Digital Realty Trust (NYSE:DLR) Posts Earnings Results, Misses Estimates By $1.43 EPS

Digital Realty Trust (NYSE:DLR) posted its earnings results 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 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 firm’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $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 Price Performance

NYSE:DLR traded down $1.72 during trading hours on Friday, hitting $145.65. The company’s stock had a trading volume of 3,204,947 shares, compared to its average volume of 1,405,666. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $45.51 billion, a P/E ratio of 40.46, a PEG ratio of 10.55 and a beta of 0.59. Digital Realty Trust has a twelve month low of $113.94 and a twelve month high of $162.58. The stock has a fifty day simple moving average of $149.57 and a 200-day simple moving average of $144.48.

Digital Realty Trust Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays boosted their target price on Digital Realty Trust from $123.00 to $130.00 and gave the stock an “underweight” rating in a report on Wednesday. UBS Group boosted their target price on Digital Realty Trust from $143.00 to $147.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised Digital Realty Trust from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $175.00 in a report on Friday, June 28th. Wells Fargo & Company boosted their price target on Digital Realty Trust from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price target on Digital Realty Trust from $144.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. Three investment 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, Digital Realty Trust has a consensus rating of “Hold” and an average price target of $152.20.

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.