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 guidance of $6.60 to $6.75 for the period, compared to the consensus earnings per share estimate of $6.63. The company issued revenue guidance of $5.550 billion to $5.650, compared to the consensus revenue estimate of $5.58 billion.

Digital Realty Trust Price Performance

Shares of Digital Realty Trust stock traded down $4.29 during mid-day trading on Thursday, reaching $147.37. 2,420,910 shares of the stock were exchanged, compared to its average volume of 1,905,622. The company has a market cap of $46.04 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 11.30 and a beta of 0.59. The firm has a 50-day simple moving average of $149.48 and a 200 day simple moving average of $144.30. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.91. Digital Realty Trust has a fifty-two week low of $113.94 and a fifty-two week high of $162.58.

Digital Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $1.22 per share. The ex-dividend date was Friday, June 14th. This represents a $4.88 annualized dividend and a yield of 3.31%. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DLR. Royal Bank of Canada lifted their price target on shares of Digital Realty Trust from $144.00 to $160.00 and gave the stock an outperform rating in a research report on Monday, June 3rd. 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, May 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Digital Realty Trust from $143.00 to $145.00 and gave the company a hold rating in a research report on Thursday, May 30th. Morgan Stanley increased their target price on 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. Finally, Stifel Nicolaus increased their price target on Digital Realty Trust from $165.00 to $175.00 and gave the stock a buy rating in a research report on Friday, July 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $152.30.

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.