Westpac Banking Corp Has $3.44 Million Stock Holdings in Digital Realty Trust, Inc. (NYSE:DLR)

Key Points

• Westpac Banking Corp reduced its stake in Digital Realty Trust by 6.5%, holding now 23,983 shares valued at approximately $3.44 million.
• Analysts have given Digital Realty Trust an average rating of "Moderate Buy" with a target price of $190.68, reflecting mixed sentiments with various ratings from several research firms.
• The company recently reported an earnings per share (EPS) of $1.87, beating the expected consensus, alongside a 10% year-over-year revenue increase to $1.49 billion.

Westpac Banking Corp lessened its position in shares of Digital Realty Trust, Inc. (NYSE:DLR - Free Report) by 6.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,983 shares of the real estate investment trust's stock after selling 1,666 shares during the quarter. Westpac Banking Corp's holdings in Digital Realty Trust were worth $3,437,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DLR. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Digital Realty Trust during the 1st quarter worth about $26,000. Key Financial Inc grew its stake in 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 worth $37,000 after buying an additional 138 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Digital Realty Trust in the first quarter worth $38,000. Grove Bank & Trust raised its stake in shares of Digital Realty Trust by 306.7% in the 1st 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 during the period. Finally, Alpine Bank Wealth Management purchased a new stake in Digital Realty Trust during the 1st quarter worth $49,000. 99.71% of the stock is owned by institutional investors and hedge funds.

Digital Realty Trust Stock Performance

Shares of NYSE:DLR traded down $2.41 during midday trading on Thursday, hitting $166.17. The company's stock had a trading volume of 1,313,018 shares, compared to its average volume of 2,101,110. The stock has a market capitalization of $56.67 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 4.87 and a beta of 0.92. The stock's 50 day simple moving average is $174.06 and its 200 day simple moving average is $163.47. Digital Realty Trust, Inc. has a fifty-two week low of $129.95 and a fifty-two week high of $198.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.22 and a current ratio of 2.22.

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, topping analysts' consensus estimates of $1.74 by $0.13. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.44 billion. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $1.65 earnings per share. As a group, research analysts anticipate that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The company 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 dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.88 annualized dividend and a dividend yield of 2.9%. Digital Realty Trust's dividend payout ratio (DPR) is presently 128.08%.

Insider Buying and Selling at Digital Realty Trust

In related news, Director Mark R. Patterson sold 175 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 6,522 shares of the company's stock, valued at $1,151,133. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DLR. Stifel Nicolaus upped their target price on Digital Realty Trust from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Truist Financial set a $199.00 price objective on Digital Realty Trust and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wells Fargo & Company increased their price target on Digital Realty Trust from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen upgraded Digital Realty Trust from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Finally, Guggenheim initiated coverage on Digital Realty Trust in a research report on Wednesday, July 9th. They issued a "neutral" rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $190.68.

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.