Zacks Investment Research upgraded shares of Dupont Fabros Technology Inc. (NYSE:DFT) from a hold rating to a buy rating in a report issued on Thursday. They currently have $43.00 price objective on the real estate investment trust’s stock.
According to Zacks, “DuPont Fabros Technology, Inc. is a leading owner, developer, operator and manager of wholesale data centers and a real estate investment trust. The Company’s data centers are highly specialized, secure facilities used primarily by national and international technology companies to house, power and cool the computer servers that support many of their most critical business processes. DuPont Fabros Technology is headquartered in Washington, DC. “
A number of other brokerages have also commented on DFT. Citigroup Inc. lifted their price target on Dupont Fabros Technology from $43.00 to $47.00 and gave the company a neutral rating in a research note on Thursday, July 7th. SunTrust Banks Inc. began coverage on Dupont Fabros Technology in a research note on Thursday, July 21st. They set a buy rating and a $55.00 price target on the stock. Barclays PLC reissued an overweight rating and set a $49.00 price target (up from $48.00) on shares of Dupont Fabros Technology in a research note on Friday, June 17th. Jefferies Group reissued a hold rating and set a $49.00 price target (up from $46.00) on shares of Dupont Fabros Technology in a research note on Thursday, August 11th. Finally, Raymond James Financial Inc. raised Dupont Fabros Technology from a market perform rating to an outperform rating and set a $47.00 price target on the stock in a research note on Wednesday, September 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $45.57.
Dupont Fabros Technology (NYSE:DFT) opened at 39.37 on Thursday. The company has a market capitalization of $2.96 billion, a PE ratio of 9842.50 and a beta of 0.59. The company has a 50 day moving average price of $42.22 and a 200-day moving average price of $43.71. Dupont Fabros Technology has a 12-month low of $27.81 and a 12-month high of $48.97.
Dupont Fabros Technology (NYSE:DFT) last released its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.01. The business earned $128.54 million during the quarter, compared to analyst estimates of $127.15 million. Dupont Fabros Technology had a net margin of 7.67% and a return on equity of 20.26%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. On average, analysts anticipate that Dupont Fabros Technology will post $2.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, October 7th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.78%. Dupont Fabros Technology’s dividend payout ratio (DPR) is presently -2,349.71%.
Large investors have recently made changes to their positions in the stock. Advisor Group Inc. purchased a new stake in shares of Dupont Fabros Technology during the second quarter worth approximately $109,000. BNP Paribas Arbitrage SA boosted its stake in shares of Dupont Fabros Technology by 6,944.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,311 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 3,264 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Dupont Fabros Technology during the first quarter worth approximately $162,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Dupont Fabros Technology by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,402 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 307 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Dupont Fabros Technology during the first quarter worth approximately $219,000. 98.20% of the stock is owned by hedge funds and other institutional investors.
About Dupont Fabros Technology
DuPont Fabros Technology, Inc (DFT) is a real estate investment trust (REIT). The Company is a self-administered and self-managed company that owns, acquires, develops and operates wholesale data centers. The Company’s customers outsource their applications, and include national and international enterprises across various industries, such as technology, Internet content providers, media, communications, cloud providers, healthcare and financial services.