Digital Realty Trust (NYSE:DLR) Updates FY24 Earnings Guidance

Digital Realty Trust (NYSE:DLR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.60-6.75 for the period, compared to the consensus estimate of $6.66. The company issued revenue guidance of $5.55-5.65 billion, compared to the consensus revenue estimate of $5.61 billion.

Digital Realty Trust Price Performance

Shares of DLR traded up $6.85 during mid-day trading on Friday, reaching $147.00. The company had a trading volume of 3,309,695 shares, compared to its average volume of 1,588,043. The company’s 50-day moving average is $142.27 and its 200-day moving average is $137.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $45.93 billion, a P/E ratio of 40.83, a P/E/G ratio of 3.34 and a beta of 0.55. Digital Realty Trust has a twelve month low of $86.33 and a twelve month high of $154.18.

Digital Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.22 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.88 dividend on an annualized basis and a yield of 3.32%. Digital Realty Trust’s dividend payout ratio (DPR) is presently 135.56%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DLR. Barclays raised their target price on Digital Realty Trust from $110.00 to $119.00 and gave the company an underweight rating in a research note on Tuesday, March 5th. Evercore ISI restated an outperform rating and issued a $154.00 target price on shares of Digital Realty Trust in a research note on Wednesday, March 27th. Raymond James raised their target price on Digital Realty Trust from $140.00 to $170.00 and gave the company a strong-buy rating in a research note on Friday, February 16th. JPMorgan Chase & Co. raised their price target on Digital Realty Trust from $125.00 to $140.00 and gave the company a neutral rating in a report on Tuesday, February 20th. Finally, UBS Group raised their price target on Digital Realty Trust from $143.00 to $147.00 and gave the company a neutral rating in a report on Friday. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $142.65.

Insider Buying and Selling at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 3,400 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $145.50, for a total value of $494,700.00. Following the completion of the transaction, the director now directly owns 8,413 shares of the company’s stock, valued at $1,224,091.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.39% 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.