Digital Realty Trust (DLR) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $1.39. The company posted revenue of $514.90 million in the period, compared to analysts expectations of $513.47 million. The company’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS.
Many Wall Street Analysts have commented on Digital Realty Trust. Digital Realty Trust was Downgraded by Jefferies to ” Hold” on Jul 19, 2016. Digital Realty Trust was Initiated by Wells Fargo to “Outperform” on Jun 1, 2016. Company shares were Reiterated by RBC Capital Mkts on May 13, 2016 to “Outperform”, Firm has raised the Price Target to $ 105 from a previous price target of $89 .
Digital Realty Trust opened for trading at $105.59 and hit $108.12 on the upside on Thursday, eventually ending the session at $107.69, with a gain of 2.18% or 2.3 points. The heightened volatility saw the trading volume jump to 16,61,982 shares. Company has a market cap of $15,811 M.
In a different news, on Jul 18, 2016, Edward F Sham (Sr. Vice President, Controller) purchased 113 shares at $63.68 per share price. According to the SEC, on May 6, 2016, Bernard Geoghegan (Managing Director, EMEA & APAC) sold 586 shares at $90.70 per share price. On May 6, 2016, A William Stein (Chief Executive Officer) sold 16,017 shares at $89.32 per share price, according to the Form-4 filing with the securities and exchange commission.
Digital Realty Trust Inc. is a real estate investment trust (REIT) that owns acquires develops and manages technology-related real estate. The Companys services include implementation services remote hands services data center infrastructure management (DCIM) client services and digital realty partner network. The Company is a sole general partner of Digital Realty Trust L.P. As of December 31 2014 Digital Realty Trust Inc. owned 97.8% common general partnership interest in Digital Realty Trust L.P. The remaining 2.2% common limited partnership interests are owned by non-affiliated investors and certain directors and officers of Digital Realty Trust Inc. The Company focuses on strategically located properties containing applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter users including the information technology (IT) departments of Fortune 100 and financial services companies.