Public Sector Pension Investment Board Trims Position in Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• The Public Sector Pension Investment Board has significantly reduced its stake in Digital Realty Trust, lowering its position by 66.3% to 84,576 shares in the first quarter.
• Digital Realty Trust reported a quarterly earnings per share (EPS) of $1.87, beating the consensus estimate of $1.74, while also announcing a dividend of $1.22 per share.
• Analysts have a consensus rating of "Moderate Buy" for Digital Realty Trust, with an average target price of $190.68.

Public Sector Pension Investment Board lessened its stake in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 66.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,576 shares of the real estate investment trust's stock after selling 166,744 shares during the quarter. Public Sector Pension Investment Board's holdings in Digital Realty Trust were worth $12,119,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DLR. Greykasell Wealth Strategies Inc. bought a new stake in Digital Realty Trust in the first quarter worth approximately $26,000. Key Financial Inc grew its position in Digital Realty Trust by 114.0% in the first quarter. Key Financial Inc now owns 259 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 138 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Digital Realty Trust in the first 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 worth $44,000 after acquiring an additional 230 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in Digital Realty Trust in the first quarter worth approximately $49,000. Institutional investors and hedge funds own 99.71% of the company's stock.

Insiders Place Their Bets

In related news, Director Mark R. Patterson sold 175 shares of Digital Realty Trust stock in a transaction dated 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 sale, the director owned 6,522 shares of the company's stock, valued at approximately $1,151,133. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DLR. Raymond James Financial upped their price objective 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. Mizuho upped their price objective on shares of Digital Realty Trust from $177.00 to $191.00 and gave the stock an "outperform" rating in a report on Tuesday, June 17th. Wells Fargo & Company upped their price objective on shares of Digital Realty Trust from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Truist Financial set a $199.00 price target on shares of Digital Realty Trust and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, JMP Securities restated a "market outperform" rating and issued a $220.00 price objective on shares of Digital Realty Trust in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $190.68.

Digital Realty Trust Trading Down 1.4%

NYSE DLR traded down $2.41 during trading hours on Thursday, reaching $166.17. The company's stock had a trading volume of 1,313,018 shares, compared to its average volume of 1,467,827. The firm has a fifty day simple moving average of $173.86 and a 200-day simple moving average of $163.48. The stock has a market cap of $56.67 billion, a P/E ratio of 43.61, a P/E/G ratio of 4.85 and a beta of 0.92. Digital Realty Trust, Inc. has a 52 week low of $129.95 and a 52 week high of $198.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.22 and a quick ratio of 2.22.

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, beating analysts' consensus estimates of $1.74 by $0.13. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.44 billion. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. Equities analysts forecast that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.88 annualized dividend and a yield of 2.9%. Digital Realty Trust's dividend payout ratio (DPR) 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.