Digital Realty Trust, Inc. (NYSE:DLR) Lowered to Hold at Zacks Investment Research

Digital Realty Trust, Inc. (NYSE:DLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, October 31st.

According to Zacks, “Shares of Digital Realty outperformed the industry it belongs to, year to date. However, the stock has seen the Zacks Consensus Estimate for fourth-quarter 2017 FFO per share being revised downward in a week’s time. Notably, Digital Realty’s third-quarter 2017 core funds from operations (FFO) per share of $1.51 exceeded the Zacks Consensus Estimate of $1.49. Results were supported by growth in revenues. Recently, the company announced a 50/50 joint venture for offering data-center solutions in Japan. Also, in September, the company announced the completion of a merger with DuPont Fabros. The company is well poised for growth, backed by robust fundamentals of the data-center market. Accretive acquisitions, development efforts and solid balance sheet augur well for long-term growth. However, cut-throat competition in the industry and interest rate hike remains concerns.”

A number of other analysts also recently issued reports on DLR. Macquarie reaffirmed a “neutral” rating and set a $105.00 price target on shares of Digital Realty Trust in a report on Tuesday, July 4th. BidaskClub cut Digital Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Jefferies Group LLC reissued a “hold” rating and set a $120.00 price target on shares of Digital Realty Trust in a research note on Friday, July 14th. Stifel Nicolaus reissued a “hold” rating and set a $117.00 price target on shares of Digital Realty Trust in a research note on Friday, July 21st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $127.00 target price on shares of Digital Realty Trust in a research note on Friday, August 18th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Digital Realty Trust has a consensus rating of “Hold” and an average target price of $125.43.

Digital Realty Trust (NYSE:DLR) traded down $2.16 on Tuesday, hitting $118.11. The stock had a trading volume of 798,878 shares, compared to its average volume of 1,207,132. The stock has a market capitalization of $24,264.76, a price-to-earnings ratio of 19.75, a P/E/G ratio of 3.02 and a beta of -0.09. Digital Realty Trust has a 1-year low of $86.70 and a 1-year high of $127.23. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.46 and a current ratio of 0.46.

Digital Realty Trust (NYSE:DLR) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $1.11. The firm had revenue of $609.90 million during the quarter, compared to analyst estimates of $595.49 million. Digital Realty Trust had a return on equity of 5.15% and a net margin of 11.71%. Digital Realty Trust’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.44 earnings per share. research analysts expect that Digital Realty Trust will post 6.09 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in DLR. Cohen & Steers Inc. raised its holdings in Digital Realty Trust by 100.4% in the 3rd quarter. Cohen & Steers Inc. now owns 13,229,368 shares of the real estate investment trust’s stock worth $1,565,431,000 after acquiring an additional 6,626,871 shares during the period. Daiwa Securities Group Inc. grew its position in Digital Realty Trust by 41.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 6,474,187 shares of the real estate investment trust’s stock worth $766,091,000 after purchasing an additional 1,897,642 shares during the last quarter. AEW Capital Management L P grew its position in Digital Realty Trust by 295.4% in the 3rd quarter. AEW Capital Management L P now owns 1,580,668 shares of the real estate investment trust’s stock worth $187,040,000 after purchasing an additional 1,180,868 shares during the last quarter. Principal Financial Group Inc. grew its position in Digital Realty Trust by 171.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,645,291 shares of the real estate investment trust’s stock worth $185,835,000 after purchasing an additional 1,039,244 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Digital Realty Trust by 79.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,332,689 shares of the real estate investment trust’s stock worth $276,860,000 after purchasing an additional 1,032,004 shares during the last quarter.

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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Analyst Recommendations for Digital Realty Trust (NYSE:DLR)

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