Summary
Digital Realty Trust, Inc. (DLR) filed an 8-K on January 31, 2013, to provide revised financial guidance for the fiscal year and fourth quarter ended December 31, 2012, and initial guidance for the fiscal year ending December 31, 2013. The company is communicating these updates during its 2013 Analyst Day. Key metrics discussed include Funds from Operations (FFO), core FFO, EBITDA, and Adjusted EBITDA, with preliminary, unaudited figures presented for the 2012 periods. This filing is crucial for investors seeking to understand DLR's recent performance trends and future outlook as projected by management. The report highlights the preliminary financial estimates for the full year and fourth quarter of 2012, including ranges for net income per share, FFO per share, and core FFO per share. It also provides projected EBITDA and Adjusted EBITDA for both periods. Furthermore, the company expects net operating income (NOI) growth in the range of $130 million to $140 million for 2012 and anticipates significant development/redevelopment spending of $747 million in 2012. While these are non-GAAP measures, they are commonly used by investors and analysts to evaluate REIT performance.
Key Highlights
- 1DLR provided revised full-year and Q4 2012 financial guidance during its 2013 Analyst Day.
- 2Full-year 2012 projected FFO per diluted share is estimated to be between $4.42 and $4.44.
- 3Full-year 2012 projected core FFO per diluted share is estimated to be between $4.44 and $4.46.
- 4Q4 2012 projected FFO per diluted share is estimated to be between $1.14 and $1.16.
- 5Q4 2012 projected core FFO per diluted share is estimated to be between $1.17 and $1.19.
- 6Full-year 2012 projected EBITDA is estimated between $714 million and $716 million.
- 7Full-year 2012 projected Adjusted EBITDA is estimated between $756 million and $758 million.
- 8Expected NOI growth for 2012 (compared to 2011) is projected between $130 million and $140 million.
- 9Development/redevelopment spending for 2012 is projected at $747 million.