Digital Realty Trust (NYSE:DLR) Posts Quarterly Earnings Results, Misses Expectations By $1.40 EPS

Digital Realty Trust (NYSE:DLR – Get Rating) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $1.62 by ($1.40), MarketWatch Earnings reports. Digital Realty Trust had a net margin of 38.60% and a return on equity of 10.11%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $1.67 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Digital Realty Trust updated its FY22 guidance to $6.80 to $6.90 EPS.

Digital Realty Trust stock traded down $5.38 during midday trading on Friday, reaching $146.12. The company’s stock had a trading volume of 2,383,124 shares, compared to its average volume of 1,325,798. Digital Realty Trust has a 52 week low of $130.10 and a 52 week high of $178.22. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $141.73 and a 200-day moving average price of $152.37. The stock has a market cap of $41.60 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 3.18 and a beta of 0.33.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Monday, March 14th. This is a boost from Digital Realty Trust’s previous quarterly dividend of $1.16. Digital Realty Trust’s payout ratio is currently 101.25%.

Several hedge funds have recently made changes to their positions in DLR. EverSource Wealth Advisors LLC acquired a new stake in shares of Digital Realty Trust during the fourth quarter valued at about $32,000. Zullo Investment Group Inc. acquired a new stake in shares of Digital Realty Trust during the fourth quarter valued at about $66,000. Salem Investment Counselors Inc. acquired a new stake in shares of Digital Realty Trust during the fourth quarter valued at about $74,000. Covington Capital Management boosted its stake in shares of Digital Realty Trust by 31.6% during the fourth quarter. Covington Capital Management now owns 625 shares of the real estate investment trust’s stock valued at $111,000 after purchasing an additional 150 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Digital Realty Trust during the fourth quarter valued at about $290,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

DLR has been the subject of several research reports. StockNews.com initiated coverage on Digital Realty Trust in a report on Thursday, March 31st. They set a “hold” rating for the company. Credit Suisse Group cut their price target on Digital Realty Trust from $150.00 to $146.00 and set a “neutral” rating for the company in a report on Friday, February 18th. Barclays raised their price target on Digital Realty Trust from $148.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, February 18th. Cowen cut their price target on Digital Realty Trust from $162.00 to $149.00 and set a “market perform” rating for the company in a report on Friday, February 18th. Finally, Stifel Nicolaus cut their price target on Digital Realty Trust from $195.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 18th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $168.36.

Digital Realty Trust Company Profile (Get Rating)

Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITALR, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture PDxTM solution methodology for scaling digital business and efficiently managing data gravity challenges.

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