Digital Realty Trust (NYSE:DLR) Stock Rating Upgraded by Canadian Imperial Bank of Commerce

Digital Realty Trust (NYSE:DLR) was upgraded by investment analysts at Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other analysts also recently issued reports on DLR. Weiss Ratings downgraded Digital Realty Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Rothschild & Co Redburn initiated coverage on Digital Realty Trust in a report on Monday, September 21st. They issued a “buy” rating and a $227.00 price objective on the stock. HSBC dropped their price objective on Digital Realty Trust from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Mizuho set a $223.00 target price on Digital Realty Trust in a research report on Monday, August 10th. Finally, TD Cowen upgraded Digital Realty Trust from a “hold” rating to a “buy” rating and boosted their target price for the stock from $192.00 to $222.00 in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.78.

Digital Realty Trust Stock Performance

Shares of DLR stock opened at $170.72 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $183.43 and a 200 day moving average price of $187.03. The company has a market cap of $63.34 billion, a P/E ratio of 82.87, a PEG ratio of 3.38 and a beta of 0.99. Digital Realty Trust has a 12 month low of $146.23 and a 12 month high of $208.14.

Digital Realty Trust (NYSE:DLR) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $1.21 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.77). Digital Realty Trust had a net margin of 11.80% and a return on equity of 3.34%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company earned $1.87 EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. Sell-side analysts predict that Digital Realty Trust will post 8.40 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Patterson sold 200 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $193.96, for a total value of $38,792.00. Following the transaction, the director owned 6,322 shares in the company, valued at $1,226,215.12. The trade was a 3.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Digital Realty Trust

A number of institutional investors have recently added to or reduced their stakes in DLR. BlackRock Inc. acquired a new position in Digital Realty Trust during the second quarter worth $7,277,032,000. Bank of America Corp DE lifted its holdings in Digital Realty Trust by 6.0% in the first quarter. Bank of America Corp DE now owns 9,470,695 shares of the real estate investment trust’s stock valued at $1,706,714,000 after acquiring an additional 534,158 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Digital Realty Trust in the second quarter valued at $1,178,095,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Digital Realty Trust by 17,256.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,890,993 shares of the real estate investment trust’s stock valued at $878,325,000 after acquiring an additional 4,862,814 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Digital Realty Trust by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,850,416 shares of the real estate investment trust’s stock worth $874,046,000 after purchasing an additional 35,850 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Digital Realty Trust Company Profile

Digital Realty Trust, Inc is a real estate investment trust that owns, operates and develops data center facilities for businesses, cloud service providers, information technology companies and telecommunications organizations. The company provides the physical infrastructure needed to support data storage, networking, cloud computing and other digital operations.

Its services include data center colocation, interconnection and private connectivity solutions. Digital Realty also offers access to cloud and network providers through its PlatformDIGITAL platform, which is designed to help customers deploy, connect and manage their digital infrastructure across multiple locations.

Founded in 2001, Digital Realty serves customers through a global portfolio of data centers and related facilities across North America, Europe, Asia-Pacific and Latin America.