DLR 4Q21 Quick Take: Results Okay, Guidance Better
What’s new: DLR 4Q21 results beat on revenue (driven by utilities reimbursements, as recurring revenue actually missed) but were a hair behind consensus on EBITDA, with lower property taxes and insurance costs almost, but not entirely, offsetting the weakness in recurring revenue. Core FFO still met expectations on lower interest expense, but AFFO missed materially on much higher recurring capex and slightly higher cash taxes.Digital Realty Trust is a real estate investment trust. The company is a global provider of data center, colocation and interconnection solutions for customers across a variety of industry verticals ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products. The company's Operating Partnership, Digital Realty Trust, L.P., is the entity through which the company conducts its business of owning, acquiring, developing and operating data centers. The company's portfolio of data centers provides available environments for the exchange, processing and storage of electronic information.
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