Digital Realty Trust (NYSE:DLR) Releases Earnings Results, Misses Estimates By $1.58 EPS

Digital Realty Trust (NYSE:DLR) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58), Zacks reports. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. Digital Realty Trust’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Digital Realty Trust updated its FY24 guidance to $6.65-$6.75 EPS and its FY 2024 guidance to 6.650-6.750 EPS.

Digital Realty Trust Stock Up 9.6 %

NYSE:DLR traded up $15.88 during trading hours on Friday, hitting $181.01. 6,093,376 shares of the company’s stock traded hands, compared to its average volume of 1,831,267. Digital Realty Trust has a twelve month low of $116.73 and a twelve month high of $193.88. The firm has a market cap of $56.55 billion, a P/E ratio of 50.28, a P/E/G ratio of 5.08 and a beta of 0.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.78 and a current ratio of 1.78. The stock’s fifty day moving average price is $157.70 and its two-hundred day moving average price is $150.67.

Digital Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.70%. Digital Realty Trust’s dividend payout ratio is 135.56%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DLR. Jefferies Financial Group upped their price target on shares of Digital Realty Trust from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of Digital Realty Trust in a research report on Friday. Argus lowered Digital Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. HSBC raised Digital Realty Trust from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $124.00 to $160.00 in a report on Friday, October 4th. Finally, Barclays upped their price target on shares of Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Digital Realty Trust currently has an average rating of “Hold” and an average target price of $165.21.

Insider Buying and Selling at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the transaction, the director now owns 9,055 shares in the company, valued at approximately $1,360,604.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.17% 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.