Digital Realty Trust (NYSE:DLR) Announces Earnings Results

27 Oct 2024, 23:38 by Jessica Moore · The Cerbat Gem

Digital Realty Trust (NYSE:DLR – Get Free Report) issued its earnings results on Thursday. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.58), Zacks reports. Digital Realty Trust had a return on equity of 5.93% and a net margin of 20.58%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $1.62 earnings per share. Digital Realty Trust’s revenue for the quarter was up 2.1% on a year-over-year basis. 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 %

NYSE DLR traded up $15.88 on Friday, hitting $181.01. 6,093,376 shares of the stock were exchanged, compared to its average volume of 1,831,267. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.81. 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 market cap of $56.55 billion, a PE ratio of 50.28, a PEG ratio of 5.08 and a beta of 0.60. The company has a 50-day moving average price of $157.70 and a 200-day moving average price of $150.67.

Digital Realty Trust Announces Dividend

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

Insider Activity

In other news, Director Jean F. H. P. Mandeville sold 600 shares of the company’s 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 completion of the transaction, the director now owns 9,055 shares in the company, valued at approximately $1,360,604.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Digital Realty Trust from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group initiated 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 target on the stock. Raymond James boosted their price target on shares of Digital Realty Trust from $170.00 to $190.00 and gave the company a “strong-buy” rating in a research note on Friday. Scotiabank boosted their price target on shares of Digital Realty Trust from $157.00 to $178.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, HSBC raised shares of Digital Realty Trust from a “reduce” rating to a “hold” rating and boosted their price target for the company from $124.00 to $160.00 in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.21.

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