Credit Suisse Group started coverage on shares of Digital Realty Trust (NYSE:DLR) in a research report released on Wednesday, MarketBeat reports. The brokerage issued a neutral rating and a $95.00 price target on the real estate investment trust’s stock.
“We conclude that the company remains in transition, transitioning away from its older pure wholesale model. The Cloud Has Four Walls: Multi-tenant data centers are a pure play to capture the proliferation of the cloud, estimated by I.H.S. Markit to grow to a ~$21bn market at a ~9% CAGR over the coming five years, driven by accelerating data growth funneled from cloud providers Amazon Web Services, Google Cloud, Microsoft Azure, and IBM and lifted by enterprise IT spending trends as traditional enterprises move toward hybrid cloud IT infrastructures. Our 2018 Outlook highlights our industry views extensively. Valuation—Neutral, $95 Target Price: Our valuation is based on 2019E AFFO per share of $6.12 and 15.5x P/FY2 AFFO multiple – a valuation framework we apply to large capitalization and mature data center REITs. Risks: Key investment risks include technological disruption, market competition, rising interest rates, and REIT qualification loss.”,” Credit Suisse Group’s analyst wrote.
Several other research analysts have also commented on DLR. Robert W. Baird raised shares of Digital Realty Trust from a neutral rating to an outperform rating and set a $124.00 price objective for the company in a research note on Tuesday, January 16th. Citigroup reaffirmed a neutral rating and set a $127.00 price objective on shares of Digital Realty Trust in a research note on Tuesday, September 26th. KeyCorp reissued a buy rating and set a $130.00 target price on shares of Digital Realty Trust in a research note on Tuesday, September 26th. Royal Bank of Canada boosted their target price on shares of Digital Realty Trust from $127.00 to $133.00 and gave the company an outperform rating in a research note on Wednesday, October 4th. Finally, Deutsche Bank raised shares of Digital Realty Trust from a hold rating to a buy rating and set a $130.00 target price for the company in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Digital Realty Trust currently has an average rating of Buy and a consensus target price of $123.40.
Digital Realty Trust (NYSE DLR) traded up $0.34 during midday trading on Wednesday, reaching $107.30. 1,461,501 shares of the company’s stock traded hands, compared to its average volume of 1,145,691. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market capitalization of $22,044.03, a price-to-earnings ratio of 86.53, a price-to-earnings-growth ratio of 2.18 and a beta of -0.09. Digital Realty Trust has a 52 week low of $101.70 and a 52 week high of $127.23.
Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.51 EPS for the quarter, topping the consensus estimate of $0.40 by $1.11. The company had revenue of $609.90 million during the quarter, compared to analyst estimates of $595.49 million. Digital Realty Trust had a net margin of 11.71% and a return on equity of 5.15%. Digital Realty Trust’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 earnings per share. research analysts anticipate that Digital Realty Trust will post 6.1 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 15th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Thursday, December 14th. Digital Realty Trust’s dividend payout ratio is currently 300.00%.
Several institutional investors and hedge funds have recently modified their holdings of DLR. Carret Asset Management LLC raised its holdings in shares of Digital Realty Trust by 1.0% in the second quarter. Carret Asset Management LLC now owns 3,236 shares of the real estate investment trust’s stock valued at $366,000 after acquiring an additional 31 shares in the last quarter. Scotia Capital Inc. raised its holdings in shares of Digital Realty Trust by 1.7% in the second quarter. Scotia Capital Inc. now owns 10,399 shares of the real estate investment trust’s stock valued at $1,175,000 after acquiring an additional 170 shares in the last quarter. Albion Financial Group UT raised its holdings in shares of Digital Realty Trust by 1.3% in the second quarter. Albion Financial Group UT now owns 19,401 shares of the real estate investment trust’s stock valued at $2,191,000 after acquiring an additional 255 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Digital Realty Trust by 1.5% in the second quarter. Mutual of America Capital Management LLC now owns 19,340 shares of the real estate investment trust’s stock valued at $2,184,000 after acquiring an additional 292 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Digital Realty Trust by 1.2% in the second quarter. Lazard Asset Management LLC now owns 27,338 shares of the real estate investment trust’s stock valued at $3,087,000 after acquiring an additional 313 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.
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Digital Realty Trust Company Profile
Digital Realty Trust, Inc is a real estate investment trust (REIT). The Company is engaged in the business of owning, acquiring, developing and operating data centers. The Company is focused on providing data center and colocation solutions for domestic and international tenants across a range of industry verticals ranging from financial services, cloud and information technology services, to manufacturing, energy, healthcare and consumer products.
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