Digital Realty Trust (NYSE:DLR) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Digital Realty Trust reported quarterly EPS of $0.48, missing analyst expectations by $0.04, while revenue of $1.90 billion exceeded estimates of $1.75 billion.
• Shares rose 1.9% to $183.21 following the results. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $220.26.
• The company paid a quarterly dividend of $1.22, equivalent to $4.88 annually and a 2.7% yield, though its dividend payout ratio stood at 236.89%.

Digital Realty Trust (NYSE:DLR - Get Free Report) posted its earnings results on Thursday. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.04), FiscalAI reports. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.75 billion. Digital Realty Trust had a return on equity of 3.34% and a net margin of 11.80%.

Digital Realty Trust Stock Up 1.9%

Shares of NYSE DLR traded up $3.44 during mid-day trading on Thursday, hitting $183.21. 2,407,654 shares of the stock traded hands, compared to its average volume of 2,317,604. The stock has a fifty day moving average price of $181.91 and a 200-day moving average price of $182.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $67.97 billion, a price-to-earnings ratio of 88.94, a PEG ratio of 3.31 and a beta of 0.99. Digital Realty Trust has a 52 week low of $146.23 and a 52 week high of $208.14.

Digital Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, September 15th. Digital Realty Trust's dividend payout ratio (DPR) is presently 236.89%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Guggenheim raised shares of Digital Realty Trust from a "neutral" rating to a "buy" rating and set a $200.00 target price on the stock in a research note on Wednesday, July 15th. Cantor Fitzgerald increased their price target on shares of Digital Realty Trust from $211.00 to $221.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. KeyCorp reissued a "sector weight" rating on shares of Digital Realty Trust in a research note on Friday, July 24th. TD Cowen upgraded shares of Digital Realty Trust from a "hold" rating to a "buy" rating and upped their price target for the company from $192.00 to $222.00 in a research report on Friday, July 24th. Finally, Royal Bank Of Canada lifted their target price on shares of Digital Realty Trust from $207.00 to $227.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Digital Realty Trust has an average rating of "Moderate Buy" and an average target price of $220.26.

Insider Activity

In related news, Director Mark Patterson sold 200 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $193.96, for a total transaction of $38,792.00. Following the sale, the director owned 6,322 shares of the company's stock, valued at $1,226,215.12. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by insiders.

About Digital Realty Trust

Digital Realty Trust, Inc is a real estate investment trust that owns, operates and develops data center facilities for businesses, cloud service providers, information technology companies and telecommunications organizations. The company provides the physical infrastructure needed to support data storage, networking, cloud computing and other digital operations.

Its services include data center colocation, interconnection and private connectivity solutions. Digital Realty also offers access to cloud and network providers through its PlatformDIGITAL platform, which is designed to help customers deploy, connect and manage their digital infrastructure across multiple locations.

Founded in 2001, Digital Realty serves customers through a global portfolio of data centers and related facilities across North America, Europe, Asia-Pacific and Latin America.

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