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In a report published Monday, Jefferies analyst Omotayo Okusanya downgraded the rating on
Digital Realty Trust, Inc.DLR from Buy to Hold, and lowered the price target from $72.00 to $70.00.
In the report, Jefferies noted, “We are downgrading shares of DLR to Hold from Buy following the stock's 34% run in 2014, putting shares at near full valuation, in our view. We also think 2015 will be a transitional year for DLR, limiting earnings growth as management steps on the brakes for development/M&A and further implements its capital recycling strategy to improve long-term ROIC. For more details, please see our 2015 REIT outlook, published this morning.”
Digital Realty Trust closed on Friday at $68.18.
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