Digital Realty Trust (NYSE:DLR) Releases FY 2024 Earnings Guidance

Digital Realty Trust (NYSE:DLR) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.650-6.750 for the period, compared to the consensus EPS estimate of 6.690. The company issued revenue guidance of $5.6 billion-$5.6 billion, compared to the consensus revenue estimate of $5.6 billion. Digital Realty Trust also updated its FY24 guidance to $6.65-$6.75 EPS.

Analyst Upgrades and Downgrades

DLR has been the topic of a number of research reports. The Goldman Sachs Group began coverage on shares of Digital Realty Trust in a research note on Monday, July 1st. They issued a “buy” rating and a $175.00 price objective on the stock. Barclays boosted their price objective on Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Truist Financial raised their target price on Digital Realty Trust from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. TD Cowen boosted their price target on Digital Realty Trust from $120.00 to $128.00 and gave the company a “hold” rating in a report on Friday. Finally, Raymond James lifted their target price on shares of Digital Realty Trust from $170.00 to $190.00 and gave the company a “strong-buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $165.21.

Digital Realty Trust Price Performance

Shares of NYSE:DLR traded up $15.88 during midday trading on Friday, hitting $181.01. The company’s stock had a trading volume of 6,085,235 shares, compared to its average volume of 1,831,267. Digital Realty Trust has a 12-month low of $116.73 and a 12-month high of $193.88. The company has a market cap of $56.55 billion, a P/E ratio of 50.28, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.78. The business’s 50 day simple moving average is $157.08 and its 200 day simple moving average is $150.38.

Digital Realty Trust (NYSE:DLR) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($1.43). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, analysts forecast that Digital Realty Trust will post 6.65 EPS for the current year.

Digital Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Friday, September 13th. Digital Realty Trust’s dividend payout ratio (DPR) is presently 135.56%.

Insider Transactions at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the transaction, the director now owns 9,055 shares of the company’s stock, valued at $1,360,604.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

About Digital Realty Trust

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation and efficiently managing Data Gravity challenges.