JPMorgan Chase & Co. Raises Digital Realty Trust (NYSE:DLR) Price Target to $180.00

Digital Realty Trust (NYSE:DLR) had its price objective boosted by analysts at JPMorgan Chase & Co. from $175.00 to $180.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 11.95% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group assumed coverage on shares of Digital Realty Trust in a research report on Monday, July 1st. They set a “buy” rating and a $175.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Digital Realty Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Barclays raised their price objective on shares of Digital Realty Trust from $123.00 to $130.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. TD Cowen lowered their price objective on shares of Digital Realty Trust from $122.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. Finally, BMO Capital Markets upgraded shares of Digital Realty Trust from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $144.00 to $170.00 in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Digital Realty Trust presently has a consensus rating of “Hold” and an average price target of $154.28.

Digital Realty Trust Price Performance

NYSE:DLR traded down $1.04 during trading hours on Tuesday, hitting $160.79. The stock had a trading volume of 610,446 shares, compared to its average volume of 1,851,521. The company has a 50 day simple moving average of $152.69 and a two-hundred day simple moving average of $147.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78. Digital Realty Trust has a one year low of $113.94 and a one year high of $165.17. The firm has a market capitalization of $50.24 billion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 5.14 and a beta of 0.60.

Digital Realty Trust (NYSE:DLR) last announced its quarterly 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 firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts forecast that Digital Realty Trust will post 6.65 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jean F. H. P. Mandeville sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.26, for a total transaction of $90,156.00. Following the completion of the transaction, the director now directly 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 can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DLR. Meeder Asset Management Inc. purchased a new stake in Digital Realty Trust during the second quarter valued at approximately $25,000. American Capital Advisory LLC purchased a new stake in Digital Realty Trust during the second quarter valued at approximately $27,000. Private Ocean LLC purchased a new stake in Digital Realty Trust during the second quarter valued at approximately $27,000. Gradient Investments LLC increased its holdings in Digital Realty Trust by 75.2% during the second quarter. Gradient Investments LLC now owns 177 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 76 shares during the last quarter. Finally, Rise Advisors LLC increased its holdings in Digital Realty Trust by 1,125.0% during the first quarter. Rise Advisors LLC now owns 196 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 180 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

About Digital Realty Trust

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation and efficiently managing Data Gravity challenges.