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

Digital Realty Trust (NYSE:DLR) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen lifted their price objective on Digital Realty Trust from $120.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday. The Goldman Sachs Group started coverage on shares of Digital Realty Trust in a research report on Monday, July 1st. They set a “buy” rating and a $175.00 price target on the stock. Raymond James raised their price objective on shares of Digital Realty Trust from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a research report on Friday. Truist Financial boosted their target price on shares of Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Digital Realty Trust from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Digital Realty Trust currently has a consensus rating of “Hold” and an average price target of $165.21.

Digital Realty Trust Stock Up 9.6 %

Shares of DLR stock traded up $15.88 during trading on Friday, reaching $181.01. The company’s stock had a trading volume of 6,093,376 shares, compared to its average volume of 1,831,267. Digital Realty Trust has a 1-year low of $116.73 and a 1-year high of $193.88. The stock’s 50-day moving average price is $157.70 and its 200 day moving average price is $150.67. The company has a market capitalization of $56.55 billion, a price-to-earnings ratio of 50.28, a P/E/G ratio of 5.08 and a beta of 0.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78.

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

Digital Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, September 13th. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Insider Activity

In related news, Director Jean F. H. P. Mandeville sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the sale, the director now owns 9,055 shares of the company’s stock, valued at $1,360,604.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Digital Realty Trust Company Profile

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.