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

Digital Realty Trust (NYSE:DLR) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.600-6.750 for the period, compared to the consensus estimate of 6.670. 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 also updated its FY24 guidance to $6.60 to $6.75 EPS.

Analysts Set New Price Targets

Several research firms have recently weighed in on DLR. Royal Bank of Canada upped their target price on shares of Digital Realty Trust from $144.00 to $160.00 and gave the stock an outperform rating in a report on Monday, June 3rd. Mizuho began coverage on shares of Digital Realty Trust in a report on Thursday, July 11th. They issued an outperform rating and a $170.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Digital Realty Trust from $165.00 to $175.00 and gave the stock a buy rating in a report on Friday, July 12th. Evercore ISI reaffirmed an outperform rating and issued a $154.00 target price on shares of Digital Realty Trust in a report on Wednesday, March 27th. Finally, BMO Capital Markets raised shares of Digital Realty Trust from a market perform rating to an outperform rating and increased their price objective for the stock from $144.00 to $170.00 in a report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Digital Realty Trust currently has a consensus rating of Hold and an average price target of $152.30.

Digital Realty Trust Trading Down 2.8 %

Shares of NYSE DLR traded down $4.29 during mid-day trading on Thursday, hitting $147.37. The company’s stock had a trading volume of 2,420,910 shares, compared to its average volume of 1,906,105. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 11.30 and a beta of 0.59. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.29 and a quick ratio of 1.29. Digital Realty Trust has a one year low of $113.94 and a one year high of $162.58. The company’s fifty day simple moving average is $149.53 and its 200-day simple moving average is $144.32.

Digital Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, June 14th. Digital Realty Trust’s dividend payout ratio (DPR) is presently 135.56%.

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.