DnB Asset Management Increases Stake in Digital Realty Trust

Summary: In a recent report released on September 17, 2023, it was revealed that DnB Asset Management AS has increased its stake in Digital Realty Trust, Inc. 15.4% during the second quarter. The company now owns 63,048 shares of the real estate investment trust’s stock, after acquiring an additional 8,409 shares. The holding is valued at $7,179,000.

Digital Realty Trust, a real estate investment trust, has also announced its quarterly dividend. Stockholders of record as of September 15th will receive a dividend of $1.22 per share. The ex-dividend date is September 14th. The dividend payout ratio currently stands at an unusually high level of 378.30%.

Several analysts have issued reports on Digital Realty Trust. StockNews.com initiated coverage on the stock and gave it a “sell” rating on August 17th. Citigroup raised their target price to $136.00 and assigned a “buy” rating on August 22nd. Deutsche Bank Aktiengesellschaft downgraded the stock from a “buy” rating to a “hold” rating, raising their target price to $131.00 on August 25th.

Raymond James lowered their target price to $140.00 in their research report dated July 28th. Royal Bank of Canada also increased their target price to $140.00 and labeled it an “outperformer” in their research report on August 7th.

Overall, the consensus among analysts is mixed, with three analysts rating the stock as a sell, five analysts assigning a hold rating, three analysts giving a buy rating, and one analyst providing a strong buy rating. Digital Realty Trust has an average rating of “Hold” and an average price target of $120.93 according to Bloomberg.

It is important to note that this information is accurate as of September 17, 2023. Investors are advised to conduct further research as ratings and target prices may change over time.

Definitions:
– Stake: The amount of ownership or interest that an investor has in a company.
– Real estate investment trust (REIT): A company that owns, operates, or finances income-generating real estate.
– Dividend: A payment made a company to its shareholders, usually as a share of the company’s profits.
– Ex-dividend date: The first day that a buyer of a stock is not entitled to receive the next dividend payment.

Sources:
– Securities and Exchange Commission (SEC)
– Bloomberg