Novare Capital Management LLC Has $3.65 Million Stock Holdings in Digital Realty Trust, Inc. $DLR

Key Points

• Novare Capital Management LLC reduced its stake in Digital Realty Trust, Inc. by 9.7%, holding $3.65 million worth of stock after selling 2,243 shares recently.
• Several hedge funds have increased their stakes in Digital Realty Trust, with the Canada Pension Plan Investment Board boosting its holdings by 63% to over 7 million shares valued at $1.02 billion.
• Digital Realty Trust reported earnings of $1.87 per share, exceeding estimates, and announced a quarterly dividend of $1.22 per share, with an annual yield of 2.8%.

Novare Capital Management LLC cut its stake in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,913 shares of the real estate investment trust's stock after selling 2,243 shares during the quarter. Novare Capital Management LLC's holdings in Digital Realty Trust were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DLR. Canada Pension Plan Investment Board increased its stake in shares of Digital Realty Trust by 63.0% in the first quarter. Canada Pension Plan Investment Board now owns 7,144,737 shares of the real estate investment trust's stock worth $1,023,769,000 after acquiring an additional 2,760,286 shares during the last quarter. Nuveen LLC acquired a new position in shares of Digital Realty Trust in the first quarter worth $342,389,000. Vanguard Group Inc. increased its stake in shares of Digital Realty Trust by 1.8% in the first quarter. Vanguard Group Inc. now owns 52,378,860 shares of the real estate investment trust's stock worth $7,505,367,000 after acquiring an additional 925,674 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Digital Realty Trust by 41.5% during the first 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 buying an additional 918,549 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Digital Realty Trust by 37.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,009,673 shares of the real estate investment trust's stock worth $431,256,000 after buying an additional 816,334 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DLR has been the topic of several research analyst reports. Truist Financial set a $199.00 price target on Digital Realty Trust and gave the company a "buy" rating in a research report on Wednesday, July 30th. Citigroup reaffirmed a "buy" rating on shares of Digital Realty Trust in a research report on Tuesday, August 26th. Guggenheim initiated coverage on Digital Realty Trust in a research report on Wednesday, July 9th. They issued a "neutral" rating on the stock. Morgan Stanley initiated coverage on Digital Realty Trust in a research report on Thursday. They issued an "equal weight" rating and a $195.00 price target on the stock. Finally, Raymond James Financial raised their price target on Digital Realty Trust from $190.00 to $205.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $191.25.

Digital Realty Trust Stock Down 0.6%

DLR stock opened at $172.94 on Friday. Digital Realty Trust, Inc. has a twelve month low of $129.95 and a twelve month high of $198.00. The company has a market cap of $58.98 billion, a PE ratio of 45.39, a price-to-earnings-growth ratio of 4.90 and a beta of 0.96. The business's 50-day simple moving average is $170.01 and its 200 day simple moving average is $167.66. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.82.

Digital Realty Trust (NYSE:DLR - Get Free Report) last released its 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. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.44 billion. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%.The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $1.65 earnings per share. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. On average, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Digital Realty Trust's payout ratio is presently 128.08%.

Insiders Place Their Bets

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 value of $9,330,598.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company's stock.

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.

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