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

Digital Realty Trust (NYSE:DLR) issued an update on its FY24 earnings guidance on Thursday morning. 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 Stock Performance

NYSE:DLR traded up $6.85 during mid-day trading on Friday, hitting $147.00. The company’s stock had a trading volume of 3,309,695 shares, compared to its average volume of 1,588,043. The stock has a market cap of $45.93 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 3.34 and a beta of 0.55. The business’s fifty day moving average is $142.27 and its two-hundred day moving average is $137.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 1.14. Digital Realty Trust has a 1 year low of $86.33 and a 1 year high of $154.18.

Digital Realty Trust Announces Dividend

The company also recently disclosed 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 was Thursday, March 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.32%. Digital Realty Trust’s payout ratio is 135.56%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Digital Realty Trust from $154.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Royal Bank of Canada reissued an outperform rating and issued a $144.00 price target on shares of Digital Realty Trust in a research note on Friday, February 16th. StockNews.com downgraded shares of Digital Realty Trust from a hold rating to a sell rating in a report on Friday, February 16th. Evercore ISI reaffirmed an outperform rating and issued a $154.00 price target on shares of Digital Realty Trust in a research note on Wednesday, March 27th. Finally, Raymond James raised their target price on Digital Realty Trust from $140.00 to $170.00 and gave the company a strong-buy rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $142.65.

Insider Transactions at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 3,400 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $145.50, for a total transaction of $494,700.00. Following the completion of the transaction, the director now owns 8,413 shares of the company’s stock, valued at $1,224,091.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.

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.