Barclays Cuts Price Target on Digital Realty Trust (DLR), Investing Outside the U.S. for Growth
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Price: $200.15 +1.30%
Rating Summary:
30 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
30 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays is reiterating its Overweight rating on shares of Digital Realty Trust (NYSE: DLR), but is cutting its price target by $3 to $67.
The company reported solid Q2 results with FFO of $1.02, $0.03 ahead of the firms estimate due to better construction management income.
The firm raised its FY11 FFO estimate by $0.01 to $4.04, which is $0.01 under the company's new guidance of $3.99-$4.05. Barclays five-year FFO growth rate is 11.4 percent, and its five-year CAD growth rate is 11.6 percent.
An analyst at Barclays comments, "Management is focusing much of its energy on international expansion, buying a development site in Sydney subsequent to quarter end and planning acquisitions in Melbourne, Paris, and Dublin. With the supply of institutional-quality data centers lower in many international markets, management currently sees better returns and better growth outside of the U.S., although it continues to invest domestically."
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 $60.58 yesterday.
The company reported solid Q2 results with FFO of $1.02, $0.03 ahead of the firms estimate due to better construction management income.
The firm raised its FY11 FFO estimate by $0.01 to $4.04, which is $0.01 under the company's new guidance of $3.99-$4.05. Barclays five-year FFO growth rate is 11.4 percent, and its five-year CAD growth rate is 11.6 percent.
An analyst at Barclays comments, "Management is focusing much of its energy on international expansion, buying a development site in Sydney subsequent to quarter end and planning acquisitions in Melbourne, Paris, and Dublin. With the supply of institutional-quality data centers lower in many international markets, management currently sees better returns and better growth outside of the U.S., although it continues to invest domestically."
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 $60.58 yesterday.
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