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Dec 31, 2021
Digital Realty Q4 2021 Earnings Report
Reported strong fourth-quarter results driven by record bookings and strategic investments.
Key Takeaways
Digital Realty reported Q4 2021 revenues of $1.1 billion, a 2% decrease from the previous quarter but a 5% increase from the same quarter last year. Net income was $1.1 billion, or $3.71 per diluted share. The company signed total bookings expected to generate $156 million of annualized GAAP rental revenue.
Reported net income available to common stockholders of $3.71 per share in 4Q21, compared to $0.16 in 4Q20
Reported FFO per share of $1.54 in 4Q21, compared to $1.45 in 4Q20
Reported core FFO per share of $1.67 in 4Q21, compared to $1.61 in 4Q20
Signed total bookings during 4Q21 expected to generate $156 million of annualized GAAP rental revenue, including an $11 million contribution from interconnection
Digital Realty
Digital Realty
Digital Realty Revenue by Segment
Digital Realty Revenue by Geographic Location
Revenue by Segment
Interconnection Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.com Forward Guidance
Digital Realty introduced its 2022 core FFO per share outlook of $6.80-$6.90.
Positive Outlook
- Total revenue: $4.700 - $4.800 billion
- Adjusted EBITDA: $2.475 - $2.525 billion
- Rental rates on renewal leases: GAAP basis - Slightly positive
- Year-end portfolio occupancy: 83.0% - 84.0%
- Average stabilized yields: 9.0% - 15.0%
Challenges Ahead
- Net non-cash rent adjustments: ($35) - ($40) million
- G&A: $410 - $420 million
- Rental rates on renewal leases: Cash basis - Flat
- Same-capital cash NOI growth: (2.5%) - (3.5%)
- Dispositions: Cap rate - 0.0% - 10.0%