Digital Realty Trust, Inc. Reports Full Year 2012 FFO Of $4.44 Per Share And Core FFO Of $4.46 Per Share

 Digital Realty Trust, Inc. Reports Full Year 2012 FFO Of $4.44 Per Share And
                         Core FFO Of $4.46 Per Share

PR Newswire

SAN FRANCISCO, Feb. 15, 2013

SAN FRANCISCO, Feb. 15, 2013 /PRNewswire/ --Digital Realty Trust, Inc. (NYSE:
DLR), a leading global provider of data center solutions, today announced
financial results for its fourth quarter and for the full year ended December
31, 2012. All per share results are on a diluted share and unit basis, except
net income per share results are on a diluted share basis.

Highlights:

  oReported FFO of $4.44 per share for the year ended December 31, 2012, up
    9.4% from $4.06 per share for the year ended December 31, 2011. Excluding
    certain items that do not represent ongoing expenses or revenue streams in
    each full year, 2012 core FFO was $4.46 per share, up 9.0% from 2011 core
    FFO of $4.09 per share;
  oReported FFO of $1.16 per share for the fourth quarter of 2012, up 13.7%
    from $1.02 per share for the fourth quarter of 2011. Excluding certain
    items that do not represent ongoing expenses or revenue streams in each
    quarter, fourth quarter 2012 core FFO was $1.19 per share, up 15.5% from
    fourth quarter 2011 core FFO of $1.03 per share;
  oReported net income for the year ended December 31, 2012 of $216.0 million
    and net income available to common stockholders of $171.7 million, or
    $1.48 per share, up 12.1% from $1.32 per share for the year ended December
    31, 2011;
  oSet record for leases commenced during the full year 2012 totaling
    approximately $134.9 million in annualized GAAP rental revenue;
  oSigned leases during 2012 totaling over $105.7 million in annualized GAAP
    rental revenue;
  oTo date in 2013, signed leases totaling $31.4 million in annualized GAAP
    rental revenue;
  oAcquired 13 properties totaling approximately 3.3 million square feet for
    approximately $1.6 billion, and a 164,000 square foot property in Hong
    Kong acquired through an investment in an unconsolidated joint venture, in
    2012;
  oIncreased 2013 quarterly common stock dividend by 6.8% to $0.78 per share;
  oIn January 2013, closed our inaugural international bond offering with a
    £400 million 12-year unsecured notes issuance; and
  oConfirming 2013 FFO guidance range of $4.65 – $4.80 per share, up 6.4% at
    the midpoint from 2012 FFO of $4.44 per share and 2013 core FFO guidance
    range of $4.70 – $4.85 per share, up 7.1% at the midpoint from 2012 core
    FFO of $4.46 per share.

Funds from operations ("FFO") on a diluted basis was $159.4 million in the
fourth quarter of 2012, or $1.16 per share, up 2.7% from $1.13 per share in
the previous quarter, and up 13.7% from $1.02 per share in the fourth quarter
of 2011. For the year ended December 31, 2012, FFO on a diluted basis was
$583.5 million, or $4.44 per share, up 9.4% from $4.06 per share in 2011.

"Adjusting for items that do not represent ongoing expenses or revenue
streams, fourth quarter 2012 core FFO was approximately $4.1 million higher
than reported FFO, or $1.19 per share, up 15.5% from fourth quarter 2011 core
FFO of $1.03 per share," said A. William Stein, Chief Financial Officer and
Chief Investment Officer of Digital Realty. "Similarly, full year 2012 core
FFO was $4.46 per share after adjusting for non-core items. This reflects a
9.0% increase over full year 2011 core FFO of $4.09 per share."

FFO is a supplemental non-GAAP performance measure used by the real estate
industry to measure the operating performance of real estate investment
trusts. FFO and core FFO should not be considered as substitutes for net
income determined in accordance with U.S. GAAP as measures of financial
performance. A reconciliation from U.S. GAAP net income available to common
stockholders to FFO and core FFO and definitions of FFO and core FFO are
included as an attachment to this press release.

Net income for the fourth quarter of 2012 was $55.9 million, compared to $56.9
million for the third quarter of 2012 and $47.2 million for the fourth quarter
of 2011. Net income available to common stockholders in the fourth quarter of
2012 was $44.8 million, or $0.36 per share, compared to $45.6 million, or
$0.37 per share, in the third quarter of 2012, and $36.0 million, or $0.34 per
share in the fourth quarter of 2011. For the year ended December 31, 2012,
net income was $216.0 million, up 33.3% over 2011 net income of $162.1
million. Net income available to common stockholders for the year ended
December 31, 2012 was $171.7 million, or $1.48 per share, up 12.1% from $1.32
per share in 2011.

The Company reported total operating revenues of $349.7 million in the fourth
quarter of 2012, up 29.2% from $270.6 million in the fourth quarter of 2011,
and total operating revenues of $1.3 billion for the year ended December 31,
2012, up 18.2% from $1.1 billion in 2011.

"We are very pleased to deliver another solid year of earnings growth for our
shareholders in 2012. We continued to expand into key high demand global
markets while capturing significant demand for data center space in top
markets across North America," said Michael F. Foust, Chief Executive Officer
of Digital Realty. "We are very encouraged by the $31.4 million in annualized
GAAP rental revenue that we have signed to date in 2013 which already
represents our strongest first quarter for lease signings ever."

Acquisitions Activity

In November 2012, the Company acquired a 271,000 square foot space held for
development located on 34.31 acres of land in Totowa, New Jersey for a
purchase price of $16.8 million. The Company plans to develop the existing
building to accommodate 15 megawatts of critical IT load and construct a 50
megawatt onsite substation to support the development of additional data
center capacity in future phases. In December 2012, the Company completed the
acquisitions of a fully leased 52,000 square-foot data center in Sydney,
Australia for AU$11.75 million and a three-property data center portfolio in
the Paris, France metro area for €60.0 million. Structured as a
sale-leaseback transaction, the properties acquired in Paris total
approximately 186,000 rentable square feet with nearly five megawatts of IT
capacity.

During the full year 2012, the Company acquired 13 properties totaling
approximately 3.3 million square feet for approximately $1.6 billion, and a
164,000 square foot property in Hong Kong acquired through an investment in an
unconsolidated joint venture.

As of February 15, 2013, the Company's portfolio comprised 117 properties,
excluding three properties held in unconsolidated joint ventures, consisting
of 168 buildings totaling approximately 21.9 million net rentable square feet,
including 2.4 million square feet of space held for development. The
portfolio is strategically located in 32 key technology markets throughout
North America, Europe, Asia and Australia.

Balance Sheet Update

Total assets grew to approximately $8.8 billion at December 31, 2012 from $6.1
billion at December 31, 2011. Total debt increased to $4.3 billion at
December 31, 2012 from $2.9 billion at December 31, 2011. Stockholders' equity
was approximately $3.5 billion at December 31, 2012, up from over $2.5 billion
at December 31, 2011.

In January 2013, the Company closed its inaugural international bond offering
with a £400 million 12-year unsecured notes issuance, interest on which is
payable semiannually in arrears at a rate of 4.250% per annum.

2013 Outlook

FFO per share for the year ending December 31, 2013 is projected to be between
$4.65 and $4.80. This guidance represents expected FFO growth of 4.7% to 8.1%
over 2012 FFO of $4.44 per share. Core FFO per share for the year ending
December 31, 2013, which excludes items that do not represent ongoing expenses
or revenue streams, is projected to be between $4.70 and $4.85. This guidance
represents projected core FFO growth of 5.4% to 8.7% over 2012 core FFO of
$4.46 per share. A reconciliation of the range of 2013 projected net income
to projected FFO and core FFO follows:

                                                                  Low - High
Net income available to common stockholders per diluted share $1.37 – 1.52
 Add:
Real estate depreciation and amortization                         $3.43
 Less:
Dilutive impact of convertible stock                              ($0.15)
 Projected FFO per diluted share              $4.65– 4.80
Adjustments for items that do not represent core expenses and     $0.05
revenue streams
 Projected core FFO per diluted share         $4.70 – 4.85

The 2013 guidance provided by Digital Realty in this press release is based on
the following assumptions as of February 15, 2013:

  oData center space delivered representing approximately $986 million of
    investment and generating ROI of 10% - 12%;
  oDigital Design Services revenue of $2 – $4 million;
  oAcquisitions of income producing properties totaling $300 – $400 million
    at an average cap rate of 7.25% - 7.75%;
  oDevelopment and redevelopment capital expenditures of $850 - $950 million;
  oPortfolio capital expenditures (recurring and non-recurring) of $60 – $75
    million;
  oTotal G&A expenses of $65 – $68 million;
  oTransaction expenses of $6 – $9 million; and
  oFX rates (USD per currency): Euro = 1.30; Pound = 1.57; SGD = 0.81; and
    AUS = 1.03.

Investor Conference Call Details

Digital Realty will host a conference call on Friday, February 15, 2013 at
10:00 am PT / 1:00 pm ET to discuss its fourth quarter and full year 2012
financial results and operating performance. The conference call will feature
Chief Executive Officer, Michael F. Foust, and Chief Financial Officer and
Chief Investment Officer, A. William Stein. To participate in the live call,
investors are invited to dial +1 (888) 701-6680 (domestic callers) or +1 (706)
634-5458 (international callers) and quote the conference ID #88753411 at
least five minutes prior to start time. A live webcast of the call will be
available via the Investors section of Digital Realty's website at
www.digitalrealty.com. Please go to the website at least 15 minutes early to
register and download and install any necessary audio software. If you are
unable to listen to the live conference call, a telephone and webcast replay
will be available until 11:59 pm ET on Friday, March 1, 2013. The telephone
replay can be accessed two hours after the call by dialing +1 (855) 859-2056
(domestic callers) or +1 (404) 537-3406 (for international callers) and using
the conference ID #88753411. The webcast replay can be accessed on Digital
Realty's website immediately after the live call has concluded.

About Digital Realty

Digital Realty Trust, Inc. focuses on delivering customer driven data center
solutions by providing secure, reliable and cost effective facilities that
meet each customer's unique data center needs. Digital Realty's customers
include domestic and international companies across multiple industry
verticals ranging from information technology and Internet enterprises, to
manufacturing and financial services. Digital Realty's 117 properties,
excluding three properties held as investments in unconsolidated joint
ventures, comprise approximately 21.9 million square feet as of February 15,
2013, including 2.4 million square feet of space held for development. Digital
Realty's portfolio is located in 32 markets throughout Europe, North America,
Asia and Australia. Additional information about Digital Realty is included in
the Company Overview, which is available on the Investors page of Digital
Realty's website at http://www.digitalrealty.com.

Safe Harbor Statement

This press release contains forward-looking statements which are based on
current expectations, forecasts and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to differ
materially, including statements related to the Company's 2013 guidance and
its underlying assumptions, supply and demand for data center space, rent from
leases that have been signed but have not yet commenced and other contracted
rent to be received in future periods, development and redevelopment plans,
and expected timing, size and IT capacity of development and redevelopment
projects, and expectations regarding the Company's future growth and success.
These risks and uncertainties include, among others, the following: the impact
of the recent deterioration in global economic, credit and market conditions,
including the downgrade of the U.S. government's credit rating; current local
economic conditions in our geographic markets; decreases in information
technology spending, including as a result of economic slowdowns or recession;
adverse economic or real estate developments in our industry or the industry
sectors that we sell to (including risks relating to decreasing real estate
valuations and impairment charges); our dependence upon significant tenants;
bankruptcy or insolvency of a major tenant or a significant number of smaller
tenants; defaults on or non-renewal of leases by tenants; our failure to
obtain necessary debt and equity financing; increased interest rates and
operating costs; risks associated with using debt to fund our business
activities, including re-financing and interest rate risks, our failure to
repay debt when due, adverse changes in our credit ratings or our breach of
covenants or other terms contained in our loan facilities and agreements;
financial market fluctuations; changes in foreign currency exchange rates; our
inability to manage our growth effectively; difficulty acquiring or operating
properties in foreign jurisdictions; our failure to successfully integrate and
operate acquired or redeveloped properties or businesses; risks related to
joint venture investments, including as a result of our lack of control of
such investments; delays or unexpected costs in development or redevelopment
of properties; decreased rental rates or increased vacancy rates; increased
competition or available supply of data center space; our inability to
successfully develop and lease new properties and space held for
redevelopment; difficulties in identifying properties to acquire and
completing acquisitions; our inability to acquire off-market properties; our
inability to comply with the rules and regulations applicable to reporting
companies; our failure to maintain our status as a REIT; possible adverse
changes to tax laws; restrictions on our ability to engage in certain business
activities; environmental uncertainties and risks related to natural
disasters; losses in excess of our insurance coverage; changes in foreign laws
and regulations, including those related to taxation and real estate ownership
and operation; and changes in local, state and federal regulatory
requirements, including changes in real estate and zoning laws and increases
in real property tax rates. For a further list and description of such risks
and uncertainties, see the reports and other filings by the Company with the
U.S. Securities and Exchange Commission, including the Company's Annual Report
on Form 10-K for the year ended December 31, 2011 and Quarterly Reports on
Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September
30, 2012. The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.

For Additional Information:
A. William Stein                 Pamela Matthews Garibaldi
Chief Financial Officer and      Vice President, Investor Relations and
Chief Investment Officer         Corporate Marketing
Digital Realty Trust, Inc.       Digital Realty Trust, Inc.
+1 (415) 738-6500                +1 (415) 738-6500

Digital Realty Trust, Inc. and Subsidiaries
Condensed Consolidated Income Statements
(in thousands, except share and per share data)
(unaudited)
                         Three Months Ended          Year Ended
                         December 31,  December 31,  December 31,  December
                         2012          2011          2012          31, 2011
Operating Revenues:
 Rental                  $ 272,906    $ 214,264    $ 990,715    $ 820,711
 Tenant reimbursements   75,147        52,010        272,309       211,811
 Construction management 1,525         4,338         8,428         29,286
 Other                   158           -             7,615         902
    Total operating      349,736       270,612       1,279,067     1,062,710
    revenues
Operating Expenses:
 Rental property
 operating and           106,095       81,698        380,176       307,922
 maintenance
 Property taxes          19,682        9,458         69,475        49,946
 Insurance               2,647         2,014         9,600         8,024
 Construction management 184           2,388         1,596         22,715
 Depreciation and        107,718       80,612        382,553       310,425
 amortization
 General and             13,441        12,542        57,209        53,624
 administrative
 Transactions            5,331         601           11,120        5,654
 Other                   -             -             1,260         90
    Total operating      255,098       189,313       912,989       758,400
    expenses
    Operating income     94,638        81,299        366,078       304,310
Other Income (Expenses):
 Equity in earnings of
 unconsolidated joint    1,733         1,296         8,135         4,952
 ventures
 Interest and other      (116)         398           1,892         3,260
 income
 Interest expense        (40,350)      (36,856)      (157,108)     (149,350)
 Tax (expense) benefit   (10)          1,164         (2,647)       42
 Loss from early         -             (104)         (303)         (1,088)
 extinguishment of debt
Net Income               55,895        47,197        216,047       162,126
 Net income attributable
 to noncontrolling       (1,329)       (1,481)       (5,713)       (5,861)
 interests
Net Income Attributable
to Digital Realty Trust, 54,566        45,716        210,334       156,265
Inc.
 Preferred stock         (9,751)       (9,726)       (38,672)      (25,397)
 dividends
Net Income Available to  $  44,815    $  35,990    $ 171,662    $ 130,868
Common Stockholders
 Net income per share
 available to common
 stockholders:
 Basic                   $   0.36   $   0.34   $   1.48   $   1.33
 Diluted                 $   0.36   $   0.34   $   1.48   $   1.32
 Weighted average shares
 outstanding:
 Basic                   123,824,957   105,134,719   115,717,667   98,405,375
 Diluted                 124,145,590   105,584,344   116,006,577   99,169,749

Digital Realty Trust, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
                                          December 31, 2012  December 31, 2011
ASSETS                                    (unaudited)
Investments in real estate
Properties:
Land                                      $ 661,058         $ 555,113
Acquired ground leases                    13,658             6,214
Buildings and improvements                7,662,973          5,253,754
Tenant improvements                       404,830            303,502
Total investments in properties           8,742,519          6,118,583
Accumulated depreciation and amortization (1,206,017)        (900,044)
Net investments in properties             7,536,502          5,218,539
Investment in unconsolidated joint        66,634             23,976
ventures
Net investments in real estate            7,603,136          5,242,515
Cash and cash equivalents                 56,281             40,631
Accounts and other receivables, net      168,286            90,580
Deferred rent                             321,715            246,815
Acquired above market leases, net        65,055             29,701
Acquired in place lease value and         495,205            335,381
deferred leasing costs, net
Deferred financing costs, net            30,621             29,849
Restricted cash                           44,050             55,165
Other assets                              34,865             27,929
Total Assets                              $ 8,819,214        $ 6,098,566
LIABILITIES AND EQUITY
Global revolving credit facility          $ 723,729         $ 275,106
Unsecured term loan                       757,839            -
Unsecured senior notes, net of discount   1,738,221          1,441,072
Exchangeable senior debentures            266,400            266,400
Mortgage loans, net of premiums           792,376            947,132
Other secured loan                        -                  10,500
Accounts payable and other accrued        646,427            315,133
liabilities
Accrued dividends and distributions       93,434             75,455
Acquired below market leases, net         148,233            85,819
Security deposits and prepaid rents       154,171            101,538
Total Liabilities                         5,320,830          3,518,155
Equity:
Stockholders' equity                      3,468,305          2,522,917
Noncontrolling interests                  30,079             57,494
Total Equity                              3,498,384          2,580,411
Total Liabilities and Equity              $ 8,819,214        $ 6,098,566

Digital Realty Trust, Inc. and Subsidiaries
Reconciliation of Net Income Available to Common Stockholders to Funds From
Operations (FFO)
(in thousands, except per share and unit data)
(unaudited)
                    Three Months Ended                   Year Ended
                    December    September   December     December    December
                    31, 2012    30, 2012    31, 2011     31, 2012    31, 2011
Net income
available to common $ 44,815   $ 45,615   $ 35,990    $ 171,662   $ 130,868
stockholders
Adjustments:
Noncontrolling
interests in        1,336       1,574       1,530        6,157       6,185
operating
partnership
Real estate related
depreciation and    106,797     100,994     80,086       378,970     308,547
amortization (1)
Real estate related
depreciation and
amortization
related to          727         710         985          3,208       3,688
investment in

 unconsolidated
joint ventures
Gain on sale of
assets held in      -           -           -            (2,325)     -
unconsolidated
joint venture
FFO available to
common stockholders $ 153,675   $ 148,893   $ 118,591    $ 557,672   $ 449,288
and unitholders (2)
Basic FFO per share $        $        $         $        $   
and unit            1.21        1.18        1.08         4.65        4.36
Diluted FFO per     $        $        $         $        $   
share and unit (2)  1.16        1.13        1.02         4.44        4.06
Weighted average
common stock and
units outstanding
Basic               127,515     126,243     109,603      119,861     103,053
Diluted (2)         137,510     137,304     123,875      131,467     119,404
(1) Real estate
related
depreciation and
amortization was
computed as
follows:
Depreciation and
amortization per    107,718     101,840     80,612       382,553     310,425
income statement
Non-real estate     (921)       (846)       (526)        (3,583)     (1,878)
depreciation
                    $ 106,797   $ 100,994   $ 80,086    $ 378,970   $ 308,547
(2) At December 31, 2012, we had 4,937 series D convertible preferred shares
outstanding that were convertible into 3,143 common shares on a weighted
average basis for the three months ended December 31, 2012. For the three
months ended December 31, 2012, we have excluded the effect of dilutive series
E and series F preferred stock, that may be converted upon the occurrence of
specified change in control transactions as described in the articles
supplementary governing the series E and series F preferred stock, which we
consider highly improbable; if included, the dilutive effect for the three
months ended December 31, 2012 would be 7,116 shares. In addition, we had a
balance of $266,400 of 5.50% exchangeable senior debentures due 2029 that were
exchangeable for 6,531 common shares on a weighted average basis for the three
months ended December 31, 2012. See below for calculations of diluted FFO
available to common stockholders and unitholders and weighted average common
stock and units outstanding.

                           Three Months Ended             Year Ended
                           December  September December   December   December
                           31, 2012  30, 2012  31, 2011   31, 2012   31, 2011
FFO available to common
stockholders and           $ 153,675 $ 148,893 $ 118,591  $ 557,672  $ 449,288
unitholders
Add: Series C convertible -         -         1,402      1,402      6,077
preferred dividends
Add: Series D convertible 1,697     1,723     2,398      8,212      13,394
preferred dividends
Add: 5.50% exchangeable
senior debentures interest 4,050     4,050     4,050      16,200     16,200
expense
FFO available to common
stockholders and           $ 159,422 $ 154,666 $ 126,441  $ 583,486  $ 484,959
unitholders -- diluted
Weighted average common
stock and units            127,515   126,243   109,603    119,861    103,053
outstanding
Add: Effect of dilutive
securities (excluding
series C and D convertible 321       327       450        289        764
preferred stock and 5.50%
exchangeable senior
debentures)
Add: Effect of dilutive
series C convertible       -         -         2,778      814        3,017
preferred stock
Add: Effect of dilutive
series D convertible       3,143     4,219     4,660      4,017      6,242
preferred stock
Add: Effect of dilutive
5.50% exchangeable senior  6,531     6,515     6,384      6,486      6,328
debentures
Weighted average common
stock and units            137,510   137,304   123,875    131,467    119,404
outstanding -- diluted

Digital Realty Trust, Inc. and Subsidiaries
Reconciliation of Funds From Operations (FFO) to Core Funds From Operations
(CFFO)
(in thousands, except per share and unit data)
(unaudited)
                       Three Months Ended                 Year Ended
                       December    September   December   December   December
                       31, 2012    30, 2012    31, 2011   31, 2012   31, 2011
FFO available to
common stockholders    $ 159,422   $ 154,666   $ 126,441  $ 583,486  $ 484,959
and unitholders --
diluted
Termination fees and
other non-core         (158)       (1,052)     (111)      (9,034)    (2,953)
revenues ^(3)
Significant            5,331       504         601        11,120     5,654
transaction expenses
Loss from early        -           -           104        303        1,088
extinguishment of debt
Change in fair value
of contingent          (1,051)     -           -          (1,051)    -
consideration ^(4)
Other non-core expense -           923         -          1,260      174
adjustments ^(5)
CFFO available to
common stockholders    $ 163,544   $ 155,041   $ 127,035  $ 586,084  $ 488,922
and unitholders --
diluted
Diluted CFFO per share $   1.19 $   1.13 $        $        $  
and unit                                       1.03      4.46      4.09
(3) Includes one-time fees, proceeds and certain other adjustments that are
not core to our business.
(4) Relates to earn-out contingency in connection with Sentrum Portfolio
acquisition.
(5) Includes reversal of accruals and certain other adjustments that are not
core to our business.

Note Regarding Funds From Operations

Digital Realty calculates Funds from Operations, or FFO, in accordance with
the standards established by the National Association of Real Estate
Investment Trusts, or NAREIT. FFO represents net income (loss) available to
common stockholders and unitholders (computed in accordance with U.S. GAAP),
excluding gains (or losses) from sales of property, impairment charges, real
estate related depreciation and amortization (excluding amortization of
deferred financing costs) and after adjustments for unconsolidated
partnerships and joint ventures. Management uses FFO as a supplemental
performance measure because, in excluding real estate related depreciation and
amortization and gains and losses from property dispositions, it provides a
performance measure that, when compared year over year, captures trends in
occupancy rates, rental rates and operating costs. Digital Realty also
believes that, as a widely recognized measure of the performance of REITs, FFO
will be used by investors as a basis to compare our operating performance with
that of other REITs. However, because FFO excludes depreciation and
amortization and captures neither the changes in the value of our properties
that result from use or market conditions, nor the level of capital
expenditures and leasing commissions necessary to maintain the operating
performance of our properties, all of which have real economic effect and
could materially impact our financial condition and results from operations,
the utility of FFO as a measure of our performance is limited. Other REITs may
not calculate FFO in accordance with the NAREIT definition and, accordingly,
our FFO may not be comparable to such other REITs' FFO. Accordingly, FFO
should be considered only as a supplement to net income as a measure of our
performance.

Core Funds from Operations

We present core funds from operations, or CFFO, as a supplemental operating
measure because, in excluding certain items that do not reflect ongoing
revenue or expense streams, it provides a performance measure that, when
compared year over year, captures trends in our core business operating
performance. We calculate CFFO by adding to or subtracting from FFO (i)
termination fees and other non-core revenues, (ii) significant transaction
expenses, (iii) loss from early extinguishment of debt, (iv) costs on
redemption of preferred stock, (v) significant property tax adjustments, net,
(vi) change in fair value of contingent consideration and (vii) other non-core
expense adjustments. Because certain of these adjustments have a real economic
impact on our financial condition and results from operations, the utility of
CFFO as a measure of our performance is limited. Other REITs may not calculate
CFFO in a consistent manner. Accordingly, our CFFO may not be comparable to
other REITs' CFFO. CFFO should be considered only as a supplement to net
income computed in accordance with GAAP as a measure of our performance.



SOURCE Digital Realty Trust, Inc.

Website: http://www.digitalrealtytrust.com
 
Press spacebar to pause and continue. Press esc to stop.