NYSE$DLR
Digital Realty Trust Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported mixed results with revenue increase offset by net income decline, strategic investments and partnerships were forged to position for future growth.
Digital Realty reported Q4 2023 results with revenues of $1.4 billion, an 11% increase year-over-year. Net income was $20 million, a significant decrease from the previous quarter. The company signed total bookings expected to generate $110 million in annualized GAAP rental revenue and introduced a 2024 Core FFO per share outlook of $6.60 - $6.75.
- Reported net income available to common stockholders of $0.08 per share in 4Q23, compared to ($0.02) in 4Q22
- Reported FFO per share of $1.53 in 4Q23, compared to $1.45 in 4Q22
- Reported Core FFO per share of $1.63 in 4Q23, compared to $1.65 in 4Q22
- Signed total bookings during 4Q23 that are expected to generate $110 million of annualized GAAP rental revenue
Headline financials
Revenue & EPS history
Digital Realty · Revenue · Quarterly
$1.37B
Revenue by segment
Digital Realty · $12.1M total across 1 segment · Q3 2023
- Interconnection and other$12.1M-87.3%100.0%
Forward guidance
Digital Realty introduced its 2024 Core FFO per share and Constant-Currency Core FFO per share outlook of $6.60 - $6.75.
Tailwinds
- Total revenue: $5.550 - $5.650 billion
- Adjusted EBITDA: $2.800 - $2.900 billion
- Cash basis rental rates on renewal leases: 4.0% - 6.0%
- GAAP basis rental rates on renewal leases: 6.0% - 8.0%
- Year-end portfolio occupancy: +100 - 200 bps
Headwinds
- Net non-cash rent adjustments: ($35 - $40 million)
- G&A: $450 - $460 million
- Same-Capital cash NOI growth: 2.0% - 3.0%
- U.S. Dollar / Pound Sterling: $1.25 - $1.30
- U.S. Dollar / Euro: $1.05 - $1.10
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.4%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.8%
Avg return
30 days after
48%
32 / 67 earnings
Positive
+9.2%
Q3 2024
Best reaction
-15.6%
Q3 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | +0.5% | -3.9% | |
| Q4 2025 | +0.0% | -2.7% | -3.9% | |
| Q3 2025 | +2.2% | -4.7% | -10.4% | |
| Q2 2025 | +0.4% | -0.5% | +4.4% | |
| Q1 2025 | +4.0% | +4.4% | +9.3% | |
| Q4 2024 | -0.3% | +2.9% | -9.9% | |
| Q3 2024 | +9.2% | +10.3% | +14.5% | |
| Q2 2024 | -4.0% | -4.4% | +0.3% | |
| Q1 2024 | +6.5% | +4.8% | +5.3% | |
| Q4 2023 | -4.2% | -5.0% | -1.0% | |
| Q3 2023 | +4.6% | +6.3% | +16.7% | |
| Q2 2023 | +3.5% | +4.0% | +6.2% | |
| Q1 2023 | +1.5% | -3.0% | +1.2% | |
| Q4 2022 | -2.5% | -4.6% | -11.4% | |
| Q3 2022 | -1.6% | -1.3% | +9.6% | |
| Q2 2022 | +2.5% | +0.0% | -3.0% | |
| Q1 2022 | -1.4% | -4.0% | -4.5% | |
| Q4 2021 | +0.4% | +1.0% | +3.3% | |
| Q3 2021 | +0.1% | +0.7% | +6.1% | |
| Q2 2021 | +0.0% | +0.6% | +3.9% | |
| Q1 2021 | +4.9% | +4.0% | +3.0% | |
| Q4 2020 | -5.1% | -7.0% | -9.0% | |
| Q3 2020 | -3.7% | -2.7% | -8.8% | |
| Q2 2020 | +2.1% | +2.5% | -1.9% | |
| Q1 2020 | -3.1% | -11.2% | -5.6% | |
| Q4 2019 | +3.5% | +4.8% | +12.8% | |
| Q3 2019 | -2.2% | -4.1% | -8.4% | |
| Q2 2019 | +2.8% | +5.4% | +11.1% | |
| Q1 2019 | -2.1% | -1.3% | +0.6% | |
| Q4 2018 | -1.3% | +2.8% | +3.1% | |
| Q3 2018 | -8.4% | -10.1% | -5.4% | |
| Q2 2018 | +3.5% | +3.8% | +5.7% | |
| Q1 2018 | +6.2% | +3.5% | +5.0% | |
| Q4 2017 | -2.9% | -5.4% | +1.0% | |
| Q3 2017 | -4.4% | -3.0% | -3.0% | |
| Q2 2017 | -0.1% | +3.8% | +4.3% | |
| Q1 2017 | +3.3% | +1.4% | +5.9% | |
| Q4 2016 | -0.3% | +0.3% | -1.5% | |
| Q3 2016 | -4.1% | -7.0% | -5.8% | |
| Q2 2016 | -0.9% | -0.7% | -5.6% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | -1.9% | — | — | |
| Q3 2015 | +2.0% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | -0.7% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | -0.6% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | +3.0% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | -15.6% | — | — | |
| Q2 2013 | -9.0% | — | — | |
| Q1 2013 | -2.7% | — | — | |
| Q4 2012 | -1.1% | — | — | |
| Q3 2012 | -4.2% | — | — | |
| Q2 2012 | +2.7% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | +2.3% | — | — | |
| Q3 2011 | +1.5% | — | — | |
| Q2 2011 | -10.2% | — | — | |
| Q1 2011 | +1.1% | — | — | |
| Q4 2009 | +1.1% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q3 2010 | -0.9% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q2 2009 | +1.2% | — | — | |
| Q1 2010 | -4.6% | — | — |
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