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

Digital Realty Trust (NYSE:DLR) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.600-6.750 for the period, compared to the consensus earnings per share estimate of 6.660. 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 Stock Down 2.2 %

Shares of DLR traded down $3.23 during trading hours on Monday, reaching $143.77. The stock had a trading volume of 1,885,766 shares, compared to its average volume of 1,970,313. The company has a market capitalization of $44.92 billion, a price-to-earnings ratio of 39.94, a P/E/G ratio of 3.34 and a beta of 0.55. The firm has a 50-day simple moving average of $142.39 and a 200 day simple moving average of $137.72. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.91. Digital Realty Trust has a 12 month low of $86.33 and a 12 month high of $154.18.

Digital Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Thursday, March 14th. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DLR shares. Barclays lifted their price target on Digital Realty Trust from $110.00 to $119.00 and gave the company an underweight rating in a research note on Tuesday, March 5th. Scotiabank downgraded Digital Realty Trust from a sector outperform rating to a sector perform rating and set a $157.00 price target for the company. in a report on Friday, February 16th. Truist Financial lifted their price objective on shares of Digital Realty Trust from $145.00 to $158.00 and gave the stock a buy rating in a report on Monday, March 18th. Citigroup increased their target price on shares of Digital Realty Trust from $154.00 to $160.00 and gave the company a buy rating in a report on Thursday, February 29th. Finally, UBS Group upped their price objective on shares of Digital Realty Trust from $143.00 to $147.00 and gave the stock a neutral rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $142.65.

Insider Activity at Digital Realty Trust

In related news, Director Jean F. H. P. Mandeville sold 3,400 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $145.50, for a total transaction of $494,700.00. Following the transaction, the director now directly owns 8,413 shares of the company’s stock, valued at approximately $1,224,091.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.39% of the stock is owned by insiders.

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.