SunTrust Robinson Sticks to Its Buy Rating for Digital Realty

By Carrie Williams

SunTrust Robinson analyst Gregory Miller reiterated a Buy rating on Digital Realty (NYSE: DLR) today and set a price target of $140. The company’s shares opened today at $121.20, close to its 52-week high of $127.23.

According to TipRanks.com, Miller is a 5-star analyst with an average return of 11.4% and a 73.0% success rate. Miller covers the Technology sector, focusing on stocks such as Interxion Holding NV, Zayo Group Holdings, and magicJack VocalTec.

Currently, the analyst consensus on Digital Realty is Moderate Buy and the average price target is $127.11, representing a 4.9% upside.

In a report issued on October 4, RBC Capital also assigned a Buy rating to the stock with a $133 price target.

Based on Digital Realty’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $563 million and quarterly net profit of $78.65 million. In comparison, last year the company earned revenue of $546 million and had a net profit of $219 million.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is neutral on the stock.

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Digital Realty Trust, Inc. operates as a real estate investment trust. It owns, acquires, develops and manages technology related real estate. The company conducts its business and owns its assets through Digital Realty Trust L.P.