Nuveen LLC Invests $342.39 Million in Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• Nuveen LLC acquired approximately 2,389,485 shares of Digital Realty Trust, equating to a value of around $342.4 million, establishing a position that represents 0.71% of the company's total stock.
• In its latest earnings release, Digital Realty reported $1.87 EPS, exceeding expectations, along with quarterly revenue growth of 10% year-over-year, amounting to $1.49 billion.
• Digital Realty Trust announced a quarterly dividend of $1.22 per share, which has led to an annualized dividend yield of approximately 2.9%, despite a payout ratio of over 128%.

Nuveen LLC bought a new position in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,389,485 shares of the real estate investment trust's stock, valued at approximately $342,389,000. Nuveen LLC owned approximately 0.71% of Digital Realty Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of DLR. Greykasell Wealth Strategies Inc. bought a new stake in shares of Digital Realty Trust during the first quarter worth approximately $26,000. Key Financial Inc raised its stake in shares of Digital Realty Trust by 114.0% in the 1st quarter. Key Financial Inc now owns 259 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 138 shares during the period. Opal Wealth Advisors LLC acquired a new position in Digital Realty Trust during the 1st quarter worth approximately $38,000. Grove Bank & Trust grew its position in Digital Realty Trust by 306.7% in the first quarter. Grove Bank & Trust now owns 305 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 230 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Digital Realty Trust in the first quarter valued at about $49,000. Institutional investors and hedge funds own 99.71% of the company's stock.

Wall Street Analyst Weigh In

DLR has been the subject of a number of analyst reports. New Street Research raised shares of Digital Realty Trust to a "hold" rating in a research report on Monday, April 28th. Guggenheim assumed coverage on Digital Realty Trust in a research note on Wednesday, July 9th. They issued a "neutral" rating on the stock. Mizuho lifted their target price on Digital Realty Trust from $177.00 to $191.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 17th. Bank of America started coverage on Digital Realty Trust in a report on Monday, May 19th. They set a "buy" rating and a $210.00 price target for the company. Finally, Oppenheimer began coverage on shares of Digital Realty Trust in a report on Wednesday, May 14th. They issued an "outperform" rating and a $200.00 price objective on the stock. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $190.68.

Insider Activity

In related 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 transaction of $30,887.50. Following the sale, the director owned 6,522 shares in the company, valued at $1,151,133. The trade was a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company's stock.

Digital Realty Trust Price Performance

Shares of DLR traded down $2.41 during midday trading on Thursday, hitting $166.17. The company's stock had a trading volume of 1,308,987 shares, compared to its average volume of 2,101,051. 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, Inc. has a one year low of $129.95 and a one year high of $198.00. The stock has a market capitalization of $56.67 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 4.87 and a beta of 0.92. The company's fifty day simple moving average is $174.06 and its two-hundred day simple moving average is $163.47.

Digital Realty Trust (NYSE:DLR - Get Free Report) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $1.87 EPS for the quarter, topping the consensus estimate of $1.74 by $0.13. The firm had revenue of $1.49 billion during 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 business'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. As a group, equities analysts expect that Digital Realty Trust, Inc. will post 7.07 earnings per share 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. Stockholders of record on Monday, September 15th will be issued a dividend of $1.22 per share. The ex-dividend date is Monday, September 15th. This represents a $4.88 annualized dividend and a dividend yield of 2.9%. Digital Realty Trust's dividend payout ratio is 128.08%.

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.