Summit Financial LLC Purchases New Shares in Digital Realty Trust, Inc. $DLR

Key Points

• Summit Financial LLC has made a new investment of approximately $450,000 in Digital Realty Trust, purchasing 3,140 shares of the real estate investment trust.
• Analysts are optimistic about Digital Realty Trust, with two analysts rating it as a Strong Buy and setting target prices ranging from $199.00 to $205.00.
• The company recently announced a quarterly dividend of $1.22 per share, which translates to an annualized dividend yield of 2.9%.

Summit Financial LLC acquired a new position in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,140 shares of the real estate investment trust's stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DLR. Vanguard Group Inc. raised its position in shares of Digital Realty Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 52,378,860 shares of the real estate investment trust's stock valued at $7,505,367,000 after acquiring an additional 925,674 shares during the period. Northern Trust Corp raised its position in shares of Digital Realty Trust by 4.3% in the 1st quarter. Northern Trust Corp now owns 5,301,199 shares of the real estate investment trust's stock valued at $759,609,000 after acquiring an additional 220,649 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Digital Realty Trust by 11.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,819,606 shares of the real estate investment trust's stock valued at $854,661,000 after acquiring an additional 492,692 shares during the period. Dimensional Fund Advisors LP raised its holdings in Digital Realty Trust by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,714,045 shares of the real estate investment trust's stock worth $675,456,000 after buying an additional 57,312 shares during the period. Finally, Invesco Ltd. raised its holdings in Digital Realty Trust by 4.8% during the 1st quarter. Invesco Ltd. now owns 4,092,496 shares of the real estate investment trust's stock worth $586,414,000 after buying an additional 186,613 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Digital Realty Trust Stock Down 0.6%

Shares of NYSE:DLR traded down $0.96 during midday trading on Thursday, hitting $168.77. The stock had a trading volume of 1,010,145 shares, compared to its average volume of 2,069,661. Digital Realty Trust, Inc. has a 12 month low of $129.95 and a 12 month high of $198.00. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.82. The business's 50-day simple moving average is $172.10 and its 200-day simple moving average is $163.60. The company has a market cap of $57.56 billion, a P/E ratio of 44.30, a PEG ratio of 4.83 and a beta of 0.92.

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 the consensus estimate 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 business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the business earned $1.65 earnings per share. The firm's revenue was up 10.0% on a year-over-year basis. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. On average, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Digital Realty Trust's payout ratio is 128.08%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts have commented on DLR shares. Stifel Nicolaus raised their target price on shares of Digital Realty Trust from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Digital Realty Trust from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Wells Fargo & Company raised their target price 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. Mizuho raised their target price 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. Finally, Raymond James Financial raised 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $190.74.

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.