177.32
0.75%
1.32
After Hours:
177.25
-0.07
-0.04%
Overview
News
Price History
Option Chain
Financials
Why DLR Down?
Discussions
Forecast
Dividend History
Why is Digital Realty Trust Inc (DLR) Stock down?
16 Feb, 2024:
Digital Realty (DLR) stock declined by 8.34% attributed to the company's fourth-quarter financial performance missing estimates. Despite reporting core funds from operations (FFO) per share of $1.63 for Q4 2023, which met expectations, DLR's revenues fell short of the Zacks Consensus Estimate by a penny.
- Revenue Misses Expectations: Digital Realty's fourth-quarter operating revenues of $1.37 billion missed the Zacks Consensus Estimate of $1.40 billion. The shortfall was primarily driven by lower-than-expected revenues, despite experiencing growth in operating revenues due to robust leasing activity. However, rising operating expenses acted as a dampener in the quarter, impacting the overall financial performance of the company.
- Mixed Outlook for 2024: DLR provided a mixed outlook for 2024, acknowledging challenges and opportunities in the market. Despite the uncertainties, Digital Realty's president & CEO, Andy Power, emphasized the company's efforts in diversifying its capital sources and capitalizing on opportunities in the AI sector.
- Rising Operating Expenses: Total operating expenses increased by 11.1% year over year to $1.24 billion. This rise was primarily attributed to higher costs related to utilities, rental property operations, general administration, transaction and integration expenses, provision for impairment, and other expenses.
Open in Yahoo
|
Open in Google
|
Open in Finviz
|
Open in MarketWatch
|
Open in EDGAR
|
Open in Reuters
Cap:
|
Volume (24h):