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

Digital Realty Trust (NYSE:DLR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 6.600-6.750 for the period, compared to the consensus earnings per share 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 Stock Performance

DLR traded down $3.23 during mid-day trading on Monday, reaching $143.77. 1,885,766 shares of the company traded hands, compared to its average volume of 1,970,313. The company’s fifty day moving average price is $142.39 and its 200-day moving average price is $137.72. The stock has a market capitalization of $44.92 billion, a P/E ratio of 39.94, a P/E/G ratio of 3.34 and a beta of 0.55. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.91. Digital Realty Trust has a 52-week low of $86.33 and a 52-week high of $154.18.

Digital Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DLR shares. Morgan Stanley upped their price target on shares of Digital Realty Trust from $100.00 to $108.00 and gave the company an equal weight rating in a research report on Tuesday, April 2nd. Stifel Nicolaus boosted their price target on Digital Realty Trust from $155.00 to $160.00 and gave the company a buy rating in a report on Friday, February 16th. Scotiabank downgraded Digital Realty Trust from a sector outperform rating to a sector perform rating and set a $157.00 price objective on the stock. in a research note on Friday, February 16th. Raymond James boosted their price objective 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. Finally, TD Cowen lifted their price target on shares of Digital Realty Trust from $116.00 to $122.00 and gave the company a hold rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Digital Realty Trust currently has a consensus rating of Hold and an average price target of $142.65.

Insider Transactions at Digital Realty Trust

In other news, Director Jean F. H. P. Mandeville sold 3,400 shares of Digital Realty Trust stock in a transaction that occurred on 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 owns 8,413 shares in the company, valued at approximately $1,224,091.50. The sale was disclosed in a document filed with the SEC, which is available 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.