Digital Realty Trust (NYSE:DLR) Issues Earnings Results, Misses Estimates By $1.58 EPS

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

DLR traded up $15.88 during trading hours on Friday, hitting $181.01. 6,093,376 shares of the stock were exchanged, compared to its average volume of 1,831,267. The stock has a market cap of $56.55 billion, a price-to-earnings ratio of 50.28, a price-to-earnings-growth ratio of 5.08 and a beta of 0.60. The stock has a 50-day simple moving average of $157.70 and a 200-day simple moving average of $150.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.78 and a quick ratio of 1.78. Digital Realty Trust has a 12 month low of $116.73 and a 12 month high of $193.88.

Digital Realty Trust Dividend Announcement

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 was Friday, September 13th. Digital Realty Trust’s dividend payout ratio is currently 135.56%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DLR. Hsbc Global Res raised shares of Digital Realty Trust from a “moderate sell” rating to a “hold” rating in a research report on Friday, October 4th. Argus downgraded shares of Digital Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Scotiabank increased their price target on Digital Realty Trust from $157.00 to $178.00 and gave the company a “sector perform” rating in a report on Friday. The Goldman Sachs Group assumed coverage on Digital Realty Trust in a research note on Monday, July 1st. They set a “buy” rating and a $175.00 price objective on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $195.00 target price (up previously from $185.00) on shares of Digital Realty Trust in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Digital Realty Trust presently has a consensus rating of “Hold” and an average price target of $165.21.

Insider Buying and Selling at Digital Realty Trust

In other Digital Realty Trust news, Director Jean F. H. P. Mandeville sold 600 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.26, for a total value of $90,156.00. Following the transaction, the director now owns 9,055 shares of the company’s stock, valued at $1,360,604.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

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.