Digital Realty Trust, Inc. (NYSE:DLR) is one of the 10 Best Data Center Stocks to Buy in July. On Tuesday, the stock inched up 0.69%, closing at $174.90. Based on 33 analyst ratings compiled by CNN, 73% assigned a Buy rating to Digital Realty, while 27% assigned a Hold rating. The stock has an average price target of $220, a 25.79% upside from its current price.
Carol Gauthier/Shutterstock.com
On July 1, Barclays increased its price target on Digital Realty to $197 from $189 while maintaining an Equal Weight rating on the shares, according to a report by TheFly. The adjustment was made as Barclays increased its targets in the communications infrastructure real estate investment trust group, driven by higher growth expectations as companies are benefiting from ongoing hyperscale demand and accelerating enterprise AI demand.
In other news, Digital Realty recently set a price of $185 per share for an underwritten registered public offering of 12.3 million shares of its common stock by affiliates of Blackstone Inc. Shares of common stock sold in the offering will be issued to Blackstone upon the closing of the firm’s acquisition of Blackstone’s interests in the Digital Carver Dulles 9 and Digital Carver Brickyard joint ventures.
Digital Realty (NYSE:DLR) claims to be the world’s largest cloud- and carrier-neutral data center colocation platform. Its global data center platform, called PlatformDIGITAL, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation, from cloud and digital transformation to emerging technologies like artificial intelligence (AI), and efficiently managing data gravity challenges.
While we acknowledge the potential of DLR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best SaaS Stocks to Buy According to Reddit and 10 Best Cybersecurity Stocks to Buy According to Short Sellers.
Disclosure: None. Follow Insider Monkey on Google News.
