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

Digital Realty Trust (NYSE:DLR) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.60-6.75 for the period, compared to the consensus EPS estimate of $6.66. The company issued revenue guidance of $5.55-5.65 billion, compared to the consensus revenue estimate of $5.61 billion.

Digital Realty Trust Price Performance

Digital Realty Trust stock traded up $2.16 during trading on Thursday, reaching $140.15. The company had a trading volume of 2,006,711 shares, compared to its average volume of 1,955,018. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.14. Digital Realty Trust has a 1-year low of $86.33 and a 1-year high of $154.18. The firm’s 50-day simple moving average is $142.05 and its 200 day simple moving average is $137.13. The firm has a market capitalization of $43.79 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 3.15 and a beta of 0.55.

Digital Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.48%. Digital Realty Trust’s dividend payout ratio (DPR) is presently 164.31%.

Wall Street Analyst Weigh In

A number of analysts recently commented on DLR shares. Scotiabank downgraded shares of Digital Realty Trust from a sector outperform rating to a sector perform rating and set a $157.00 target price on the stock. in a report on Friday, February 16th. Raymond James boosted their target price on Digital Realty Trust from $140.00 to $170.00 and gave the company a strong-buy rating in a research note on Friday, February 16th. StockNews.com cut Digital Realty Trust from a hold rating to a sell rating in a report on Friday, February 16th. Truist Financial lifted their price target on Digital Realty Trust from $145.00 to $158.00 and gave the company a buy rating in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Digital Realty Trust from $125.00 to $140.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Digital Realty Trust has an average rating of Hold and a consensus price target of $143.33.

Insider Buying and Selling

In related news, Director Jean F. H. P. Mandeville sold 3,400 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $145.50, for a total value of $494,700.00. Following the completion of the sale, the director now directly owns 8,413 shares in the company, valued at $1,224,091.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

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.