Digital Realty Trust (NYSE:DLR) Issues 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 Up 4.9 %

Shares of NYSE:DLR traded up $6.85 during midday trading on Friday, hitting $147.00. 3,309,695 shares of the stock were exchanged, 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 business’s fifty day simple moving average is $142.27 and its two-hundred day simple moving average is $137.52. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $45.93 billion, a PE ratio of 40.83, a P/E/G ratio of 3.34 and a beta of 0.55.

Digital Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DLR. Stifel Nicolaus upped their target price on Digital Realty Trust from $155.00 to $160.00 and gave the stock a buy rating in a research report on Friday, February 16th. Wells Fargo & Company upgraded shares of Digital Realty Trust from an equal weight rating to an overweight rating and boosted their price objective for the stock from $135.00 to $155.00 in a research note on Tuesday, April 9th. TD Cowen boosted their price objective on shares of Digital Realty Trust from $116.00 to $122.00 and gave the stock a hold rating in a research note on Friday. Truist Financial boosted 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. Finally, Morgan Stanley boosted their price objective on shares of Digital Realty Trust from $100.00 to $108.00 and gave the stock an equal weight rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Digital Realty Trust currently has a consensus rating of Hold and a consensus price target of $142.65.

Insider Buying and Selling

In related 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 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 Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently 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.