The cryptocurrency market has seen a considerable amount of recent activity concerning Digital Realty Trust (NYSE:DLR). The company's Q1 and Q4 2024 earnings calls indicate that Digital Realty Trust has exceeded FFO estimates, although Q2 FFO did miss estimates. Digital Realty Trust's stock has also been performing well on strong trading days, outperforming competitors and seeing its RS rating increase to 83. This bullish performance has prompted analysts at TD Cowen and UBS Group to increase their price target for the company to $122.00 and $147.00 respectively.
Despite a Q4 earnings miss and underwhelming 2024 guidance, there continue to be strategic transformations within the company that suggest long-term potential. Notably, Digital Realty Trust formed a data center development joint venture with Mitsubishi Corporation and another $7 billion Hyperscale Data Center Development Joint Venture with Blackstone. On the dividend front, investors are cheering a 5% dividend hike. Furthermore, Swiss National Bank, Natixis Advisors, and International Assets Investment Management LLC have recently increased their holdings in Digital Realty Trust. However, there have been some fluctuations, with Truist Financial Corp and Federated Hermes reducing their holdings.
Digital Realty's strong performance continues to engage market attention, with its stock near a 2-year high after an impressive profit reversal. Their continued expansion into AI Supercomputing, evidenced by their hosting of an AI Supercomputer in Denmark, has aligned them favorably with shifting digital trends. With these developments, it's worthwhile to continue watching the company's performance closely for further indications of their market trajectory.
Digital Realty Trust DLR News Analytics from Mon, 28 Aug 2023 07:00:00 GMT to Tue, 07 May 2024 10:52:29 GMT - Rating 7 - Innovation 6 - Information 9 - Rumor -4
