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

Digital Realty Trust (NYSE:DLR) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 6.600-6.750 for the period, compared to the consensus earnings per share estimate of 6.670. The company issued revenue guidance of $5.6 billion-$5.7 billion, compared to the consensus revenue estimate of $5.6 billion. Digital Realty Trust also updated its FY24 guidance to $6.60 to $6.75 EPS.

Analyst Upgrades and Downgrades

DLR has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Digital Realty Trust from a neutral rating to an overweight rating and lifted their price target for the company from $150.00 to $175.00 in a report on Friday, June 28th. TD Cowen cut their target price on shares of Digital Realty Trust from $122.00 to $120.00 and set a hold rating for the company in a research note on Friday. Morgan Stanley increased their price target on Digital Realty Trust from $100.00 to $108.00 and gave the stock an equal weight rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Digital Realty Trust from $143.00 to $145.00 and gave the company a hold rating in a research report on Thursday, May 30th. Finally, BMO Capital Markets raised Digital Realty Trust from a market perform rating to an outperform rating and boosted their price objective for the stock from $144.00 to $170.00 in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $152.20.

Digital Realty Trust Trading Down 1.2 %

Shares of NYSE:DLR traded down $1.72 during midday trading on Friday, hitting $145.65. The company had a trading volume of 3,204,396 shares, compared to its average volume of 1,915,188. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.91. Digital Realty Trust has a 12 month low of $113.94 and a 12 month high of $162.58. The firm has a fifty day simple moving average of $149.57 and a 200 day simple moving average of $144.40. The stock has a market cap of $45.51 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 10.99 and a beta of 0.59.

Digital Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders 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 payout ratio is currently 135.56%.

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.