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

Digital Realty Trust (NYSE:DLR) released its quarterly 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 the consensus estimate of $1.38 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 6.07%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. 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 Performance

Digital Realty Trust stock traded down $1.72 on Friday, reaching $145.65. 3,204,947 shares of the stock were exchanged, compared to its average volume of 1,405,666. The stock has a market cap of $45.51 billion, a PE ratio of 40.46, a PEG ratio of 10.55 and a beta of 0.59. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.91. Digital Realty Trust has a twelve month low of $113.94 and a twelve month high of $162.58. The firm has a fifty day moving average price of $149.57 and a two-hundred day moving average price of $144.48.

Digital Realty Trust Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DLR. TD Cowen cut their price target on Digital Realty Trust from $122.00 to $120.00 and set a “hold” rating on the stock in a report on Friday. Mizuho started coverage on Digital Realty Trust in a report on Thursday, July 11th. They set an “outperform” rating and a $170.00 target price on the stock. The Goldman Sachs Group started coverage on Digital Realty Trust in a report on Monday, July 1st. They set a “buy” rating and a $175.00 target price on the stock. Wells Fargo & Company boosted their target price on Digital Realty Trust from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Digital Realty Trust from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $150.00 to $175.00 in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.