5 Best Data Center REIT Dividend Stocks to Buy

3. Digital Realty Trust, Inc. (NYSE: DLR)

Number of Hedge Fund Holders: 30
Dividend Yield: 2.77%

Digital Realty Trust, Inc. (NYSE: DLR) is a data center REIT that supports leading enterprises and service providers across the globe through the delivery of its data center, colocation, and interconnection solutions. The company ranks 3rd on our list of the best data center REIT dividend stocks to buy.

This August, Citi analyst Michael Rollins raised the price target on shares of Digital Realty Trust, Inc. (NYSE: DLR) from $160 to $179. The analyst also holds a Buy rating on the stock.

In the second quarter of 2021, Digital Realty Trust, Inc. (NYSE: DLR) had an FFO of $1.54, missing estimates by $0.04. The company’s revenue was $1.09 billion, up 10.09% year over year and beating estimates by $22.13 million. Digital Realty Trust, Inc. (NYSE: DLR) has gained 29.92% in the past 6 months and 23.88% year to date.

By the end of the second quarter of 2021, 30 hedge funds out of the 873 tracked by Insider Monkey held stakes in Digital Realty Trust, Inc. (NYSE: DLR) worth roughly $424 million. This is compared to 22 hedge funds in the previous quarter with a total stake value of approximately $296 million.