Digital Realty Trust (NYSE:DLR) Posts Earnings Results, Misses Estimates By $1.43 EPS

Digital Realty Trust (NYSE:DLR) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43), Zacks reports. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Digital Realty Trust had a return on equity of 6.07% and a net margin of 20.58%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. Digital Realty Trust updated its FY24 guidance to $6.60 to $6.75 EPS and its FY 2024 guidance to 6.600-6.750 EPS.

Digital Realty Trust Price Performance

Shares of DLR traded down $1.72 during mid-day trading on Friday, hitting $145.65. 3,204,947 shares of the company were exchanged, compared to its average volume of 1,405,666. Digital Realty Trust has a 1-year low of $113.94 and a 1-year high of $162.58. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50 day moving average of $149.57 and a 200-day moving average of $144.48. The stock has a market cap of $45.51 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 10.55 and a beta of 0.59.

Digital Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.22 per share. The ex-dividend date was Friday, June 14th. This represents a $4.88 annualized dividend and a dividend yield of 3.35%. Digital Realty Trust’s dividend payout ratio (DPR) is presently 135.56%.

Analysts Set New Price Targets

DLR has been the topic of a number of research analyst reports. BMO Capital Markets raised shares of Digital Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $144.00 to $170.00 in a report on Wednesday, June 26th. Barclays boosted their price objective on shares of Digital Realty Trust from $123.00 to $130.00 and gave the company an “underweight” rating in a report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Digital Realty Trust from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 12th. HSBC boosted their price objective on shares of Digital Realty Trust from $115.00 to $118.00 and gave the company a “reduce” rating in a report on Friday, May 3rd. Finally, Morgan Stanley upped their price target on shares of Digital Realty Trust from $100.00 to $108.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Digital Realty Trust has an average rating of “Hold” and a consensus target price of $152.20.

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.