State of Michigan Retirement System Purchases 8,262 Shares of DIGITAL RLTY TR/SH (NYSE:DLR)

State of Michigan Retirement System boosted its position in DIGITAL RLTY TR/SH (NYSE:DLR) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,522 shares of the real estate investment trust’s stock after acquiring an additional 8,262 shares during the period. State of Michigan Retirement System’s holdings in DIGITAL RLTY TR/SH were worth $9,738,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Lucia Wealth Services LLC raised its holdings in shares of DIGITAL RLTY TR/SH by 1.4% during the second quarter. Lucia Wealth Services LLC now owns 4,858 shares of the real estate investment trust’s stock valued at $690,000 after acquiring an additional 66 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in shares of DIGITAL RLTY TR/SH by 3.1% during the 1st quarter. Jacobi Capital Management LLC now owns 2,290 shares of the real estate investment trust’s stock valued at $318,000 after purchasing an additional 69 shares in the last quarter. Commerce Bank boosted its stake in shares of DIGITAL RLTY TR/SH by 1.7% during the 1st quarter. Commerce Bank now owns 4,721 shares of the real estate investment trust’s stock valued at $655,000 after purchasing an additional 79 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in DIGITAL RLTY TR/SH by 1.1% in the first quarter. Avantax Advisory Services Inc. now owns 7,425 shares of the real estate investment trust’s stock worth $1,028,000 after buying an additional 81 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its stake in DIGITAL RLTY TR/SH by 12.3% in the first quarter. CSat Investment Advisory L.P. now owns 766 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 84 shares in the last quarter.

In related news, SVP Matt Mercier sold 1,511 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $144.74, for a total transaction of $218,702.14. Following the completion of the sale, the senior vice president now directly owns 1,606 shares in the company, valued at $232,452.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO A William Stein sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $145.00, for a total transaction of $3,625,000.00. Following the sale, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at $3,625,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,249 shares of company stock worth $13,113,723. Insiders own 0.61% of the company’s stock.

DIGITAL RLTY TR/SH stock opened at $160.54 on Friday. DIGITAL RLTY TR/SH has a 12 month low of $105.00 and a 12 month high of $165.49. The stock has a fifty day simple moving average of $144.39 and a two-hundred day simple moving average of $137.01. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.87. The firm has a market cap of $43.07 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 3.91 and a beta of 0.19.

DIGITAL RLTY TR/SH (NYSE:DLR) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $1.48 by ($1.28). DIGITAL RLTY TR/SH had a net margin of 20.57% and a return on equity of 7.45%. The business had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $931.10 million. On average, equities research analysts forecast that DIGITAL RLTY TR/SH will post 6.05 EPS for the current fiscal year.

A number of research analysts have weighed in on the company. Morgan Stanley started coverage on DIGITAL RLTY TR/SH in a report on Wednesday, June 24th. They set an “equal weight” rating and a $141.00 target price on the stock. Robert W. Baird cut DIGITAL RLTY TR/SH from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $142.00 to $144.00 in a research note on Monday, April 13th. Citigroup lowered DIGITAL RLTY TR/SH from a “buy” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research report on Monday, May 11th. Wells Fargo & Co reaffirmed a “buy” rating on shares of DIGITAL RLTY TR/SH in a research report on Friday, May 8th. Finally, SunTrust Banks increased their price target on shares of DIGITAL RLTY TR/SH from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $151.13.

About DIGITAL RLTY TR/SH

Digital Realty supports the data center, colocation and interconnection strategies of more than 2,300 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products.

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Institutional Ownership by Quarter for DIGITAL RLTY TR/SH (NYSE:DLR)

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