Digital Realty Trust (NYSE:DLR) Releases Quarterly Earnings Results, Misses Expectations By $1.43 EPS

Digital Realty Trust (NYSE:DLR) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43), Zacks reports. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.68 earnings per share. Digital Realty Trust updated its FY24 guidance to $6.60 to $6.75 EPS and its FY 2024 guidance to 6.600-6.750 EPS.

Digital Realty Trust Stock Down 1.2 %

NYSE DLR traded down $1.72 during trading hours on Friday, hitting $145.65. The company had a trading volume of 3,204,947 shares, compared to its average volume of 1,405,666. The firm’s 50 day moving average is $149.57 and its 200 day moving average is $144.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.29 and a quick ratio of 1.29. Digital Realty Trust has a fifty-two week low of $113.94 and a fifty-two week high of $162.58. The company has a market capitalization 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.

Digital Realty Trust Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on DLR. HSBC boosted their price target on Digital Realty Trust from $115.00 to $118.00 and gave the stock a “reduce” rating in a report on Friday, May 3rd. Mizuho began coverage on shares of Digital Realty Trust in a research note on Thursday, July 11th. They issued an “outperform” rating and a $170.00 target price for the company. Morgan Stanley raised their price target on shares of Digital Realty Trust from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group assumed coverage on shares of Digital Realty Trust in a report on Monday, July 1st. They set a “buy” rating and a $175.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on shares of Digital Realty Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $152.20.

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.