DIGITAL REALTY TRUST, INC. Quarterly Report for Q1 Ended Mar 31, 2012

Summary

Digital Realty Trust, Inc. (DLR) reported solid performance for the quarter ending March 31, 2012, demonstrating growth in operating revenues driven by new property acquisitions and increased leasing activity in its existing portfolio. The company's strategic focus on technology-related real estate, particularly data centers, continues to yield positive results, with a high occupancy rate and a growing portfolio of properties. Despite a challenging global economic environment, DLR has managed its capital effectively, with a conservative debt-to-enterprise value ratio and adequate liquidity from operations and credit facilities. The company is actively pursuing development and redevelopment opportunities to enhance its portfolio's income-generating potential, while also managing risks associated with interest rate fluctuations and foreign currency exchange. Investors should note the company's commitment to maintaining its REIT status through dividend distributions, supported by consistent operational performance.

Key Highlights

• 1Total operating revenues increased by 12.9% year-over-year to $283.1 million for the three months ended March 31, 2012.
• 2The company acquired six new properties in the twelve months preceding March 31, 2012, expanding its portfolio to 102 properties.
• 3Occupancy rate remained strong at 94.8% (excluding space held for redevelopment) as of March 31, 2012.
• 4Digital Realty Trust maintained a conservative debt-to-enterprise value ratio of approximately 27% as of March 31, 2012.
• 5The company successfully increased its global revolving credit facility capacity to $1.5 billion.
• 6Operating income grew by 15.1% year-over-year to $85.9 million, reflecting revenue growth and efficient cost management.
• 7The company generated $62.7 million in net proceeds from its At-the-Market equity distribution program during the quarter.

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