Digital Realty Trust (NYSE:DLR) Announces Quarterly Earnings Results

Digital Realty Trust (NYSE:DLR) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($1.58), Zacks reports. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. Digital Realty Trust updated its FY24 guidance to $6.65-$6.75 EPS and its FY 2024 guidance to 6.650-6.750 EPS.

Digital Realty Trust Stock Performance

NYSE:DLR traded up $15.88 during trading hours on Friday, reaching $181.01. The company had a trading volume of 6,093,376 shares, compared to its average volume of 1,831,267. The firm’s 50 day moving average price is $157.70 and its 200-day moving average price is $150.67. The firm has a market cap of $56.55 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 5.08 and a beta of 0.60. Digital Realty Trust has a 52 week low of $116.73 and a 52 week high of $193.88. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.81.

Digital Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Digital Realty Trust’s dividend payout ratio (DPR) is currently 135.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DLR shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of Digital Realty Trust in a research note on Friday. Barclays upped their target price on Digital Realty Trust from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Hsbc Global Res upgraded Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research note on Friday, October 4th. TD Cowen upped their price objective on Digital Realty Trust from $120.00 to $128.00 and gave the company a “hold” rating in a research note on Friday. Finally, Mizuho assumed coverage on Digital Realty Trust in a research report on Thursday, July 11th. They issued an “outperform” rating and a $170.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Digital Realty Trust has an average rating of “Hold” and a consensus target price of $165.21.

Insider Transactions at Digital Realty Trust

In related news, Director Jean F. H. P. Mandeville sold 600 shares of Digital Realty Trust stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.26, for a total transaction of $90,156.00. Following the transaction, the director now owns 9,055 shares in the company, valued at approximately $1,360,604.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.17% 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.