Sunday, June 27, 2010

Digital Realty Trust - Now Over Half the Size of Office REIT Boston Properties

Digital Realty (DLR) announced its 2Q earnings call will be held Friday, July 23rd at 1pm EDT. During its 1st quarter call, the company raised annual Funds from Operations guidance 8 cents, from 3.26 to 3.38 a share. Average rents on leases signed during the 1st quarter were $141.

DLR's 1st quarter revenue of $191 million was a 28% year-over-year increase over Q1 2009, and put it at over half of the level of leading office REIT Boston Properties (BXP), which was flat over the same period. So in a few years, the largest public REIT could very well be a data center provider.

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