Digital Realty Trust (NYSE:DLR) Updates FY24 Earnings Guidance

Digital Realty Trust (NYSE:DLR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.65-$6.75 for the period, compared to the consensus earnings per share estimate of $6.69. The company issued revenue guidance of $5.55-$5.60 billion, compared to the consensus revenue estimate of $5.57 billion. Digital Realty Trust also updated its FY 2024 guidance to 6.650-6.750 EPS.

Digital Realty Trust Trading Down 0.4 %

Shares of DLR traded down $0.67 during trading hours on Thursday, hitting $165.13. The company had a trading volume of 1,440,526 shares, compared to its average volume of 1,810,389. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $156.77 and its 200 day moving average price is $150.27. The firm has a market cap of $51.59 billion, a P/E ratio of 45.87, a P/E/G ratio of 5.08 and a beta of 0.60. Digital Realty Trust has a 52-week low of $116.18 and a 52-week high of $166.60.

Digital Realty Trust (NYSE:DLR) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (EPS) 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 the consensus estimate 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 in the prior year, the business posted $1.68 EPS. On average, research analysts predict that Digital Realty Trust will post 6.65 EPS for the current year.

Digital Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $1.22 per share. 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 2.96%. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DLR shares. Mizuho initiated coverage on Digital Realty Trust in a report on Thursday, July 11th. They issued an “outperform” rating and a $170.00 price objective for the company. Evercore ISI lifted their price target on shares of Digital Realty Trust from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday. Hsbc Global Res raised shares of Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of Digital Realty Trust from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Truist Financial lifted their price objective on Digital Realty Trust from $160.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.33.

Insider Transactions at Digital Realty Trust

In related news, Director Jean F. H. P. Mandeville sold 600 shares of the business’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 transaction of $90,156.00. Following the completion of the sale, the director now directly owns 9,055 shares in the company, valued at approximately $1,360,604.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.