Jefferies Increases PT on Digital Realty Trust from $65.00 to $68.00 (DLR)

In a recent report, J.P. Morgan is raising its Price Target on Digital Realty Trust (NYSE: DLR) from $65.00 to $68.00 due to a strong 2011 outlook.

According to this report, the increase Price Target is due to Digital Realty Trust's projected benefit from the growing data center real estate industry. J.P. Morgan writes, “DLR reported another solid quarter and increased guidance for the second time since first issuing 2011 guidance at the end of 2010. Fundamentals remained strong with occupancy at 93.5% and leasing spreads of approximately +10%. More significantly, same-store net operating income growth accelerated to +9.4% after getting as low as +5.0% in 3Q10.”

Digital Realty Trust is currently trading at $60.93.