Digital Realty Trust (NYSE:DLR) Releases Earnings Results, Misses Estimates By $1.43 EPS

Digital Realty Trust (NYSE:DLR) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($1.43), Zacks reports. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Digital Realty Trust had a return on equity of 6.07% and a net margin of 20.58%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. Digital Realty Trust updated its FY24 guidance to $6.60 to $6.75 EPS and its FY 2024 guidance to 6.600-6.750 EPS.

Digital Realty Trust Price Performance

Shares of DLR stock traded down $1.72 during mid-day trading on Friday, hitting $145.65. 3,204,947 shares of the stock were exchanged, compared to its average volume of 1,405,666. Digital Realty Trust has a 52-week low of $113.94 and a 52-week high of $162.58. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.91. The firm has a fifty day moving average of $149.57 and a 200 day moving average of $144.48. The company has a market cap of $45.51 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 10.55 and a beta of 0.59.

Digital Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, June 14th. Digital Realty Trust’s payout ratio is 135.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DLR. Morgan Stanley raised their target price 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. Barclays boosted their target price on Digital Realty Trust from $123.00 to $130.00 and gave the company an “underweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on Digital Realty Trust from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Digital Realty Trust from $143.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, BMO Capital Markets upgraded Digital Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $144.00 to $170.00 in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Digital Realty Trust currently has a consensus rating of “Hold” and an average target price of $152.20.

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.