Vision Capital Corp Sells 60,000 Shares of Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• Vision Capital Corp reduced its stake in Digital Realty Trust by 50.4%, now holding 58,969 shares valued at approximately $8.45 million, making it the 12th largest position in its portfolio.
• Digital Realty Trust is experiencing strong interest from hedge funds, with several institutions increasing their stakes, indicating a positive outlook for the REIT.
• Raymond James raised its price target for Digital Realty Trust to $205.00, while analysts generally maintain a "Moderate Buy" rating with an average price target of $190.68.

Vision Capital Corp lessened its stake in Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 50.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,969 shares of the real estate investment trust's stock after selling 60,000 shares during the quarter. Digital Realty Trust makes up approximately 1.9% of Vision Capital Corp's portfolio, making the stock its 12th biggest holding. Vision Capital Corp's holdings in Digital Realty Trust were worth $8,450,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nvwm LLC boosted its position in Digital Realty Trust by 1.9% during the first quarter. Nvwm LLC now owns 3,287 shares of the real estate investment trust's stock valued at $471,000 after buying an additional 60 shares during the period. Hutchens & Kramer Investment Management Group LLC boosted its position in Digital Realty Trust by 3.2% during the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 2,145 shares of the real estate investment trust's stock valued at $307,000 after buying an additional 66 shares during the period. Probity Advisors Inc. boosted its position in Digital Realty Trust by 1.5% during the first quarter. Probity Advisors Inc. now owns 4,794 shares of the real estate investment trust's stock valued at $687,000 after buying an additional 70 shares during the period. Robbins Farley boosted its position in Digital Realty Trust by 0.7% during the first quarter. Robbins Farley now owns 10,956 shares of the real estate investment trust's stock valued at $1,570,000 after buying an additional 71 shares during the period. Finally, Colonial Trust Co SC boosted its position in Digital Realty Trust by 33.8% during the fourth quarter. Colonial Trust Co SC now owns 285 shares of the real estate investment trust's stock valued at $51,000 after buying an additional 72 shares during the period. Institutional investors own 99.71% of the company's stock.

Insider Buying and Selling at Digital Realty Trust

In other Digital Realty Trust news, Director Mark R. Patterson sold 175 shares of the firm'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 owned 6,522 shares of the company's stock, valued at approximately $1,151,133. This trade represents 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 accessible through this link. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

DLR has been the subject of several analyst reports. Mizuho upped their price target on shares of Digital Realty Trust from $177.00 to $191.00 and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Raymond James Financial upped their price target on shares of Digital Realty Trust from $190.00 to $205.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Digital Realty Trust from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Stifel Nicolaus upped their price objective on shares of Digital Realty Trust from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $193.00 price objective (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 given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $190.68.

Digital Realty Trust Trading Down 1.4%

DLR stock traded down $2.41 during trading on Thursday, reaching $166.17. The company had a trading volume of 1,313,018 shares, compared to its average volume of 1,467,827. Digital Realty Trust, Inc. has a 52 week low of $129.95 and a 52 week high of $198.00. The company has a market cap of $56.67 billion, a P/E ratio of 43.61, a PEG ratio of 4.85 and a beta of 0.92. The business has a 50 day moving average of $173.86 and a 200 day moving average of $163.48. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.22 and a quick ratio of 2.22.

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 (EPS) for the quarter, topping 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 prior year, the firm earned $1.65 earnings per share. Digital Realty Trust's revenue was up 10.0% on a year-over-year basis. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.9%. Digital Realty Trust's dividend payout ratio (DPR) is currently 128.08%.

Digital Realty Trust Company 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.