UBS Reiterates a 'Sell' on Digital Realty Trust (DLR); The Q1 Digital Download

UBS reiterates a 'Sell' on Digital Realty Trust (NYSE: DLR), PT increased from $45 to $49.

UBS analyst says, "Our Sell rating on DLR shares has not played out with the stock up 18% YTD, outperforming the 11% increase for REITs overall. While we have seen several data points supporting our concerns surrounding an uptick in supply, flat/lower market rents, and lower construction costs / improved efficiency, the stock has climbed steadily...We attribute the better than expected stock performance in 2011 to: (i) continued REIT rally; (ii) solid underlying data center demand; (iii) cloud services M&A – Navisite (NYSE: , Terremark, Savvis (Nasdaq: SVVS); (iv) higher than expected Q1 dividend increase; and (v) Q1 FFO beat and 3% guidance raise."

For more ratings news on Digital Realty Trust click here and for the rating history of Digital Realty Trust click here.

Shares of Digital Realty Trust closed at $60.30 yesterday.

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