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

Digital Realty Trust (NYSE:DLR) announced its earnings results on Thursday. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate 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 return on equity of 5.93% and a net margin of 20.58%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 EPS. 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 Trading Up 9.6 %

DLR traded up $15.88 during trading on Friday, reaching $181.01. 6,093,376 shares of the company’s stock were exchanged, compared to its average volume of 1,831,267. Digital Realty Trust has a one year low of $116.73 and a one year high of $193.88. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $56.55 billion, a PE ratio of 50.28, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60. The firm has a fifty day moving average price of $157.70 and a two-hundred day moving average price of $150.67.

Digital Realty Trust Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of Digital Realty Trust from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Evercore ISI boosted their target price on shares of Digital Realty Trust from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Digital Realty Trust in a research report on Monday, July 1st. They issued a “buy” rating and a $175.00 target price for the company. Hsbc Global Res upgraded shares of Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research report on Friday, October 4th. Finally, HSBC upgraded shares of Digital Realty Trust from a “reduce” rating to a “hold” rating and boosted their target price for the company from $124.00 to $160.00 in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Digital Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $165.21.

Insiders Place Their Bets

In other news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s stock in a transaction 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 sale, the director now directly owns 9,055 shares of the company’s stock, valued at approximately $1,360,604.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.