The Manufacturers Life Insurance Company Trims Stake in Digital Realty Trust, Inc. $DLR

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Digital Realty Trust by 3.5%, selling 16,473 shares and holding 448,908 shares valued at $64.32 million.
• Digital Realty Trust reported a 10% increase in revenue year-over-year, reaching $1.49 billion, and its quarterly earnings exceeded analyst estimates with an EPS of $1.87.
• The company announced a quarterly dividend of $1.22 per share, with an annual yield of 2.9%, despite a dividend payout ratio of 128.08%.

The Manufacturers Life Insurance Company lowered its position in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 3.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 448,908 shares of the real estate investment trust's stock after selling 16,473 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of Digital Realty Trust worth $64,324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DLR. Greykasell Wealth Strategies Inc. purchased a new position in Digital Realty Trust in the 1st quarter valued at $26,000. WPG Advisers LLC purchased a new stake in Digital Realty Trust in the 1st quarter valued at $30,000. Key Financial Inc grew its holdings in Digital Realty Trust by 114.0% in the 1st quarter. Key Financial Inc now owns 259 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 138 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Digital Realty Trust in the 1st quarter valued at $38,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in Digital Realty Trust in the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 99.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus upped their target price on Digital Realty Trust from $190.00 to $205.00 and gave the company a "buy" rating in a report on Friday, July 25th. Citigroup restated a "buy" rating on shares of Digital Realty Trust in a research report on Tuesday, August 26th. Wells Fargo & Company lifted their target price on Digital Realty Trust from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Oppenheimer began coverage on Digital Realty Trust in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $200.00 target price on the stock. Finally, Wall Street Zen upgraded Digital Realty Trust from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.74.

Digital Realty Trust Stock Up 0.8%

NYSE DLR traded up $1.29 during trading hours on Thursday, hitting $162.79. 695,169 shares of the company were exchanged, compared to its average volume of 2,052,201. The company has a 50 day moving average of $171.09 and a two-hundred day moving average of $163.64. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.82. Digital Realty Trust, Inc. has a 52-week low of $129.95 and a 52-week high of $198.00. The firm has a market cap of $55.52 billion, a price-to-earnings ratio of 42.70, a PEG ratio of 4.82 and a beta of 0.96.

Digital Realty Trust (NYSE:DLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.13. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%.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 EPS. Digital Realty Trust's revenue for the quarter 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. Equities research analysts anticipate that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current year.

Digital Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.22 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.0%. Digital Realty Trust's dividend payout ratio is presently 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.