San Francisco-based Digital Realty, a leading global provider of data center, colocation and interconnection solutions, expects to deliver 2019 core FFO per share within a range of $6.60-$6.70. Excluding foreign currency translation and adoption of the new lease accounting standard, which are expected to have a negative impact of approximately 1%-2% and 2%-3%, respectively, the initial 2019 outlook represents year-over-year growth of over 5% from the midpoint of 2018 core FFO per share guidance of $6.55-$6.65.
“The strength of our global, connected, sustainable platform – supported by durable secular demand drivers – provides the framework for our expectation of continued growth in earnings, cash flow and dividends per share in 2019 and beyond,” said Chief Executive Officer A. William Stein.
“In 2018, we significantly expanded our global platform with our entry into Latin America, secured our supply chain with major strategic land purchases in key metro areas, and further strengthened our investment grade balance sheet with a $1.1 billion forward equity offering, pre-funding our capital spending needs into 2020,” added Chief Financial Officer Andrew P. Power. “These initiatives enhance our long-term ability to power our customers’ digital ambitions around the world, while bolstering our commitment to delivering long-term sustainable growth for our customers, shareholders and employees.”
Digital Realty supports the data center, colocation and interconnection strategies of more than 2,300 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Latin America, Asia and Australia. Digital Realty’s clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare and consumer products.