State of Michigan Retirement System increases stake in Digital Realty Trust, Inc. (NYSE:DLR)

State of Michigan Retirement System boosted its position in shares of Digital Realty Trust, Inc. (NYSE:DLR – Free Report) by 7.1% during the second quarter, HoldingsChannel.com reports. The fund owned 88,881 shares of the real estate investment trust’s stock after acquiring an additional 5,900 shares during the quarter. State of Michigan Retirement System’s holdings in Digital Realty Trust were worth $13,514,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Digital Realty Trust during the fourth quarter valued at approximately $2,141,890,000. Vanguard Group Inc. boosted its holdings in Digital Realty Trust by 2.0% in the first quarter. Vanguard Group Inc. now owns 48,503,593 shares of the real estate investment trust’s stock worth $6,986,458,000 after purchasing an additional 951,567 shares during the last quarter. Balyasny Asset Management LP acquired a new stake in Digital Realty Trust during the fourth quarter valued at $107,372,000. Kodai Capital Management LP purchased a new position in shares of Digital Realty Trust in the 4th quarter valued at approximately $59,087,000. Finally, Russell Investments Group Ltd. boosted its holdings in Digital Realty Trust by 13.6% during the fourth quarter. Russell Investments Group Ltd. now owns 2,118,834 shares of the real estate investment trust’s stock valued at $285,513,000 after purchasing an additional 253,755 shares in the last quarter. 99.71% of the shares are currently held by hedge funds and other institutional investors.

Insider activity at Digital Realty Trust

In related news, Director Jean FHP Mandeville sold 600 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the completion of the sale, the director now owns 9,055 shares of the company’s stock, valued at $1,360,604.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. 0.17% of shares are currently owned by insiders.

Digital Realty Trust stock fell 1.0%

Shares of DLR stock opened at $149.15 on Tuesday. The company has a market cap of $46.60 billion, a P/E ratio of 41.83, a PEG ratio of 10.97 and a beta of 0.59. The firm has a 50-day simple moving average of $151.08 and a 200-day simple moving average of $145.79. The company has a current ratio of 1.78, a quick ratio of 1.29, and a debt-to-equity ratio of 0.81. Digital Realty Trust, Inc. has a 12-month low of $113.94 and a 12-month high of $162.58.

Digital Realty Trust (NYSE:DLR – Get Free Report ) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $1.63 by ($1.43). Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company posted earnings of $1.68 per share. The company’s revenue for the quarter was down 0.7% compared to the same quarter last year. On average, equities research analysts predict that Digital Realty Trust, Inc. will post 6.67 earnings per share for the current fiscal year.

Digital Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.22 per share. The ex-dividend date is Friday, September 13. This represents an annualized dividend of $4.88 and a dividend yield of 3.27%. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Analyst upgrades and downgrades

Several research firms have recently commented on DLR. Mizuho began coverage on Digital Realty Trust in a research note on Thursday, July 11th. They issued an “outperform” rating and a $170.00 price objective for the company. Goldman Sachs Group assumed coverage on shares of Digital Realty Trust in a research note on Monday, July 1st. They issued a “buy” rating and a $175.00 target price on the stock. JPMorgan Chase & Co. raised Digital Realty Trust from a “neutral” rating to an “overweight” rating and upped their target price for the company from $150.00 to $175.00 in a research report on Friday, June 28th. Truist Financial boosted their price target on Digital Realty Trust from $160.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus upped their target price on Digital Realty Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Digital Realty Trust currently has an average rating of “Hold” and an average price target of $154.00, according to MarketBeat .

Read the latest stock analysis on DLR

Digital Realty Trust Company Profile

(Free Report)

Digital Realty brings businesses and data together by providing the full spectrum of data center, colocation and interconnect solutions. PlatformDIGITAL, the company’s global data center platform, provides customers with a secure meeting place for data and a proven Pervasive Datacenter Architecture (PDx) solution methodology to drive innovation and effectively manage Data Gravity challenges.

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