M&T Bank Corp Reduces Holdings in Digital Realty Trust, Inc. (NYSE:DLR)

M&T Bank Corp cut its holdings in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,060 shares of the real estate investment trust's stock after selling 1,746 shares during the quarter. M&T Bank Corp's holdings in Digital Realty Trust were worth $16,056,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Stratos Investment Management LLC increased its stake in shares of Digital Realty Trust by 56.0% during the first quarter. Stratos Investment Management LLC now owns 23,427 shares of the real estate investment trust's stock worth $3,357,000 after acquiring an additional 8,407 shares during the period. Brown Advisory Inc. increased its stake in shares of Digital Realty Trust by 25.2% during the first quarter. Brown Advisory Inc. now owns 8,174 shares of the real estate investment trust's stock worth $1,171,000 after acquiring an additional 1,644 shares during the period. Alpha Cubed Investments LLC lifted its holdings in shares of Digital Realty Trust by 102.6% in the first quarter. Alpha Cubed Investments LLC now owns 402,525 shares of the real estate investment trust's stock valued at $57,678,000 after purchasing an additional 203,799 shares in the last quarter. Horst & Graben Wealth Management LLC grew its position in shares of Digital Realty Trust by 24.8% in the first quarter. Horst & Graben Wealth Management LLC now owns 15,965 shares of the real estate investment trust's stock valued at $2,288,000 after purchasing an additional 3,173 shares during the last quarter. Finally, Washington Trust Bank grew its position in shares of Digital Realty Trust by 1.1% in the first quarter. Washington Trust Bank now owns 37,833 shares of the real estate investment trust's stock valued at $5,421,000 after purchasing an additional 404 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mark R. Patterson sold 175 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $176.50, for a total transaction of $30,887.50. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on DLR. Truist Financial lowered their price target on shares of Digital Realty Trust from $185.00 to $184.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Jefferies Financial Group reiterated a "buy" rating and issued a $193.00 price target (up from $190.00) on shares of Digital Realty Trust in a research report on Friday, April 25th. Scotiabank lowered their price target on shares of 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. JMP Securities reissued a "market outperform" rating and set a $220.00 price objective on shares of Digital Realty Trust in a research note on Monday, April 28th. Finally, 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 price objective on the stock. One equities 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 given a strong buy rating to the company. According to MarketBeat, Digital Realty Trust presently has an average rating of "Moderate Buy" and an average price target of $187.16.

Digital Realty Trust Trading Up 0.2%

NYSE:DLR traded up $0.35 during trading hours on Wednesday, reaching $171.15. 1,004,057 shares of the company were exchanged, compared to its average volume of 2,015,190. Digital Realty Trust, Inc. has a 52-week low of $129.95 and a 52-week high of $198.00. The stock has a 50 day simple moving average of $171.28 and a 200 day simple moving average of $164.27. The firm has a market cap of $57.64 billion, a price-to-earnings ratio of 159.95, a PEG ratio of 2.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.92 and a quick ratio of 1.92.

Digital Realty Trust (NYSE:DLR - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The business's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Digital Realty Trust, Inc. will post 7.07 EPS for the current year.

Digital Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, June 13th. Digital Realty Trust's payout ratio is currently 456.07%.

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.