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 earnings per share (EPS) guidance of 6.650-6.750 for the period, compared to the consensus 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.

Digital Realty Trust Stock Down 0.3 %

Digital Realty Trust stock traded down $0.57 during midday trading on Thursday, reaching $165.23. The company’s stock had a trading volume of 1,473,401 shares, compared to its average volume of 1,810,522. Digital Realty Trust has a 52-week low of $116.18 and a 52-week high of $166.60. The stock has a market capitalization of $51.62 billion, a P/E ratio of 45.87, a PEG 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. The stock’s 50-day simple moving average is $156.77 and its 200-day simple moving average is $150.27.

Digital Realty Trust (NYSE:DLR) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates 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 for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. On average, sell-side analysts expect 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 issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.95%. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Wall Street Analyst Weigh In

DLR has been the subject of a number of research reports. Hsbc Global Res raised Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research report on Friday, October 4th. BMO Capital Markets upgraded Digital Realty Trust from a “market perform” rating to an “outperform” rating and upped their target price for the company from $144.00 to $170.00 in a research report on Wednesday, June 26th. Barclays upped their price objective on shares of Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group assumed coverage on shares of Digital Realty Trust in a report on Monday, July 1st. They set a “buy” rating and a $175.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Digital Realty Trust from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten 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 $158.33.

Insider Buying and Selling

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.26, for a total transaction of $90,156.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.