Confluence Investment Management Lowers stake in Digital Realty Trust (DLR)

Digital Realty Trust (DLR) : Confluence Investment Management reduced its stake in Digital Realty Trust by 33.56% during the most recent quarter end. The investment management company now holds a total of 333,127 shares of Digital Realty Trust which is valued at $35,108,255 after selling 168,301 shares in Digital Realty Trust , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Digital Realty Trust makes up approximately 0.94% of Confluence Investment Management’s portfolio.

Other Hedge Funds, Including , Rothschild Capital Partners sold out all of its stake in DLR during the most recent quarter. The investment firm sold 16,666 shares of DLR which is valued $1,756,430. Louisiana State Employees Retirement System added DLR to its portfolio by purchasing 9,600 company shares during the most recent quarter which is valued at $1,011,744. Digital Realty Trust makes up approx 0.05% of Louisiana State Employees Retirement System’s portfolio.Hartford Investment Management Co boosted its stake in DLR in the latest quarter, The investment management firm added 32,104 additional shares and now holds a total of 35,115 shares of Digital Realty Trust which is valued at $3,709,900. Digital Realty Trust makes up approx 0.08% of Hartford Investment Management Co’s portfolio.Pennsylvania Trust Co reduced its stake in DLR by selling 157 shares or 2.28% in the most recent quarter. The Hedge Fund company now holds 6,725 shares of DLR which is valued at $705,318. Digital Realty Trust makes up approx 0.06% of Pennsylvania Trust Co’s portfolio.

Digital Realty Trust closed down -3.23 points or -3.00% at $104.46 with 33,25,681 shares getting traded on Friday. Post opening the session at $105.05, the shares hit an intraday low of $101.36 and an intraday high of $106 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Digital Realty Trust reported $1.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.39. The company had revenue of $514.90 million for the quarter, 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 Inc. is a real estate investment trust (REIT) that owns acquires develops and manages technology-related real estate. The Company’s 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.

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