Digital Realty Trust, Inc. (NYSE:DLR) Shares Sold by L & S Advisors Inc

Key Points

• L & S Advisors Inc reduced its stake in Digital Realty Trust by 70.7% in Q1, now holding 18,119 shares valued at approximately $2.60 million.
• Digital Realty Trust reported earnings of $1.87 per share for the last quarter, surpassing estimates and reflecting a 10% year-over-year revenue increase.
• The company declared a quarterly dividend of $1.22 per share, translating to an annualized yield of 2.8% and a high payout ratio of 128.08%.

L & S Advisors Inc reduced its stake in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 70.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,119 shares of the real estate investment trust's stock after selling 43,757 shares during the period. L & S Advisors Inc's holdings in Digital Realty Trust were worth $2,596,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DLR. Northern Trust Corp lifted its position in shares of Digital Realty Trust by 57.5% during the 4th quarter. Northern Trust Corp now owns 5,080,550 shares of the real estate investment trust's stock valued at $900,934,000 after buying an additional 1,854,748 shares in the last quarter. Deutsche Bank AG lifted its holdings in Digital Realty Trust by 66.6% in the 4th quarter. Deutsche Bank AG now owns 3,081,821 shares of the real estate investment trust's stock worth $546,499,000 after purchasing an additional 1,232,043 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Digital Realty Trust by 13,842.2% in the 1st quarter. GAMMA Investing LLC now owns 1,131,131 shares of the real estate investment trust's stock worth $162,080,000 after purchasing an additional 1,123,018 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Digital Realty Trust in the 4th quarter worth approximately $182,126,000. Finally, Pictet Asset Management Holding SA increased its stake in Digital Realty Trust by 41.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,129,819 shares of the real estate investment trust's stock worth $448,422,000 after acquiring an additional 918,549 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DLR shares. Bank of America started coverage on Digital Realty Trust in a research note on Monday, May 19th. They issued a "buy" rating and a $210.00 price objective on the stock. New Street Research raised Digital Realty Trust to a "hold" rating in a research report on Monday, April 28th. Mizuho boosted their target price on Digital Realty Trust from $177.00 to $191.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Wells Fargo & Company boosted their target price on Digital Realty Trust from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Scotiabank cut their target price on Digital Realty Trust from $208.00 to $206.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $190.68.

Insider Buying and Selling

In related news, Director Mark R. Patterson sold 175 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $176.50, for a total transaction of $30,887.50. Following the sale, the director directly owned 6,522 shares of the company's stock, valued at $1,151,133. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Digital Realty Trust Stock Performance

Shares of DLR stock traded down $1.45 during mid-day trading on Tuesday, reaching $171.46. The stock had a trading volume of 163,270 shares, compared to its average volume of 2,139,042. The business's fifty day moving average is $174.42 and its 200-day moving average is $163.79. The company has a current ratio of 2.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.82. The firm has a market cap of $57.75 billion, a price-to-earnings ratio of 45.11, a PEG ratio of 3.20 and a beta of 0.92. 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 data on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.13. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%. The company's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 earnings per share. On average, research analysts forecast that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, June 13th. Digital Realty Trust's dividend payout ratio (DPR) 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.