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

Shares of NYSE:DLR traded up $6.85 during mid-day trading on Friday, reaching $147.00. 3,309,695 shares of the company traded hands, compared to its average volume of 1,588,043. Digital Realty Trust has a 52 week low of $86.33 and a 52 week high of $154.18. The firm has a market cap of $45.93 billion, a PE ratio of 40.83, a PEG ratio of 3.34 and a beta of 0.55. The company’s 50 day moving average price is $142.27 and its 200-day moving average price 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 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 $1.22 dividend. 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 dividend payout ratio (DPR) is presently 135.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Digital Realty Trust from $143.00 to $147.00 and gave the stock a neutral rating in a research note on Friday. Raymond James raised their target price on shares of 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. Wells Fargo & Company raised shares of Digital Realty Trust from an equal weight rating to an overweight rating and increased their price objective for the company from $135.00 to $155.00 in a report on Tuesday, April 9th. TD Cowen boosted their price target on shares of Digital Realty Trust from $116.00 to $122.00 and gave the stock a hold rating in a research report on Friday. Finally, 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 research note on Monday, March 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Digital Realty Trust currently has an average rating of Hold and a consensus price target of $142.65.

Insider Activity

In other news, Director Jean F. H. P. Mandeville sold 3,400 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $145.50, for a total transaction of $494,700.00. Following the sale, the director now directly owns 8,413 shares of the company’s stock, valued at $1,224,091.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.