, Inc. will post 7.07 EPS for the current fiscal year.

Digital Realty Trust Announces Dividend

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

Insider Activity

In other news, CEO Andrew Power sold 53,269 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $175.16, for a total transaction of $9,330,598.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

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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