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

Digital Realty Trust (NYSE:DLR) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.600-6.750 for the period, compared to the consensus estimate of 6.670. The company issued revenue guidance of $5.6 billion-$5.7 billion, compared to the consensus revenue estimate of $5.6 billion. Digital Realty Trust also updated its FY24 guidance to $6.60 to $6.75 EPS.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Digital Realty Trust from $165.00 to $175.00 and gave the stock a buy rating in a research report on Friday, July 12th. TD Cowen reduced their price target on shares of Digital Realty Trust from $122.00 to $120.00 and set a hold rating on the stock in a research report on Friday. Barclays increased their price objective on shares of Digital Realty Trust from $123.00 to $130.00 and gave the company an underweight rating in a research note on Wednesday. UBS Group increased their price objective on shares of Digital Realty Trust from $143.00 to $147.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, Mizuho initiated coverage on shares of Digital Realty Trust in a research note on Thursday, July 11th. They issued an outperform rating and a $170.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $152.20.

Digital Realty Trust Stock Down 1.2 %

NYSE:DLR traded down $1.72 during trading hours on Friday, reaching $145.65. The company had a trading volume of 3,204,947 shares, compared to its average volume of 1,405,666. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.91. The firm has a market cap of $45.51 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 10.55 and a beta of 0.59. The business’s 50-day simple moving average is $149.57 and its two-hundred day simple moving average is $144.48. Digital Realty Trust has a twelve month low of $113.94 and a twelve month high of $162.58.

Digital Realty Trust (NYSE:DLR) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.38 billion. Digital Realty Trust had a return on equity of 6.07% 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 previous year, the business posted $1.68 earnings per share. On average, equities analysts expect that Digital Realty Trust will post 6.67 earnings per share for the current year.

Digital Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, June 14th. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Digital Realty Trust Company Profile

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.