Deutsche Bank upgraded Digital Realty Trust to "buy" from "hold"
Real estate investment trust (REIT) Digital Realty Trust Inc (NYSE:DLR) is up 3% at $179.15 at last glance, after an upgrade from Deutsche Bank to "buy" from "hold." The firm also lifted its price target to $194 from $185.
On the charts, DLR has been moving steadily lower since its Nov. 29 record high of $198.00. Today's pop has the stock extending a bounce off the $170 level and 100-day moving average, however, as well as moving into positive territory for 2025. Year over year, the equity is up 29.3%.
DLR's options pits are seeing a surge in put selling after the upgrade, pointing to upbeat sentiment. The stock has seen 7 times the put volume typically seen at this point, and most can be attributed to the weekly 1/31 172.50-strike put, where new positions are being sold to open.
Digital Realty Trust received a round of bull notes in October, but there is still plenty of room for optimism. Of the 25 analysts in coverage, nine still carry a "hold" or worse rating, while the 12-month consensus price target of $187.36 is a slim 4.9% premium to current levels.