Lord Abbett & CO. LLC Buys New Stake in Digital Realty Trust, Inc. (DLR)

Lord Abbett & CO. LLC bought a new position in shares of Digital Realty Trust, Inc. (NYSE:DLR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 66,400 shares of the real estate investment trust’s stock, valued at approximately $7,500,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DLR. Northwestern Mutual Wealth Management Co. boosted its position in Digital Realty Trust by 50.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 973 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 328 shares in the last quarter. Parallel Advisors LLC boosted its position in Digital Realty Trust by 18.0% during the second quarter. Parallel Advisors LLC now owns 972 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 148 shares in the last quarter. Sun Life Financial INC boosted its position in Digital Realty Trust by 12,844.4% during the second quarter. Sun Life Financial INC now owns 1,165 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 1,156 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in Digital Realty Trust during the second quarter worth $134,000. Finally, Security National Trust Co. purchased a new stake in Digital Realty Trust during the second quarter worth $164,000.

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A number of analysts have commented on the company. ValuEngine downgraded Digital Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Cowen and Company reiterated a “buy” rating and set a $126.00 target price on shares of Digital Realty Trust in a research report on Friday, August 25th. KeyCorp reiterated a “buy” rating and set a $130.00 target price on shares of Digital Realty Trust in a research report on Friday, August 25th. Zacks Investment Research downgraded Digital Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada boosted their target price on Digital Realty Trust from $127.00 to $133.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $124.20.

In other news, insider Christopher Sharp sold 25,733 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $116.44, for a total value of $2,996,350.52. Following the completion of the sale, the insider now owns 25,733 shares of the company’s stock, valued at $2,996,350.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William G. Laperch acquired 1,200 shares of Digital Realty Trust stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average cost of $25.00 per share, with a total value of $30,000.00. Following the transaction, the director now owns 1,200 shares of the company’s stock, valued at approximately $30,000. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.

Digital Realty Trust, Inc. (NYSE:DLR) opened at 116.55 on Friday. The stock has a market capitalization of $18.90 billion, a P/E ratio of 47.34 and a beta of 0.01. Digital Realty Trust, Inc. has a 52-week low of $85.63 and a 52-week high of $127.23. The company’s 50-day moving average price is $119.27 and its 200 day moving average price is $116.08.

Digital Realty Trust (NYSE:DLR) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $1.11. The business had revenue of $609.90 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted $1.44 earnings per share. On average, equities research analysts anticipate that Digital Realty Trust, Inc. will post $1.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.93 dividend. The ex-dividend date was Thursday, September 14th. This represents a $3.72 annualized dividend and a dividend yield of 3.19%. Digital Realty Trust’s dividend payout ratio (DPR) is presently 300.00%.

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.

Institutional Ownership by Quarter for Digital Realty Trust (NYSE:DLR)

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