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

by · The Markets Daily

Digital Realty Trust (NYSE:DLR – Get Free Report) updated its FY24 earnings guidance on Thursday. 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 Price Performance

Digital Realty Trust stock traded up $15.88 during midday 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 stock has a market cap 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 has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $157.70 and a 200-day moving average price of $150.64. Digital Realty Trust has a 52 week low of $116.73 and a 52 week high of $193.88.

Digital Realty Trust (NYSE:DLR – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($1.43). Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $1.68 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, sell-side analysts predict that Digital Realty Trust will post 6.65 EPS for the current year.

Digital Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Digital Realty Trust’s dividend payout ratio (DPR) is presently 135.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. 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. Jefferies Financial Group increased their price target on Digital Realty Trust from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company increased their target price on shares of Digital Realty Trust from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Friday. Mizuho began coverage on Digital Realty Trust in a research note on Thursday, July 11th. They issued an “outperform” rating and a $170.00 target price on the stock. Finally, Scotiabank upped their price objective on Digital Realty Trust from $157.00 to $178.00 and gave the company a “sector perform” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $165.21.

Read Our Latest Analysis on DLR

Insider Activity

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of Digital Realty Trust stock in a transaction dated 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 sale, the director now owns 9,055 shares of the company’s stock, 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 document filed with the SEC, which is available at this hyperlink. 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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