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

Digital Realty Trust (NYSE:DLR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.60-6.75 for the period, compared to the consensus 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 Up 4.9 %

Shares of DLR stock 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 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 52-week low of $86.33 and a 52-week high of $154.18. 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 has a 50-day moving average price of $142.27 and a 200 day moving average price of $137.52.

Digital Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, March 14th. Digital Realty Trust’s dividend payout ratio (DPR) is presently 135.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DLR shares. Wells Fargo & Company upgraded Digital Realty Trust from an equal weight rating to an overweight rating and boosted their price target for the company from $135.00 to $155.00 in a research note on Tuesday, April 9th. StockNews.com downgraded Digital Realty Trust from a hold rating to a sell rating in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their price target on Digital Realty Trust from $125.00 to $140.00 and gave the company a neutral rating in a research note on Tuesday, February 20th. Truist Financial boosted 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, Royal Bank of Canada restated an outperform rating and set a $144.00 price target on shares of Digital Realty Trust in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $142.65.

Insider Transactions at Digital Realty Trust

In other news, Director Jean F. H. P. Mandeville sold 3,400 shares of the company’s 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 completion of 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 filing with the SEC, which is available at this link. Corporate 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.