Hartford Investment Management Co. Lowers Position in Digital Realty Trust, Inc. (NYSE:DLR)

Posted by Defense World Staff on Mar 31st, 2023

Hartford Investment Management Co. cut its stake in Digital Realty Trust, Inc. (NYSE:DLR – Get Rating) by 23.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,790 shares of the real estate investment trust’s stock after selling 6,517 shares during the period. Hartford Investment Management Co.’s holdings in Digital Realty Trust were worth $2,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Neo Ivy Capital Management lifted its holdings in Digital Realty Trust by 116.4% in the third quarter. Neo Ivy Capital Management now owns 264 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 142 shares during the period. Guardian Wealth Advisors LLC bought a new position in shares of Digital Realty Trust during the third quarter valued at approximately $27,000. Affiance Financial LLC purchased a new position in shares of Digital Realty Trust during the fourth quarter valued at approximately $34,000. Godsey & Gibb Inc. purchased a new position in shares of Digital Realty Trust during the fourth quarter valued at approximately $35,000. Finally, CI Investments Inc. lifted its holdings in shares of Digital Realty Trust by 980.0% during the third quarter. CI Investments Inc. now owns 378 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 343 shares during the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DLR has been the subject of several recent research reports. BMO Capital Markets lowered shares of Digital Realty Trust from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $121.00 to $100.00 in a report on Monday. Wells Fargo & Company lowered shares of Digital Realty Trust from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $120.00 to $115.00 in a report on Wednesday, December 14th. Raymond James decreased their price objective on shares of Digital Realty Trust from $165.00 to $155.00 and set a “strong-buy” rating for the company in a report on Wednesday, February 8th. Credit Suisse Group decreased their price objective on shares of Digital Realty Trust from $81.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, February 17th. Finally, BNP Paribas started coverage on shares of Digital Realty Trust in a report on Wednesday, December 14th. They issued a “neutral” rating and a $128.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.86.

Digital Realty Trust Stock Up 1.2 %

DLR stock opened at $93.47 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.50 and a current ratio of 0.50. The business’s 50-day moving average is $106.07 and its two-hundred day moving average is $104.30. The company has a market cap of $27.23 billion, a price-to-earnings ratio of 81.99, a P/E/G ratio of 2.24 and a beta of 0.52. Digital Realty Trust, Inc. has a fifty-two week low of $85.76 and a fifty-two week high of $153.50.

Digital Realty Trust (NYSE:DLR – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.70). The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Digital Realty Trust had a return on equity of 2.46% and a net margin of 8.05%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. As a group, analysts forecast that Digital Realty Trust, Inc. will post 6.66 earnings per share for the current year.

Digital Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Tuesday, March 14th. Digital Realty Trust’s payout ratio is 428.07%.

Insiders Place Their Bets

In related news, EVP Dyer Corey sold 4,401 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $104.19, for a total transaction of $458,540.19. Following the completion of the sale, the executive vice president now owns 30,026 shares in the company, valued at $3,128,408.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Digital Realty Trust news, EVP Jeannie Lee sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the transaction, the executive vice president now owns 10,975 shares in the company, valued at approximately $1,262,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dyer Corey sold 4,401 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $104.19, for a total value of $458,540.19. Following the transaction, the executive vice president now owns 30,026 shares of the company’s stock, valued at approximately $3,128,408.94. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

About Digital Realty Trust

(Get Rating)

Digital Realty Trust, Inc operates as a real estate investment trust, which engages in the provision of data center, colocation and interconnection solutions. It serves the following industries: artificial intelligence (AI), networks, cloud, digital media, mobile, financial services, healthcare, and gaming.