Brokerages forecast that Digital Realty (NYSE:DLR) will announce $1.57 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Digital Realty’s earnings, with estimates ranging from $1.55 to $1.60. Digital Realty posted earnings per share of $1.50 in the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The company is scheduled to issue its next earnings report after the market closes on Thursday, April 26th.
According to Zacks, analysts expect that Digital Realty will report full year earnings of $6.55 per share for the current financial year, with EPS estimates ranging from $6.47 to $6.63. For the next fiscal year, analysts forecast that the business will post earnings of $7.08 per share, with EPS estimates ranging from $6.94 to $7.19. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Digital Realty.
Digital Realty (NYSE:DLR) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($1.18). The firm had revenue of $731.45 million during the quarter, compared to analyst estimates of $729.30 million. Digital Realty had a net margin of 10.10% and a return on equity of 4.03%.
DLR has been the topic of several analyst reports. Wells Fargo upgraded Digital Realty from a “market perform” rating to an “outperform” rating and raised their target price for the company from $109.31 to $120.00 in a report on Friday, December 22nd. Zacks Investment Research downgraded Digital Realty from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Credit Suisse Group set a $95.00 target price on Digital Realty and gave the company a “hold” rating in a report on Saturday, February 17th. Citigroup upgraded Digital Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $105.12 to $120.00 in a report on Wednesday, February 14th. Finally, ValuEngine upgraded Digital Realty from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $121.82.
In other Digital Realty news, SVP Christopher Kenney sold 10,000 shares of Digital Realty stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $103.47, for a total transaction of $1,034,700.00. Following the sale, the senior vice president now directly owns 10,000 shares in the company, valued at approximately $1,034,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.43% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB increased its holdings in Digital Realty by 7.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 68,997 shares of the real estate investment trust’s stock worth $7,859,000 after purchasing an additional 5,012 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Digital Realty by 17.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,169 shares of the real estate investment trust’s stock worth $9,701,000 after purchasing an additional 12,910 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Digital Realty by 6.8% during the 4th quarter. Sterling Capital Management LLC now owns 46,308 shares of the real estate investment trust’s stock worth $5,274,000 after purchasing an additional 2,953 shares during the last quarter. Hunter Associates Investment Management LLC increased its holdings in Digital Realty by 48.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 9,550 shares of the real estate investment trust’s stock worth $1,088,000 after purchasing an additional 3,110 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Digital Realty in the 4th quarter valued at approximately $381,000. Institutional investors own 99.97% of the company’s stock.
Shares of NYSE DLR traded down $0.39 during midday trading on Friday, hitting $104.12. The stock had a trading volume of 471,371 shares, compared to its average volume of 1,442,762. The firm has a market capitalization of $21,202.48, a P/E ratio of 16.96, a P/E/G ratio of 2.32 and a beta of -0.02. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.25 and a quick ratio of 0.25. Digital Realty has a 1-year low of $96.56 and a 1-year high of $127.23.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This is an increase from Digital Realty’s previous quarterly dividend of $0.93. This represents a $4.04 annualized dividend and a yield of 3.88%. Digital Realty’s payout ratio is currently 65.80%.
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About Digital Realty
Digital Realty supports the data center, colocation and interconnection strategies of more than 2,300 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include domestic and international companies of all sizes, ranging from financial services, cloud and information technology services, to manufacturing, energy, gaming, life sciences and consumer products.
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