Sun Life Financial Inc. Buys 9,939 Shares of Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• Sun Life Financial Inc. increased its stake in Digital Realty Trust by 4.9%, acquiring an additional 9,939 shares, raising its total holdings to 213,509 shares, which now represents approximately 1.9% of its portfolio.
• Several hedge funds have also adjusted their positions in Digital Realty Trust, with notable increases from Orion Portfolio Solutions LLC and Wellington Management Group LLP, contributing to institutional ownership of nearly 99.71% of the stock.
• Digital Realty Trust reported a quarterly earnings increase, with adjusted earnings per share of $1.87, surpassing analysts' estimates, and a quarterly revenue of $1.49 billion, up 10% year-over-year.

Sun Life Financial Inc. grew its stake in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,509 shares of the real estate investment trust's stock after acquiring an additional 9,939 shares during the period. Digital Realty Trust accounts for approximately 1.9% of Sun Life Financial Inc.'s holdings, making the stock its 13th largest position. Sun Life Financial Inc. owned approximately 0.06% of Digital Realty Trust worth $30,594,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DLR. Orion Portfolio Solutions LLC grew its holdings in Digital Realty Trust by 16.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,101 shares of the real estate investment trust's stock worth $905,000 after purchasing an additional 736 shares during the period. Wellington Management Group LLP grew its holdings in Digital Realty Trust by 4.2% during the fourth quarter. Wellington Management Group LLP now owns 325,678 shares of the real estate investment trust's stock worth $57,752,000 after purchasing an additional 13,259 shares during the period. World Investment Advisors bought a new position in Digital Realty Trust during the fourth quarter worth about $630,000. Motley Fool Asset Management LLC grew its holdings in Digital Realty Trust by 13.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 14,921 shares of the real estate investment trust's stock worth $2,646,000 after purchasing an additional 1,746 shares during the period. Finally, Pitcairn Co. bought a new position in Digital Realty Trust during the fourth quarter worth about $219,000. Institutional investors own 99.71% of the company's stock.

Insider Buying and Selling

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the business's stock in a transaction that occurred 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 in the company, valued at $1,151,133. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DLR. Truist Financial set a $199.00 price target on Digital Realty Trust and gave the stock a "buy" rating in a report on Wednesday. Wells Fargo & Company lifted their price target on Digital Realty Trust from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Citigroup reiterated a "buy" rating and set a $200.00 price target (up previously from $174.00) on shares of Digital Realty Trust in a report on Monday. Oppenheimer initiated 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 for the company. Finally, JMP Securities restated a "market outperform" rating and set a $220.00 price objective on shares of Digital Realty Trust in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Digital Realty Trust currently has an average rating of "Moderate Buy" and an average price target of $190.68.

Digital Realty Trust Stock Down 2.5%

NYSE DLR opened at $172.05 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.82. Digital Realty Trust, Inc. has a 1-year low of $129.95 and a 1-year high of $198.00. The company has a 50 day moving average of $174.33 and a 200-day moving average of $164.02. The company has a market cap of $57.94 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 3.28 and a beta of 0.92.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm's quarterly revenue was up 10.0% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, June 13th. Digital Realty Trust's payout ratio is currently 128.08%.

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.

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