Digital Realty Trust (NYSE:DLR) Updates FY 2024 Earnings Guidance

Digital Realty Trust (NYSE:DLR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 6.600-6.750 for the period, compared to the consensus EPS estimate of 6.660. The company issued revenue guidance of $5.6 billion-$5.7 billion, compared to the consensus revenue estimate of $5.6 billion.

Digital Realty Trust Trading Down 2.2 %

NYSE DLR traded down $3.23 during trading hours on Monday, hitting $143.77. 1,885,766 shares of the company’s stock were exchanged, compared to its average volume of 1,970,313. The stock has a 50-day simple moving average of $142.39 and a 200 day simple moving average of $137.72. Digital Realty Trust has a 1-year low of $86.33 and a 1-year high of $154.18. The firm has a market cap of $44.92 billion, a price-to-earnings ratio of 39.94, a PEG ratio of 3.34 and a beta of 0.55. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.91.

Digital Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.22 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.88 annualized dividend and a yield of 3.39%. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Analysts Set New Price Targets

A number of equities research analysts have commented on DLR shares. Morgan Stanley raised their price objective on Digital Realty Trust from $100.00 to $108.00 and gave the company an equal weight rating in a research note on Tuesday, April 2nd. HSBC lifted their target price on Digital Realty Trust from $115.00 to $118.00 and gave the company a reduce rating in a research report on Friday. Citigroup lifted their target price on Digital Realty Trust from $154.00 to $160.00 and gave the company a buy rating in a research report on Thursday, February 29th. Stifel Nicolaus lifted their target price on Digital Realty Trust from $155.00 to $160.00 and gave the company a buy rating in a research report on Friday, February 16th. Finally, Wells Fargo & Company raised Digital Realty Trust from an equal weight rating to an overweight rating and lifted their target price for the company from $135.00 to $155.00 in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $142.65.

Insider Activity

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 stock was sold at an average price of $145.50, for a total transaction of $494,700.00. Following the sale, the director now directly owns 8,413 shares in the company, valued at approximately $1,224,091.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

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.