Chase Investment Counsel Corp Makes New $2.93 Million Investment in Digital Realty Trust, Inc. (NYSE:DLR)

Chase Investment Counsel Corp bought a new position in Digital Realty Trust, Inc. (NYSE:DLR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,580 shares of the real estate investment trust’s stock, valued at approximately $2,927,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in Digital Realty Trust by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 587,561 shares of the real estate investment trust’s stock worth $79,074,000 after acquiring an additional 9,158 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Digital Realty Trust by 102.1% during the first quarter. Bessemer Group Inc. now owns 19,528 shares of the real estate investment trust’s stock valued at $2,813,000 after purchasing an additional 9,865 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Digital Realty Trust by 295.5% in the first quarter. Cetera Investment Advisers now owns 31,665 shares of the real estate investment trust’s stock valued at $4,561,000 after purchasing an additional 23,659 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in Digital Realty Trust during the 4th quarter worth $3,167,000. Finally, Sun Life Financial Inc. bought a new position in Digital Realty Trust in the 4th quarter valued at $20,978,000. Institutional investors own 99.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DLR. Mizuho started coverage on Digital Realty Trust in a research report on Thursday, July 11th. They set an “outperform” rating and a $170.00 target price for the company. Barclays upped their target price 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. Royal Bank of Canada lifted their price target on shares of Digital Realty Trust from $144.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. TD Cowen cut 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 report on Friday, July 26th. Finally, Truist Financial upped their target price on shares of Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Digital Realty Trust currently has an average rating of “Hold” and an average target price of $154.00.

Insider Activity

In other news, Director Jean F. H. P. Mandeville sold 600 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.26, for a total value of $90,156.00. Following the completion of the transaction, the director now directly owns 9,055 shares in the company, valued at approximately $1,360,604.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Digital Realty Trust Price Performance

NYSE:DLR opened at $161.16 on Monday. Digital Realty Trust, Inc. has a 52 week low of $113.94 and a 52 week high of $165.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.78. The firm’s 50-day simple moving average is $152.56 and its 200 day simple moving average is $147.81. The firm has a market cap of $50.35 billion, a price-to-earnings ratio of 44.77, a P/E/G ratio of 5.14 and a beta of 0.60.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 earnings per share. As a group, sell-side analysts predict that Digital Realty Trust, Inc. will post 6.65 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, September 13th. Digital Realty Trust’s dividend payout ratio is presently 135.56%.

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.