Digital Realty Trust (NYSE:DLR) Issues FY24 Earnings Guidance

Digital Realty Trust (NYSE:DLR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.65-$6.75 for the period, compared to the consensus estimate of $6.69. The company issued revenue guidance of $5.55-$5.60 billion, compared to the consensus revenue estimate of $5.57 billion. Digital Realty Trust also updated its FY 2024 guidance to 6.650-6.750 EPS.

Wall Street Analyst Weigh In

DLR has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Digital Realty Trust from $120.00 to $128.00 and gave the company a “hold” rating in a research report on Friday. Barclays increased their target price on Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Hsbc Global Res raised Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a report on Friday, October 4th. The Goldman Sachs Group started coverage on Digital Realty Trust in a research report on Monday, July 1st. They set a “buy” rating and a $175.00 target price on the stock. Finally, Mizuho assumed 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 target on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $165.21.

Digital Realty Trust Price Performance

Digital Realty Trust stock traded up $15.88 during midday trading on Friday, reaching $181.01. The company’s stock had a trading volume of 6,085,235 shares, compared to its average volume of 1,831,267. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.78. Digital Realty Trust has a fifty-two week low of $116.73 and a fifty-two week high of $193.88. The firm has a market capitalization of $56.55 billion, a PE ratio of 50.28, a P/E/G ratio of 5.08 and a beta of 0.60. The stock’s 50 day simple moving average is $157.08 and its 200 day simple moving average is $150.38.

Digital Realty Trust (NYSE:DLR) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($1.43). Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts forecast that Digital Realty Trust will post 6.65 earnings per share for the current year.

Digital Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Digital Realty Trust’s payout ratio is currently 135.56%.

Insider Buying and Selling at Digital Realty Trust

In related news, Director Jean F. H. P. Mandeville sold 600 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the sale, the director now directly owns 9,055 shares in the company, valued at $1,360,604.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.