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

Digital Realty Trust (NYSE:DLR) updated its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share 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 Trading Up 9.6 %

Shares of DLR stock traded up $15.88 during mid-day 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. 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 firm has a market capitalization of $56.55 billion, a PE ratio of 50.28, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60. The company’s 50 day simple moving average is $157.70 and its 200-day simple moving average is $150.64. Digital Realty Trust has a 12-month low of $116.73 and a 12-month high of $193.88.

Digital Realty Trust (NYSE:DLR) last issued its quarterly earnings data 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 for 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 company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 EPS. On average, research analysts predict that Digital Realty Trust will post 6.65 EPS for the current fiscal year.

Digital Realty Trust Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Digital Realty Trust from $190.00 to $205.00 and gave the company a “buy” rating in a report on Friday. Barclays raised their target price on Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. HSBC upgraded Digital Realty Trust from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $124.00 to $160.00 in a research note on Friday, October 4th. Stifel Nicolaus restated a “buy” rating and set a $195.00 price objective (up previously from $185.00) on shares of Digital Realty Trust in a research note on Friday. Finally, The Goldman Sachs Group assumed coverage on Digital Realty Trust in a research report on Monday, July 1st. They issued a “buy” rating and a $175.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $165.21.

Insider Activity at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,360,604.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

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.