PREVIEW: Digital Realty dips as AI demand in focus
Shares of Digital Realty DLR.N falling 0.9% on Thursday, but still near record highs, ahead of quarterly results after the bell, with investors focused on AI-driven data center demand
The data center real estate investment trust is expected to post a 14% rise in quarterly revenue to $1.60 billion and adj EPS of $0.47 vs $0.27 a year ago, per LSEG
In February, the company forecast annual funds from operations (FFO) above estimates, citing strong demand from businesses investing in AI
Stock has surged ~29% YTD, outperforming the S&P 500's .SPX 3.6% gain. Shares have dipped in past three sessions after notching a record high close on Monday
DLR recently traded at 96x forward earnings, close to its five-year average of 99x, per LSEG data
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