Barclays Maintains Underweight Rating for Digital Realty Trust: Here's What You Need To Know

Barclays has decided to maintain its Underweight rating of Digital Realty Trust DLR and raise its price target from $80.00 to $94.00.

Shares of Digital Realty Trust are trading up 0.9% over the last 24 hours, at $124.50 per share.

A move to $94.00 would account for a 24.5% decrease from the current share price.

About Digital Realty Trust

Digital Realty owns and operates over 300 data centers worldwide. It has nearly 40 million rentable square feet across five continents. Digital's offerings range from retail co-location, where an enterprise may rent a single cabinet and rely on Digital to provide all the accommodations, to "cold shells," where hyperscale cloud service providers can simply rent much, or all, of a barren, power-connected building. In recent years, Digital Realty has de-emphasized cold shells and now primarily provides higher-level service to tenants, which outsource their related IT needs to Digital. Digital Realty has also moved more into the co-location business, increasingly serving enterprises and facilitating network and cloud connections. Digital Realty operates as a real estate investment trust.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.