Sitrin Capital Management LLC Makes New $3.95 Million Investment in Digital Realty Trust, Inc. (NYSE:DLR)

Sitrin Capital Management LLC purchased a new position in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,543 shares of the real estate investment trust's stock, valued at approximately $3,947,000. Digital Realty Trust makes up approximately 2.1% of Sitrin Capital Management LLC's holdings, making the stock its 27th biggest holding.

A number of other hedge funds have also made changes to their positions in DLR. Fairway Wealth LLC acquired a new position in Digital Realty Trust in the fourth quarter worth $35,000. Millstone Evans Group LLC acquired a new position in Digital Realty Trust in the fourth quarter worth $43,000. SRS Capital Advisors Inc. boosted its holdings in 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 purchasing an additional 201 shares during the period. OFI Invest Asset Management acquired a new position in Digital Realty Trust in the fourth quarter worth $45,000. Finally, Opal Wealth Advisors LLC acquired a new position in Digital Realty Trust in the first quarter worth $38,000. Institutional investors and hedge funds own 99.71% of the company's stock.

Digital Realty Trust Price Performance

NYSE:DLR traded up $0.44 during mid-day trading on Friday, reaching $172.60. 780,879 shares of the stock were exchanged, compared to its average volume of 2,018,742. The business has a fifty day moving average price of $170.59 and a 200 day moving average price of $164.54. The firm has a market capitalization of $58.13 billion, a PE ratio of 161.31, a PEG ratio of 2.63 and a beta of 0.95. 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.

Digital Realty Trust (NYSE:DLR - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $1.43 billion. Digital Realty Trust had a return on equity of 2.07% and a net margin of 7.65%. Digital Realty Trust's revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. Research analysts expect that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current fiscal year.

Digital Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, June 13th. Digital Realty Trust's payout ratio is currently 456.07%.

Analysts Set New Price Targets

A number of equities analysts have commented on DLR shares. Wall Street Zen raised shares of Digital Realty Trust from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Truist Financial cut their target price on Digital Realty Trust from $185.00 to $184.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and issued a $220.00 target price on shares of Digital Realty Trust in a research note on Monday, April 28th. Bank of America initiated coverage on Digital Realty Trust in a research note on Monday, May 19th. They issued a "buy" rating and a $210.00 target price on the stock. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $193.00 target price (up from $190.00) on shares of Digital Realty Trust in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Digital Realty Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $187.16.

Insider Transactions at Digital Realty Trust

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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.13% 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.