Wells Fargo Analyst Lowers Price Targets On Two Data Center REITs

Wells Fargo analyst Eric Luebchow is lowering his price targets for two data center real estate investment trusts (REITs) that he follows.

He is maintaining his “overweight” rating on Equinix Inc. EQIX but reducing his price target on the REIT from $775 to $760, a 19% drop.

Luebchow also maintains his “overweight” rating on Digital Realty Trust Inc. DLR but lowers the price target on this one from $165 to $155, a 6% reduction. 

Equinix is a NASDAQ-traded digitally-oriented data center REIT with international operations. The company pays a 1.9% dividend.

Digital Realty Trust operates globally with 290 locations from corporate headquarters in Austin, Texas. The REIT is paying a dividend of 3.83%.

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