Digital Realty Trust, Inc. (NYSE:DLR) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its position in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,897 shares of the real estate investment trust's stock after selling 15,113 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Digital Realty Trust were worth $20,906,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DLR. Key Financial Inc grew its position in 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 acquiring an additional 138 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Digital Realty Trust during the first quarter worth about $38,000. Grove Bank & Trust grew its position in shares of Digital Realty Trust by 306.7% during 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. Alpine Bank Wealth Management acquired a new position in shares of Digital Realty Trust during the first quarter worth about $49,000. Finally, Adirondack Trust Co. grew its position in shares of Digital Realty Trust by 40.8% during the first quarter. Adirondack Trust Co. now owns 352 shares of the real estate investment trust's stock worth $50,000 after buying an additional 102 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DLR. New Street Research raised Digital Realty Trust to a "hold" rating in a report on Monday, April 28th. Truist Financial lowered their price target on Digital Realty Trust from $185.00 to $184.00 and set a "buy" rating for the company in a report on Monday, May 12th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $193.00 price target (up from $190.00) on shares of Digital Realty Trust in a report on Friday, April 25th. Citigroup lowered their price target on Digital Realty Trust from $188.00 to $174.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Guggenheim began coverage on Digital Realty Trust in a report on Wednesday, July 9th. They issued a "neutral" rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $187.21.

Digital Realty Trust Stock Performance

Shares of Digital Realty Trust stock traded up $1.08 during trading hours on Thursday, hitting $180.32. 1,880,871 shares of the company were exchanged, compared to its average volume of 1,624,705. Digital Realty Trust, Inc. has a 1 year low of $129.95 and a 1 year high of $198.00. 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 business has a 50-day moving average of $173.46 and a 200-day moving average of $164.04. The stock has a market capitalization of $60.73 billion, a price-to-earnings ratio of 168.53, a P/E/G ratio of 2.70 and a beta of 0.95.

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 EPS for the quarter, topping the consensus estimate of $1.73 by $0.14. Digital Realty Trust had a return on equity of 2.07% and a net margin of 7.65%. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Digital Realty Trust's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts expect that Digital Realty Trust, Inc. will post 7.07 EPS for the current fiscal year.

Digital Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 2.71%. The ex-dividend date was Friday, June 13th. Digital Realty Trust's payout ratio is 456.07%.

Insider Transactions at Digital Realty Trust

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $176.50, for a total value of $30,887.50. Following the completion of the transaction, the director owned 6,522 shares in the company, valued at approximately $1,151,133. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.