Digital Realty Trust, Inc. - DLR STOCK NEWS

Digital Realty (NYSE: DLR) announced leadership changes on November 1, 2021, appointing Andrew P. Power as President while retaining his role as Chief Financial Officer. Erich J. Sanchack has been named Chief Operating Officer, reporting to Power. CEO A. William Stein expressed confidence that these changes will enhance competitive advantages and drive future growth, emphasizing a strengthened operational and strategic focus.

Pegasus Digital Mobility Acquisition Corp. (NYSE: PGSS.U) announced the appointment of four independent directors following its $200 million IPO on October 26, 2021. The board aims to enhance value for potential target companies. New directors include Steve Norris, Florian Wolf, John Doherty, and Jeff Foster, bringing extensive experience in transportation, investment banking, and corporate development. Chairman Dr. Sir Ralf Speth emphasized the importance of a structured organization to attract innovative businesses in the next-generation transportation sector, particularly in Europe.

Digital Realty (DLR) reported a strong third quarter of 2021, with net income of $124 million, or $0.44 per diluted share, compared to a loss of ($0.14) in 3Q20. Total revenue increased by 11% year-over-year to $1.1 billion. Funds from operations (FFO) per share rose to $1.54, a significant increase from $1.19 in the previous year. The company raised its core FFO per share outlook to $6.50-$6.55. Additionally, Digital Realty signed new leases expected to generate $113 million in annual GAAP rental revenue, highlighting robust leasing activity.

Digital Realty (NYSE: DLR) and Pembani Remgro Infrastructure Fund have formed a joint venture to acquire Medallion Data Centres, Nigeria's top colocation and interconnection provider.

Medallion operates data centers in Lagos and Abuja, with Lagos being a major connectivity hub in West Africa. This acquisition supports Digital Realty's expansion in Africa, as the continent's internet economy is expected to grow from $115 billion in 2020 to $180 billion by 2025. The deal also includes land for future expansion near the Lagos facility.

Digital Realty (NYSE: DLR) announced a strategic investment in AtlasEdge Data Centres, enhancing its edge data center capabilities in Europe. Effective January 2022, Giuliano Di Vitantonio will transition to CEO of AtlasEdge from Digital Realty. The investment aims to meet the increasing demand for localized, low-latency digital infrastructure across Europe, as AtlasEdge operates over 100 facilities positioned for cloud providers, gaming, and IoT services. The transaction is expected to close by year-end 2021.

Digital Realty (DLR) announced it will release its third quarter 2021 financial results on October 26, 2021, after market close. A conference call to discuss these results will be held at 5:30 p.m. EDT. Investors can join the call by dialing +1 (888) 317-6003 for domestic or +1 (412) 317-6061 for international participants. A live webcast will also be available on the company's investor relations website.

Digital Realty operates 291 facilities in 47 metros across 24 countries, providing robust data center solutions.

Digital Realty (NYSE: DLR) has officially closed its joint venture with Brookfield Infrastructure (NYSE: BIP) in India, receiving all necessary regulatory approvals. This collaboration aims to expand Digital Realty's PlatformDIGITAL® in India, catering to the growing data center market. The newly appointed CEO, Seema Ambastha, brings over 30 years of IT experience. Brookfield Infrastructure's data assets, valued at $23 billion, will support this initiative, targeting expansion from 139,000 to 175,000 telecom towers in India. This strategic move is expected to enhance the digital ecosystem in the region.

Interxion: A Digital Realty Company (NYSE: DLR) has completed the third phase of its Amsterdam Data Tower expansion, adding 2.4 megawatts of capacity across four floors. This facility is situated in the Amsterdam Science Park, a hub for telecom carriers and service providers. The expansion addresses challenges related to data gravity, enhancing customer access to connectivity providers and facilitating faster data exchanges. With Amsterdam's high data gravity intensity, this development positions Interxion to capitalize on growing opportunities in the digital economy.

Digital Realty has announced a public offering of 6,250,000 shares of its common stock at $160.50 per share, with underwriters having the option to purchase an additional 937,500 shares. The offering, led by BofA Securities, Citigroup, and J.P. Morgan, is set to close on September 13, 2021. Though the company will not receive initial proceeds from the sale, it plans to utilize net proceeds for repaying debt, funding development, and other corporate purposes upon settlement of forward sale agreements expected by March 13, 2023.