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 Thursday morning. 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.

Digital Realty Trust Price Performance

NYSE DLR traded down $4.29 during trading on Thursday, hitting $147.37. 2,420,910 shares of the company’s stock were exchanged, compared to its average volume of 1,906,105. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.91. The company has a market cap of $46.04 billion, a PE ratio of 40.94, a P/E/G ratio of 11.30 and a beta of 0.59. Digital Realty Trust has a fifty-two week low of $113.94 and a fifty-two week high of $162.58. The stock’s 50 day moving average price is $149.53 and its two-hundred day moving average price is $144.32.

Digital Realty Trust Dividend Announcement

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

Analyst Ratings Changes

DLR has been the subject of several research analyst reports. Royal Bank of Canada boosted their target price on Digital Realty Trust from $144.00 to $160.00 and gave the stock an outperform rating in a research note on Monday, June 3rd. Morgan Stanley boosted their price target on Digital Realty Trust from $100.00 to $108.00 and gave the stock an equal weight rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upgraded Digital Realty Trust from a neutral rating to an overweight rating and boosted their price target for the stock from $150.00 to $175.00 in a report on Friday, June 28th. UBS Group boosted their price target on Digital Realty Trust from $143.00 to $147.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Digital Realty Trust from $143.00 to $145.00 and gave the stock a hold rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Digital Realty Trust presently has a consensus rating of Hold and an average price target of $152.30.

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.