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

Digital Realty Trust (NYSE:DLR) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 6.600-6.750 for the period, compared to the consensus 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 NYSE:DLR traded down $3.23 during mid-day trading on Monday, reaching $143.77. 1,885,766 shares of the stock were exchanged, compared to its average volume of 1,970,313. The stock’s 50 day simple moving average is $142.39 and its 200-day simple moving average is $137.72. Digital Realty Trust has a one year low of $86.33 and a one year high of $154.18. The company has a market cap of $44.92 billion, a P/E ratio of 39.94, a P/E/G ratio of 3.34 and a beta of 0.55. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.91.

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 given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 14th. Digital Realty Trust’s dividend payout ratio is presently 135.56%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DLR. Truist Financial raised their price objective on Digital Realty Trust from $145.00 to $158.00 and gave the company a buy rating in a report on Monday, March 18th. Stifel Nicolaus increased their price objective on Digital Realty Trust from $155.00 to $160.00 and gave the company a buy rating in a report on Friday, February 16th. Morgan Stanley upped their price target on shares of Digital Realty Trust from $100.00 to $108.00 and gave the stock an equal weight rating in a research report on Tuesday, April 2nd. Barclays boosted their price objective on shares of Digital Realty Trust from $110.00 to $119.00 and gave the stock an underweight rating in a research note on Tuesday, March 5th. Finally, Scotiabank downgraded shares of Digital Realty Trust from a sector outperform rating to a sector perform rating and set a $157.00 target price for the company. in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Digital Realty Trust currently has a consensus rating of Hold and an average target price of $142.65.

Insider Buying and Selling

In related news, Director Jean F. H. P. Mandeville sold 3,400 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $145.50, for a total transaction of $494,700.00. Following the sale, the director now owns 8,413 shares of the company’s stock, valued at $1,224,091.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is owned by 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.