Grassi Investment Management Decreases Stock Position in Digital Realty Trust, Inc. (NYSE:DLR)

Grassi Investment Management reduced its holdings in shares of Digital Realty Trust, Inc. (NYSE:DLR) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 56,960 shares of the real estate investment trust’s stock after selling 920 shares during the period. Grassi Investment Management’s holdings in Digital Realty Trust were worth $6,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in Digital Realty Trust by 0.7% in the first quarter. BlackRock Inc. now owns 27,569,868 shares of the real estate investment trust’s stock worth $2,710,394,000 after buying an additional 185,845 shares during the period. State Street Corp boosted its stake in Digital Realty Trust by 0.5% during the first quarter. State Street Corp now owns 20,131,762 shares of the real estate investment trust’s stock valued at $1,979,148,000 after buying an additional 96,038 shares in the last quarter. APG Asset Management US Inc. boosted its position in shares of Digital Realty Trust by 0.3% in the 1st quarter. APG Asset Management US Inc. now owns 10,020,960 shares of the real estate investment trust’s stock valued at $985,161,000 after purchasing an additional 26,148 shares during the period. Principal Financial Group Inc. boosted its position in shares of Digital Realty Trust by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 7,170,504 shares of the real estate investment trust’s stock valued at $704,925,000 after purchasing an additional 176,565 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Digital Realty Trust by 13.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,100,440 shares of the real estate investment trust’s stock valued at $599,734,000 after purchasing an additional 715,291 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DLR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered Digital Realty Trust from a “buy” rating to a “hold” rating and raised their price objective for the stock from $112.00 to $131.00 in a research report on Friday, August 25th. Royal Bank of Canada raised their price objective on Digital Realty Trust from $125.00 to $140.00 and gave the company an “outperformer” rating in a research note on Monday, August 7th. Citigroup raised their target price on Digital Realty Trust from $128.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Raymond James decreased their price objective on Digital Realty Trust from $155.00 to $140.00 in a report on Friday, July 28th. Finally, Jefferies Financial Group boosted their price target on Digital Realty Trust from $132.00 to $144.00 in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Digital Realty Trust has an average rating of “Hold” and an average price target of $120.93.

Insider Buying and Selling

In related news, insider Cindy Fiedelman sold 2,770 shares of Digital Realty Trust stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $125.00, for a total value of $346,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by insiders.

Digital Realty Trust Price Performance

DLR stock opened at $128.75 on Monday. The company has a market capitalization of $38.97 billion, a P/E ratio of 99.81, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.58 and a current ratio of 0.58. Digital Realty Trust, Inc. has a 52-week low of $85.76 and a 52-week high of $133.39. The business has a 50-day simple moving average of $123.60 and a two-hundred day simple moving average of $108.33.

Digital Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.79%. Digital Realty Trust’s payout ratio is presently 378.30%.

Digital Realty Trust Profile

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.