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Digital Realty develops and operates a global cloud- and carrier-neutral data center platform for colocation, interconnection, hyperscale deployments and enterprise data infrastructure. Company updates commonly cover PlatformDIGITAL, Pervasive Datacenter Architecture, data-center capacity, customer connectivity, operating workforce development and the infrastructure needs tied to cloud, AI and data-intensive applications.
Recurring news themes also include financial results, capital-structure activity, private-capital funding for hyperscale data centers, strategic fund management, and geographic expansion across major data-center markets. Recent company announcements have addressed U.S. hyperscale data center funding and new or expanded market presence in Southern Europe and the Mediterranean region.
Digital Realty (NYSE: DLR) announced a quarterly cash dividend for its common and preferred stock for Q2 2022. Common stockholders will receive $1.22 per share, payable on June 30, 2022, to those on record as of June 15, 2022. Preferred stock dividends include $0.328125 for Series J, $0.365625 for Series K, and $0.325000 for Series L, all also payable on June 30, 2022. The dividends reflect the company’s commitment to returning income to shareholders while maintaining a strong financial position.
Digital Realty has announced contracts for 158 megawatts (MW) of new solar power in California and Georgia, advancing its goal of 100% renewable energy. The agreement includes a 12-year commitment for a 130 MW solar project in Kern County, California, expected to be completed in late 2022, and participation in Georgia Power's program to procure 28 MW for its Atlanta data center portfolio by 2024. The company has also been recognized by the U.S. EPA and DOE for its sustainability efforts, including achieving ENERGY STAR certification for 34 data centers, helping to significantly reduce carbon emissions.
Digital Realty (DLR) announced its Q1 2022 financial results, reporting a net income of $63.1 million, or $0.22 per diluted share, a significant decrease from $1.32 per share in Q1 2021. Revenue increased to $1.1 billion, up 3% year-over-year. Funds from operations (FFO) per share rose to $1.60, while core FFO remained stable at $1.67. The company signed bookings expected to generate $167 million in annualized GAAP rental revenue. Digital Realty reiterated its core FFO outlook for 2022 at $6.80-$6.90. Total debt stood at approximately $14.4 billion, with a net debt-to-adjusted EBITDA of 6.3x.
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Digital Realty (NYSE: DLR) has agreed to provide a cash flow guarantee to Digital Core REIT (SGX: DCRU) in the wake of a recent customer bankruptcy affecting a significant revenue source. This customer, an IT service provider, accounted for ~$5 million or 7.1% of Digital Core REIT's annual revenue before its bankruptcy filing on April 11, 2022. The customer is current on rental obligations and has secured $95 million in financing. Digital Realty expects minimal impact on its core FFO outlook and emphasizes its commitment to the REIT's success.
Digital Realty has announced the release of its first quarter 2022 financial results after market close on April 28, 2022. Following the release, a conference call will take place at 5:30 p.m. ET to discuss the results. Investors can participate via phone or a live webcast on the company's website. The call will also be available for replay until May 28, 2022. Digital Realty provides cloud- and carrier-neutral data center solutions, supporting a global footprint with over 280 facilities across 25 countries.
Digital Realty (NYSE: DLR) announced the closure of its offering of CHF250 million in Swiss bonds. This includes CHF100 million of 0.600% Swiss bonds maturing in 2023 and CHF150 million of 1.700% Swiss bonds maturing in 2027. The bonds are fully guaranteed by Digital Realty and will be used to repay borrowings, acquire properties, develop opportunities, and other corporate purposes. The offering is made under Regulation S and is not available in the U.S. or to U.S. persons.
Digital Realty (NYSE: DLR) announced the appointment of Jordan Sadler as Senior Vice President of Public and Private Investor Relations, effective mid-April. Sadler has a robust background in the investment sector, previously leading KeyBanc Capital Markets' REIT research and covering over 65 stocks. He replaces John Stewart, now CEO of Digital Core REIT. Digital Realty continues to enhance its global platform, aiming to boost investor outreach and strengthen its market position.
Digital Realty (NYSE: DLR) has announced a 5% increase in its quarterly common stock cash dividend, raising it to $1.22 per share, reflecting confidence in its business strength and cash flows. This is the 17th consecutive year of dividend growth for the company. The common stock dividend will be paid to shareholders of record by March 15, 2022, with payment on March 31, 2022. Additionally, dividends for Series J, K, and L preferred stock will also be distributed on the same dates.
Digital Realty (DLR) reported robust financial results for Q4 2021, with net income of $1.1 billion, translating to $3.71 per diluted share, significantly up from $0.16 in Q4 2020. Funds from Operations (FFO) per share reached $1.54, a slight increase from the previous year. The company signed leases projected to generate $156 million in annualized GAAP revenue. Additionally, 2022 core FFO per share outlook is set at $6.80-$6.90. Notably, the firm completed strategic investments, including a stake acquisition in Teraco, while managing total debt of approximately $13.4 billion.