Syntax Research Inc. Takes Position in Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• Syntax Research Inc. invested approximately $2.15 million in Digital Realty Trust, acquiring 15,000 shares, which now represent 1.5% of its total holdings.
• Digital Realty Trust reported earnings of $1.87 per share for the last quarter, exceeding analysts' expectations, with revenues rising 10% year-over-year to $1.49 billion.
• The company's latest dividend was $1.22 per share, resulting in an annual yield of 2.71%, although its payout ratio is unusually high at 456.07%.

Syntax Research Inc. purchased a new stake in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,000 shares of the real estate investment trust's stock, valued at approximately $2,149,000. Digital Realty Trust comprises about 1.5% of Syntax Research Inc.'s holdings, making the stock its 28th biggest position.

Several other hedge funds have also modified their holdings of the company. Key Financial Inc increased its holdings in shares of Digital Realty Trust by 114.0% during the first 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 valued at about $38,000. Grove Bank & Trust increased its holdings 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 valued at $44,000 after acquiring 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 valued at about $49,000. Finally, Adirondack Trust Co. increased its holdings 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 valued at $50,000 after acquiring an additional 102 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark R. Patterson sold 175 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $176.50, for a total transaction of $30,887.50. Following the transaction, the director owned 6,522 shares in the company, valued at $1,151,133. This trade represents a 2.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DLR shares. Jefferies Financial Group restated a "buy" rating and set a $193.00 price objective (up previously from $190.00) on shares of Digital Realty Trust in a report on Friday, April 25th. Truist Financial cut their price target on shares of Digital Realty Trust from $185.00 to $184.00 and set a "buy" rating on the stock in a report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and issued a $220.00 price target on shares of Digital Realty Trust in a report on Monday, April 28th. New Street Research upgraded shares of Digital Realty Trust to a "hold" rating in a report on Monday, April 28th. Finally, Guggenheim started coverage on shares of Digital Realty Trust in a report on Wednesday, July 9th. They issued a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.53.

Digital Realty Trust Stock Performance

Digital Realty Trust stock traded down $2.16 during mid-day trading on Friday, hitting $177.86. The company had a trading volume of 2,602,172 shares, compared to its average volume of 1,482,118. 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, Inc. has a 12-month low of $129.95 and a 12-month high of $198.00. The company's fifty day moving average is $173.62 and its 200-day moving average is $163.91. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of 46.68, a P/E/G ratio of 2.68 and a beta of 0.95.

Digital Realty Trust (NYSE:DLR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $1.87 EPS for the quarter, topping the consensus estimate of $1.74 by $0.13. Digital Realty Trust had a return on equity of 6.59% and a net margin of 23.98%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The business's quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that Digital Realty Trust, Inc. will post 7.07 EPS for the current year.

Digital Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.74%. 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.