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

by · The Markets Daily

Digital Realty Trust (NYSE:DLR – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 6.650-6.750 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI boosted their price objective on Digital Realty Trust from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Digital Realty Trust from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Argus cut Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. HSBC raised Digital Realty Trust from a “reduce” rating to a “hold” rating and lifted their target price for the company from $124.00 to $160.00 in a research note on Friday, October 4th. Finally, Hsbc Global Res raised Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $158.33.

View Our Latest Analysis on Digital Realty Trust

Digital Realty Trust Stock Performance

Digital Realty Trust stock traded down $0.67 during trading hours on Thursday, reaching $165.13. 1,440,526 shares of the company were exchanged, compared to its average volume of 1,810,389. The firm has a market cap of $51.59 billion, a price-to-earnings ratio of 45.87, a PEG ratio of 5.08 and a beta of 0.60. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average of $156.77 and a 200 day moving average of $150.27. Digital Realty Trust has a 12 month low of $116.18 and a 12 month high of $166.60.

Digital Realty Trust (NYSE:DLR – Get Free Report) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share (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 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 EPS. As a group, research analysts anticipate that Digital Realty Trust will post 6.65 earnings per share for the current year.

Digital Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given 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 yield of 2.96%. Digital Realty Trust’s payout ratio is currently 135.56%.

Insider Transactions at Digital Realty Trust

In other news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s 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 directly owns 9,055 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Digital Realty Trust Company Profile

(Get Free Report)

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.

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