The Atlanta property is located in Georgia at 101 Aquilla Way. The 313,600-sf property is leased through 2011 to a major Internet enterprise as a key data center, according to Digital Realty. The Texas property, which serves as a data center and Internet gateway facility, is located in Houston at 12001 North Freeway and is 92.9% leased. The Toronto acquisition is located in the suburbs at 6800 Millcreek Dr. The 84,000-sf property is 100% leased to an IT services provider. A company spokesman could not immediately provide additional detail with regard to the properties.
Digital Realty reported funds from operations for the first quarter of $21.7 million, or $0.36 per share, compared to $15.8 million, or $0.30 per share, in the comparable year-earlier period. Total operating revenues for the quarter ballooned to $60.98 million from $39.51 million in the prior year period. Analysts' average expectation was for earnings of $0.39 per share on revenue of $60.48 million.
The company posted net income for the first quarter of $5.08 million. Net income available to common stockholders was $1.6 million or $0.06 per diluted share.
The company's forecast for 2006 calls for FFO per share in the range of $1.55 to $1.65, which represents 13% to 20% growth over the 2005 actual FFO. Heretofore, analysts expected $1.69 per share for the current year. Shares of Digital Realty are down $0.59 to $27.16 in early afternoon trading.
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