Morgan Stanley Initiates Coverage on Digital Realty Trust (NYSE:DLR)

Key Points

• Morgan Stanley has initiated coverage on Digital Realty Trust (NYSE:DLR) with an "equal weight" rating and a price target of $195.00, indicating a potential upside of 11.25%.
• The consensus from analysts includes two Strong Buy ratings, sixteen Buy ratings, and a current average price target of $191.25 for the stock.
• Digital Realty Trust reported quarterly earnings of $1.87 per share, surpassing estimates, with a notable year-over-year revenue increase of 10%.

Morgan Stanley initiated coverage on shares of Digital Realty Trust (NYSE:DLR - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set an "equal weight" rating and a $195.00 price target on the real estate investment trust's stock. Morgan Stanley's price target would indicate a potential upside of 11.25% from the company's previous close.

A number of other research firms have also recently weighed in on DLR. Raymond James Financial raised their price objective on Digital Realty Trust from $190.00 to $205.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Digital Realty Trust in a research report on Wednesday, October 8th. Barclays raised their price objective on Digital Realty Trust from $140.00 to $141.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. Guggenheim initiated coverage on Digital Realty Trust in a research report on Wednesday, July 9th. They set a "neutral" rating for the company. Finally, Moffett Nathanson lifted their price target on Digital Realty Trust from $163.00 to $166.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $191.25.

Digital Realty Trust Trading Up 2.0%

Shares of NYSE:DLR opened at $175.29 on Thursday. Digital Realty Trust has a 12-month low of $129.95 and a 12-month high of $198.00. The business's fifty day simple moving average is $169.90 and its 200-day simple moving average is $167.27. The company has a market capitalization of $59.78 billion, a PE ratio of 46.01, a P/E/G ratio of 4.84 and a beta of 0.96. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.82.

Digital Realty Trust (NYSE:DLR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.44 billion. Digital Realty Trust had a return on equity of 6.46% and a net margin of 23.98%.The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. As a group, equities research analysts predict that Digital Realty Trust will post 7.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Digital Realty Trust

In related news, CEO Andrew Power sold 53,269 shares of Digital Realty Trust stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $175.16, for a total value of $9,330,598.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Digital Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Digital Realty Trust by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 52,892,557 shares of the real estate investment trust's stock worth $9,220,759,000 after buying an additional 513,697 shares in the last quarter. Norges Bank purchased a new stake in Digital Realty Trust during the 2nd quarter worth approximately $3,808,270,000. State Street Corp increased its stake in Digital Realty Trust by 1.9% during the 2nd quarter. State Street Corp now owns 20,405,760 shares of the real estate investment trust's stock worth $3,557,336,000 after buying an additional 376,699 shares in the last quarter. Geode Capital Management LLC increased its stake in Digital Realty Trust by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 8,850,818 shares of the real estate investment trust's stock worth $1,536,795,000 after buying an additional 196,579 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Digital Realty Trust by 3.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,356,429 shares of the real estate investment trust's stock worth $1,282,446,000 after buying an additional 211,692 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.