Synovus Financial Corp Reduces Stock Position in Digital Realty Trust, Inc. $DLR

Synovus Financial Corp cut its holdings in Digital Realty Trust, Inc. (NYSE:DLR) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,402 shares of the real estate investment trust’s stock after selling 190 shares during the period. Synovus Financial Corp’s holdings in Digital Realty Trust were worth $774,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Greykasell Wealth Strategies Inc. bought a new position in shares of Digital Realty Trust in the 1st quarter valued at about $26,000. Key Financial Inc lifted its holdings in shares of Digital Realty Trust by 114.0% in the 1st quarter. Key Financial Inc now owns 259 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 138 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Digital Realty Trust in the 1st quarter valued at about $38,000. GKV Capital Management Co. Inc. bought a new position in shares of Digital Realty Trust in the 1st quarter valued at about $38,000. Finally, Grove Bank & Trust lifted its holdings in shares of Digital Realty Trust by 306.7% in the 1st quarter. Grove Bank & Trust now owns 305 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark R. Patterson sold 175 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $176.50, for a total value of $30,887.50. Following the completion of the sale, the director directly owned 6,522 shares of the company’s stock, valued at $1,151,133. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DLR shares. Wall Street Zen upgraded shares of Digital Realty Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Mizuho boosted their price objective on shares of Digital Realty Trust from $177.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, June 17th. Citigroup reiterated a “buy” rating on shares of Digital Realty Trust in a research report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Digital Realty Trust from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Oppenheimer started coverage on shares of Digital Realty Trust in a research report on Wednesday, May 14th. They set an “outperform” rating and a $200.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.74.

Digital Realty Trust Stock Up 1.2%

Shares of DLR opened at $169.99 on Thursday. The firm has a market capitalization of $57.97 billion, a P/E ratio of 44.62, a P/E/G ratio of 4.83 and a beta of 0.92. Digital Realty Trust, Inc. has a 12-month low of $129.95 and a 12-month high of $198.00. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $172.10 and a 200-day moving average price of $163.60.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.13. Digital Realty Trust had a net margin of 23.98% and a return on equity of 6.46%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Digital Realty Trust has set its FY 2025 guidance at 7.150-7.250 EPS. Equities research analysts expect that Digital Realty Trust, Inc. will post 7.07 earnings per share for the current year.

Digital Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.88 dividend on an annualized basis and a yield of 2.9%. Digital Realty Trust’s dividend payout ratio is 128.08%.

Digital Realty Trust Company Profile

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.