Pacific Heights Asset Management LLC Buys 25,000 Shares of Digital Realty Trust, Inc. (NYSE:DLR)

Pacific Heights Asset Management LLC lifted its position in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,000 shares of the real estate investment trust's stock after buying an additional 25,000 shares during the period. Pacific Heights Asset Management LLC's holdings in Digital Realty Trust were worth $14,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DLR. Fairway Wealth LLC bought a new position in shares of Digital Realty Trust in the fourth quarter worth approximately $35,000. Opal Wealth Advisors LLC bought a new position in shares of Digital Realty Trust in the first quarter worth approximately $38,000. SRS Capital Advisors Inc. lifted its stake in shares of Digital Realty Trust by 502.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 241 shares of the real estate investment trust's stock worth $43,000 after buying an additional 201 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Digital Realty Trust in the fourth quarter worth approximately $43,000. Finally, Grove Bank & Trust lifted its stake in shares of 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 worth $44,000 after buying an additional 230 shares in the last quarter. Institutional investors own 99.71% of the company's stock.

Digital Realty Trust Stock Performance

DLR stock traded up $0.44 during midday trading on Friday, reaching $172.60. 780,879 shares of the company's stock traded hands, compared to its average volume of 2,021,782. The stock's 50-day moving average is $170.84 and its 200 day moving average is $164.37. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.81. The stock has a market cap of $58.13 billion, a P/E ratio of 161.31, a PEG ratio of 2.63 and a beta of 0.95. Digital Realty Trust, Inc. has a 52-week low of $129.95 and a 52-week high of $198.00.

Digital Realty Trust (NYSE:DLR - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.04. The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. Digital Realty Trust had a net margin of 7.65% and a return on equity of 2.07%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. As a group, analysts anticipate that Digital Realty Trust, Inc. will post 7.07 EPS for the current year.

Digital Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.83%. Digital Realty Trust's dividend payout ratio (DPR) is presently 456.07%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DLR. Mizuho increased their price objective on shares of Digital Realty Trust from $177.00 to $191.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Truist Financial lowered their price objective 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. Bank of America began coverage on shares of Digital Realty Trust in a research report on Monday, May 19th. They set a "buy" rating and a $210.00 price objective on the stock. Oppenheimer began coverage on shares of Digital Realty Trust in a research report on Wednesday, May 14th. They set an "outperform" rating and a $200.00 price objective on the stock. Finally, Scotiabank lowered their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $187.16.

Insider Activity

In other news, Director Mark R. Patterson sold 175 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $176.50, for a total value of $30,887.50. Following the completion of the sale, the director directly owned 6,522 shares of the company's stock, valued at $1,151,133. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

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.