Synovus Financial Corp trimmed its stake in Digital Realty Trust, Inc. (NYSE:DLR – Get Rating) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,588 shares of the real estate investment trust’s stock after selling 672 shares during the period. Synovus Financial Corp’s holdings in Digital Realty Trust were worth $259,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in DLR. Neo Ivy Capital Management boosted its holdings in shares of Digital Realty Trust by 116.4% in the 3rd quarter. Neo Ivy Capital Management now owns 264 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 142 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Digital Realty Trust during the fourth quarter worth $26,000. Guardian Wealth Advisors LLC purchased a new stake in shares of Digital Realty Trust during the 3rd quarter valued at $27,000. Affiance Financial LLC purchased a new position in Digital Realty Trust during the 4th quarter worth $34,000. Finally, Godsey & Gibb Inc. acquired a new position in Digital Realty Trust during the 4th quarter valued at about $35,000. 95.00% of the stock is owned by institutional investors.
Insider Transactions at Digital Realty Trust
In other news, EVP Dyer Corey sold 4,401 shares of the firm’s stock in a transaction dated 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 directly owns 30,026 shares of the company’s stock, valued at $3,128,408.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.
Digital Realty Trust Stock Down 2.2 %
Digital Realty Trust (NYSE:DLR – Get Rating) last announced its earnings results on Thursday, April 27th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($1.46). Digital Realty Trust had a net margin of 7.61% and a return on equity of 2.34%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $1.67 EPS. Digital Realty Trust’s revenue was up 18.8% compared to the same quarter last year. Equities analysts predict that Digital Realty Trust, Inc. will post 6.71 EPS for the current fiscal year.
Digital Realty Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were paid a dividend of $1.22 per share. The ex-dividend date was Tuesday, March 14th. This represents a $4.88 annualized dividend and a yield of 5.15%. Digital Realty Trust’s dividend payout ratio (DPR) is presently 439.64%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on DLR. Citigroup upped their price objective on shares of Digital Realty Trust from $119.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 6th. StockNews.com assumed coverage on shares of Digital Realty Trust in a report on Thursday, March 16th. They issued a “sell” rating for the company. Raymond James reduced their target price on Digital Realty Trust from $165.00 to $155.00 and set a “strong-buy” rating for the company in a research note on Wednesday, February 8th. Credit Suisse Group cut their price objective on Digital Realty Trust from $81.00 to $80.00 and set an “underperform” rating on the stock in a report on Friday, February 17th. Finally, Barclays increased their price objective on Digital Realty Trust from $79.00 to $80.00 in a report on Monday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Digital Realty Trust currently has a consensus rating of “Hold” and an average price target of $116.92.
About Digital Realty Trust
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.
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