1Q24 FINANCIAL RESULTS May 2, 2024 Global. Connected. Sustainable. The meeting place for companies, ...

财务数据和关键指标变化 - 第一季度签订了创纪录的2.52亿美元新租约,其中1.75亿美元来自大于1兆瓦的租约,另外5300万美元来自0-1兆瓦加上互联的租约 [35][36] - 由于创纪录的租赁,签约但未开始的租赁订单增加到5.41亿美元,创下新纪录 [36] - 第一季度续租额达到2.48亿美元,创下新纪录,现金续租价格上涨11.8% [37][38] - 同店现金NOI同比增长4.7%,连续第五个季度实现正增长 [39] 各条业务线数据和关键指标变化 - 大于1兆瓦租约的现金续租价格上涨18.5%,创下新纪录 [38] - 0-1兆瓦加上互联租约连续第三个季度超过5000万美元 [18] - 新增128个新客户标志,创下第四高纪录 [24] 各个市场数据和关键指标变化 - 北弗吉尼亚地区在第一季度租赁了约80兆瓦容量,该地区供应仍然紧张 [27][28] - 伦敦、法兰克福和阿姆斯特丹在0-1兆瓦类别表现出色,而伦敦在大于1兆瓦类别也是一个大贡献者 [111] - 新加坡、香港和首尔在0-1兆瓦类别表现强劲 [111] 公司战略和发展方向及行业竞争 - 公司继续专注于战略重点,为不断扩大的5000多家客户提供服务 [11][12] - 公司通过与战略资本合作伙伴的合资企业,加强资产负债表并多元化资本来源 [15] - 公司正在开发私有AI交换机,使企业数据成为AI架构的中心 [14] - 公司预计未来数据中心需求将以两位数的复合年增长率增长,推动因素包括企业AI采用、AI即服务、物联网等 [20][21] 管理层对经营环境和未来前景的评论 - 公司在第一季度经历了加速的动力,主要由人工智能带来的多方面机会推动 [11] - 公司认为人工智能将像云计算一样逐步全球化,但时间尚不确定 [137][138] - 公司对未来保持乐观,认为AI、云计算和企业数字化转型三大驱动力没有放缓迹象 [141][142] 问答环节重要的提问和回答 问题1 **John Peterson 提问** 询问公司在合资企业中的租赁情况以及北美地区开发项目的预期收益率 [60][61] **Andrew Power 回答** 大部分租赁并未进入合资企业,北美地区开发项目的预期收益率已提升至12.3% [64][65] 问题2 **Jonathan Atkin 提问** 询问公司未来核心FFO增长的潜在推动因素 [68] **Matthew Mercier 回答** 公司预计未来核心FFO增长将达到中个位数,主要由稳定同店业务4%左右增长,加上新开发项目带来的约2%增长,部分被利率上升等因素抵消 [69][70][71] 问题3 **Eric Luebchow 提问** 询问公司在北弗吉尼亚地区的电力升级时间表以及该地区租金水平对收益率的影响 [73][74] **Andrew Power 回答** 公司预计Dominion Energy的南线输电项目将于2026年初完工,该地区租金水平持续上升,目前在165-180美元/千瓦左右 [74][75][76]

Table of Contents Exhibit 99.1 ...

There are some REITs to avoid in this continued “higher for longer” interest rate environment. These investment vehicles are particularly sensitive to rising interest rates due to their reliance on debt financing. In this economic climate, REITs with high leverage ratios, short-term debt maturities and limited cash flows may struggle to maintain profitability and dividend payouts.Moreover, certain sectors within the REIT universe are more vulnerable than others. For instance, mortgage REITs (mREITs), which ...

The Federal Reserve is not purposefully trying to crash the economy, but it might end up doing so anyway. Because out-of-hand government spending reignited inflation’s rise, the Fed is no longer eager to cut sky-high interest rates. It’s even being whispered the central bank could even raise rates again.Threading the needle between interest rates, politician-induced inflation and the economy is no easy task, and why central bankers are a problem for the average consumer. The whole enterprise can end up in a ...

Wall Street analysts forecast that Digital Realty Trust (DLR) will report quarterly earnings of $1.63 per share in its upcoming release, pointing to a year-over-year decline of 1.8%. It is anticipated that revenues will amount to $1.36 billion, exhibiting an increase of 1.8% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 1.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsidera ...

AUSTIN, Texas, April 24, 2024 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today that Susan Swanezy, a 30-year veteran of institutional real estate and infrastructure private capital raising, has been appointed to the company's Board of Directors as an independent director, effective April 23, 2024. "We are delighted to welcome Susan to our Board of Directors," said Mary Hogan Preusse, C ...

维护资本支出 - Equinix, Inc. (EQIX)的维护资本支出指控基本属实，公司的高倍数估值在调整重复资本支出前就已经很高[2] - Digital Realty Trust, Inc. (NYSE:DLR)可能将部分“维护资本支出”结构化为“扩张/增长资本支出”，这可能在DLR和EQIX两种情况下都存在，尽管不违反任何会计规则，但在我看来是一个负面指标[3] DLR基本面表现 - DLR的基本面表现不佳，尽管在“同资本现金净营业收入”和“自2015年以来实现最高现金续约差额”方面取得了出色增长，但核心FFO每股增长为负1.65%，2024年的核心FFO每股增长预期仍然低于2022年的结果和2023年初的指导[21] - DLR在未来几年将面临债务到期和需要以更高利率再融资的挑战，这将对公司的AFFO每股增长构成重大阻力[32] - DLR可能无法通过发行新股来减轻每股的负面影响，因为这可能导致债务每股增加，进而增加利息支出的负面影响[36] DLR市场定价 - DLR的市场定价被认为过高，公司的基本面可能无法从人工智能获得足够大的提升，尽管现金租赁差额有所改善，但空置率却在上升[44]

Artificial intelligence (AI) is Wall Street’s new obsession, with companies discussing the technology in a snowballing fashion and helping to keep market sentiment positive.Interestingly enough, there are several stocks investors can tap into for AI exposure, including Vertiv (VRT) , Digital Realty Trust (DLR) , Iron Mountain (IRM) , Modine Manufacturing (MOD) , and Comfort Systems USA (FIX) .For those interested in exposure to the technology, more specifically the data center side of things, let’s take a c ...

REIT行业积极因素 - REIT行业存在积极因素，尤其是在选择性投资和正确的REIT公司方面[2] - 大多数房地产领域仍表现良好，包括数据中心、工业物业、制造住宅社区和老年住房等[8][9][10] - REIT资产负债表目前处于历史最强劲状态，大多数公司负债较少，平均贷款价值比(LTV)仅为35%[12][13] 利率影响 - 高利率将导致低供应，对公寓和自存储REITs有利[4] - 利率很可能在短期内降低，这将对REITs产生积极影响[17][20] 估值和股票回购 - 相对于股票，REITs的估值目前异常低，许多公司正在进行股票回购以为股东创造价值[22][24]