Principal Financial Group Inc. Has $561.26 Million Holdings in Digital Realty Trust, Inc. (NYSE:DLR)

Principal Financial Group Inc. reduced its position in shares of Digital Realty Trust, Inc. (NYSE:DLR) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,916,933 shares of the real estate investment trust’s stock after selling 33,304 shares during the period. Principal Financial Group Inc.’s holdings in Digital Realty Trust were worth $561,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Digital Realty Trust during the fourth quarter worth $35,000. Opal Wealth Advisors LLC acquired a new stake in Digital Realty Trust in the 1st quarter worth about $38,000. SRS Capital Advisors Inc. boosted its holdings in Digital Realty Trust by 502.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 241 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 201 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Digital Realty Trust during the 4th quarter worth approximately $43,000. Finally, Grove Bank & Trust increased its holdings in shares of Digital Realty Trust by 306.7% during the first quarter. Grove Bank & Trust now owns 305 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 230 shares during the period. 99.71% of the stock is currently owned by institutional investors.

Digital Realty Trust Price Performance

DLR stock opened at $172.20 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.92 and a current ratio of 1.92. Digital Realty Trust, Inc. has a 52-week low of $129.95 and a 52-week high of $198.00. The company has a market capitalization of $58.00 billion, a P/E ratio of 160.93, a PEG ratio of 2.60 and a beta of 0.95. The company has a fifty day moving average price of $170.22 and a 200-day moving average price of $164.63.

Digital Realty Trust (NYSE:DLR) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.04. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Digital Realty Trust had a return on equity of 2.07% and a net margin of 7.65%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 EPS. As a group, equities analysts expect that Digital Realty Trust, Inc. will post 7.07 EPS for the current year.

Digital Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.88 annualized dividend and a yield of 2.83%. Digital Realty Trust’s payout ratio is 456.07%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DLR. Mizuho boosted their price target on Digital Realty Trust from $177.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, June 17th. Scotiabank cut their target price on Digital Realty Trust from $208.00 to $206.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 22nd. New Street Research upgraded Digital Realty Trust to a “hold” rating in a research report on Monday, April 28th. Oppenheimer started coverage on Digital Realty Trust in a research note on Wednesday, May 14th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $220.00 price objective on shares of Digital Realty Trust in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.16.

Insider Activity

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

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.