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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.
On August 11, 2021, Digital Realty (DLR) announced the declaration of quarterly cash dividends for common and preferred stock for Q3 2021. The cash dividend for common stock is set at $1.16 per share, payable to shareholders of record by September 15, 2021, with payment on September 30, 2021. Additionally, dividends for preferred stock include $0.328125 (Series J), $0.365625 (Series K), and $0.325000 (Series L), all payable on the same date. This decision reflects the company's ongoing commitment to providing returns to its shareholders.
Digital Realty (NYSE: DLR) reported its Q2 2021 financial results, showing a net income of $127 million or $0.45 per diluted share, up from $0.20 in Q2 2020. FFO per share increased to $1.78, compared to $1.49 the previous year. The company signed bookings expected to generate $113 million in annualized GAAP rental revenue, with renewal leases contributing $178 million.
Although Q2 revenues remained steady at $1.1 billion, core FFO per share outlook was revised down to $6.45-$6.50 due to a $0.12 non-cash charge from UK tax rates.
Digital Realty (NYSE: DLR) has acquired land in Seoul, South Korea, to develop a new facility capable of hosting 64 megawatts of IT capacity. This facility, named Digital Seoul 2 (ICN11), will span 970,000 square feet and is projected to be operational by the first half of 2023. The new campus aims to enhance connectivity for global enterprises, supporting growth in data exchange, particularly in sectors like banking and finance. Digital Realty emphasizes its commitment to delivering carrier-neutral solutions to meet growing demand in this rapidly expanding market.
Digital Realty (NYSE: DLR) announced a new collaboration with Zayo Group Holdings to enhance interconnection and security capabilities, marking a significant step in their initiative to build the largest open fabric of interconnecting data centers. This partnership aims to advance digital transformation for multinational enterprises by aligning with their hybrid IT needs. Digital Realty's Data Gravity Index projects significant data growth, with over 620 terabytes per second anticipated by 2024 across key global locations. The initiative is poised to address the growing demand for data infrastructure.
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Digital Realty (DLR) announced the completion of a CHF545 million bond offering, consisting of CHF275 million in 0.20% Swiss bonds due 2026 and CHF270 million in 0.55% Swiss bonds due 2029. The bonds are senior unsecured obligations guaranteed by Digital Realty Trust, L.P. The company plans to use the proceeds for financing green energy projects and may also allocate funds for debt repayment and general corporate purposes. The offering is only available outside the U.S., complying with Regulation S under the Securities Act.
Digital Realty and Brookfield Infrastructure have established a 50/50 joint venture named BAM Digital Realty, focusing on developing and operating data centers in India. This venture is expected to leverage India's growing demand for data services amid increasing digitization and the rollout of 5G. The partnership aims to enhance Digital Realty's PlatformDIGITAL® offering, providing scalable infrastructure for global enterprises. The venture plans to acquire land in multiple Indian metros, with completion anticipated in the second half of 2021, subject to regulatory approvals.
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Interxion: A Digital Realty Company (NYSE: DLR) announced a partnership with Crosslake Fibre to establish direct interconnection from its Paris Campus to the CrossChannel Fibre System, expected to be operational by end-2021. This new subsea cable, the first built across the English Channel in nearly 20 years, will enhance connectivity with ultra-low latency and high capacity. The system features 96 fiber pairs, each exceeding 20 terabits per second. This development will significantly benefit customers in the Paris data centers, facilitating efficient data movement between the UK and mainland Europe.
Digital Realty (NYSE: DLR), a leader in data center solutions, will release its Q2 2021 financial results after the market closes on July 29, 2021. A conference call is scheduled for 5:30 p.m. EDT on the same day, offering investors insights into the company's performance. Interested parties can join the call by dialing the provided numbers or attending the live webcast on Digital Realty's investor website. Replays will be available post-call. Digital Realty operates 290 facilities globally, enhancing connectivity for enterprises and service providers.