Digital Realty Trust (NYSE:DLR) Releases Quarterly Earnings Results, Misses Expectations By $1.58 EPS

28 Oct 2024, 01:06 by Michael Walen · The Markets Daily

Digital Realty Trust (NYSE:DLR – Get Free Report) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($1.58), Zacks reports. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 EPS. Digital Realty Trust updated its FY24 guidance to $6.65-$6.75 EPS and its FY 2024 guidance to 6.650-6.750 EPS.

Digital Realty Trust Stock Performance

DLR stock traded up $15.88 during mid-day trading on Friday, hitting $181.01. 6,093,376 shares of the company were exchanged, compared to its average volume of 1,831,267. Digital Realty Trust has a 1-year low of $116.73 and a 1-year high of $193.88. The stock 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 business has a 50 day simple moving average of $157.70 and a 200-day simple moving average of $150.67. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81.

Digital Realty Trust Announces Dividend

The business also recently disclosed 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 was Friday, September 13th. This represents a $4.88 dividend on an annualized basis and a yield of 2.70%. Digital Realty Trust’s dividend payout ratio (DPR) is 135.56%.

Insider Buying and Selling

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.26, for a total value of $90,156.00. Following the transaction, the director now directly owns 9,055 shares of the company’s stock, valued at $1,360,604.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Argus lowered shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays upped their price target on Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Truist Financial lifted their price objective on Digital Realty Trust from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on Digital Realty Trust in a research report on Monday, July 1st. They issued a “buy” rating and a $175.00 target price for the company. Finally, Scotiabank lifted their price target on shares of Digital Realty Trust from $157.00 to $178.00 and gave the stock a “sector perform” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $165.21.

Check Out Our Latest Stock Analysis on DLR

About Digital Realty Trust

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