Digital Realty Trust, Inc. (NYSE:DLR) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Digital Realty Trust by 38.7%, selling 25,698 shares in the first quarter, leaving them with 40,653 shares valued at approximately $5.8 million.
• Digital Realty Trust recently reported an earnings per share (EPS) of $1.87 for the quarter, exceeding analysts' expectations and indicating a 10% revenue growth year-over-year to $1.49 billion.
• The company's quarterly dividend was issued at $1.22 per share, representing an annual yield of 2.8%, with a high dividend payout ratio of 128.08%.

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 38.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,653 shares of the real estate investment trust's stock after selling 25,698 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Digital Realty Trust were worth $5,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Key Financial Inc raised its position 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 buying an additional 138 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Digital Realty Trust during the 1st quarter worth approximately $38,000. Grove Bank & Trust increased its position in Digital Realty Trust by 306.7% during the 1st quarter. Grove Bank & Trust now owns 305 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 230 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Digital Realty Trust during the 1st quarter worth approximately $49,000. Finally, Adirondack Trust Co. increased its position in Digital Realty Trust by 40.8% during the 1st quarter. Adirondack Trust Co. now owns 352 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Digital Realty Trust Price Performance

NYSE:DLR traded down $2.81 during trading hours on Wednesday, hitting $169.36. 872,535 shares of the stock traded hands, compared to its average volume of 2,135,564. Digital Realty Trust, Inc. has a 1 year low of $129.95 and a 1 year high of $198.00. The stock has a 50 day moving average price of $174.44 and a 200 day moving average price of $163.85. The company has a quick ratio of 1.92, a current ratio of 2.22 and a debt-to-equity ratio of 0.82. The company has a market cap of $57.76 billion, a price-to-earnings ratio of 44.45, a price-to-earnings-growth ratio of 3.21 and a beta of 0.92.

Digital Realty Trust (NYSE:DLR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.13. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Digital Realty Trust's revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that Digital Realty Trust, Inc. will post 7.07 EPS for the current fiscal year.

Digital Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 2.9%. The ex-dividend date was Friday, June 13th. Digital Realty Trust's dividend payout ratio is presently 128.08%.

Wall Street Analysts Forecast Growth

DLR has been the topic of a number of research reports. Raymond James Financial boosted their target price on shares of Digital Realty Trust from $190.00 to $205.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $193.00 price objective (up from $190.00) on shares of Digital Realty Trust in a research note on Friday, April 25th. Stifel Nicolaus upped their price target on Digital Realty Trust from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Friday, July 25th. 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 note on Tuesday, April 22nd. Finally, New Street Research upgraded shares of Digital Realty Trust to a "hold" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $190.68.

Insider Transactions at Digital Realty Trust

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

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.