Digital Realty Trust (NYSE:DLR) Issues Earnings Results

Digital Realty Trust (NYSE:DLR) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($1.43), Zacks reports. Digital Realty Trust had a net margin of 20.58% and a return on equity of 6.07%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company earned $1.68 earnings per share. Digital Realty Trust’s quarterly revenue was down .7% compared to the same quarter last year. Digital Realty Trust updated its FY24 guidance to $6.60 to $6.75 EPS and its FY 2024 guidance to 6.600-6.750 EPS.

Digital Realty Trust Trading Down 1.2 %

DLR traded down $1.72 on Friday, reaching $145.65. 3,204,947 shares of the company traded hands, compared to its average volume of 1,405,666. The company has a market cap of $45.51 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 10.55 and a beta of 0.59. The firm has a fifty day simple moving average of $149.57 and a two-hundred day simple moving average of $144.48. Digital Realty Trust has a one year low of $113.94 and a one year high of $162.58. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.91.

Digital Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid 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 3.35%. Digital Realty Trust’s payout ratio is 135.56%.

Analyst Ratings Changes

A number of research analysts have weighed in on DLR shares. Stifel Nicolaus increased their target price on Digital Realty Trust from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 12th. Royal Bank of Canada increased their price objective on shares of Digital Realty Trust from $144.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. UBS Group boosted their target price on shares of Digital Realty Trust from $143.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Wells Fargo & Company increased their price target on shares of Digital Realty Trust from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Mizuho assumed coverage on shares of Digital Realty Trust in a research note on Thursday, July 11th. They set an “outperform” rating and a $170.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Digital Realty Trust currently has a consensus rating of “Hold” and an average target price of $152.20.

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.