Digital Realty Trust (NYSE:DLR) Releases Quarterly Earnings Results, Misses Expectations By $1.58 EPS

Digital Realty Trust (NYSE:DLR) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $1.67 by ($1.58), Zacks reports. Digital Realty Trust had a net margin of 20.58% and a return on equity of 5.93%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $1.62 earnings per share. Digital Realty Trust’s revenue for the quarter was up 2.1% compared to the same quarter last year. 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 Up 9.6 %

Shares of NYSE:DLR traded up $15.88 during midday trading on Friday, reaching $181.01. 6,093,376 shares of the company were exchanged, compared to its average volume of 1,831,267. Digital Realty Trust has a fifty-two week low of $116.73 and a fifty-two week high of $193.88. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $157.70 and a two-hundred day simple moving average of $150.67. The firm has a market cap of $56.55 billion, a PE ratio of 50.28, a P/E/G ratio of 5.08 and a beta of 0.60.

Digital Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.70%. Digital Realty Trust’s payout ratio is 135.56%.

Insider Buying and Selling at Digital Realty Trust

In other Digital Realty Trust 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 value of $90,156.00. Following the sale, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on DLR. Barclays increased their price target on shares of Digital Realty Trust from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Argus cut shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. The Goldman Sachs Group started coverage on shares of Digital Realty Trust in a research note on Monday, July 1st. They issued a “buy” rating and a $175.00 price objective on the stock. Evercore ISI raised their price objective on shares of Digital Realty Trust from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Digital Realty Trust from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Digital Realty Trust has a consensus rating of “Hold” and an average target price of $165.21.

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.