Digital Realty Trust, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Digital Realty Trust, Inc. (DLR) filed its Q1 2024 10-Q, detailing financial performance and balance sheet items.</b>

AI Summary

DIGITAL REALTY TRUST, INC. (DLR-PL) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Digital Realty Trust, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing pertains to the company's financial performance and operations. Key financial data points such as Interest Expense and Other Assets are included. The report details various equity and noncontrolling interest components as of March 31, 2024. Comparative data from December 31, 2023, is also presented.

Why It Matters

For investors and stakeholders tracking DIGITAL REALTY TRUST, INC., this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial snapshot of Digital Realty Trust, Inc., crucial for assessing its current operational health and financial standing. The detailed financial information allows stakeholders to track trends in revenue, expenses, and asset/liability management, informing investment decisions.

Risk Assessment

Risk Level: low — DIGITAL REALTY TRUST, INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine disclosure for public companies and does not contain unexpected negative information.

Analyst Insight

Monitor future filings for trends in interest expense and asset growth to assess the company's financial strategy.

Key Numbers

• 311,608,000 — Interest Expense (For the three months ended March 31, 2024)
• 312,421,000 — Interest Expense (For the three months ended March 31, 2023)
• 6,449,000 — Other Assets (As of March 31, 2024)
• 6,588,000 — Other Assets (As of December 31, 2023)

Key Players & Entities

• DIGITAL REALTY TRUST, INC. (company) — Filer name
• DLR (company) — Ticker symbol
• 2024-03-31 (date) — Reporting period end date
• 2024-05-03 (date) — Filing date
• 5707 SOUTHWEST PARKWAY, BUILDING 1, SUITE 275, AUSTIN, TX 78735 (address) — Business address
• DIGITAL REALTY TRUST, L.P. (company) — Related entity

FAQ

Industry Context

Digital Realty Trust operates as a Real Estate Investment Trust (REIT) specializing in data centers, a critical component of the digital infrastructure supporting cloud computing and data storage.

Regulatory Implications

As a publicly traded REIT, Digital Realty Trust is subject to SEC regulations, including the requirement to file quarterly (10-Q) and annual (10-K) reports detailing its financial condition and operations.

What Investors Should Do

1. Analyze the trend of 'Interest Expense' over the last few quarters to understand its impact on profitability.
2. Review the 'Other Assets' line item for any significant changes or trends.
3. Compare the balance sheet figures for Q1 2024 with Q4 2023 to identify shifts in the company's financial structure.

Key Dates

• 2024-03-31: Quarterly Period End — Financial results for Q1 2024 are reported.
• 2024-05-03: Filing Date — The 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the first quarterly report for 2024, providing updated financial data compared to the previous year's Q1 and the end of 2023.

Key Financial Figures

• $3.75 billion — " refers to our Operating Partnership's $3.75 billion senior unsecured revolving credit facil
• $220 million — nership's 33,285,000,000 (approximately $220 million based on exchange rates at March 31, 20

Filing Documents

• dlr-20240331x10q.htm (10-Q) — 3647KB
• dlr-20240331xex10d1.htm (EX-10.1) — 20KB
• dlr-20240331xex31d1.htm (EX-31.1) — 16KB
• dlr-20240331xex31d2.htm (EX-31.2) — 16KB
• dlr-20240331xex31d3.htm (EX-31.3) — 16KB
• dlr-20240331xex31d4.htm (EX-31.4) — 16KB
• dlr-20240331xex32d1.htm (EX-32.1) — 11KB
• dlr-20240331xex32d2.htm (EX-32.2) — 10KB
• dlr-20240331xex32d3.htm (EX-32.3) — 10KB
• dlr-20240331xex32d4.htm (EX-32.4) — 10KB
• 0001558370-24-006671.txt (&nbsp;) — 14108KB
• dlr-20240331.xsd (EX-101.SCH) — 94KB
• dlr-20240331_cal.xml (EX-101.CAL) — 93KB
• dlr-20240331_def.xml (EX-101.DEF) — 449KB
• dlr-20240331_lab.xml (EX-101.LAB) — 731KB
• dlr-20240331_pre.xml (EX-101.PRE) — 580KB
• dlr-20240331x10q_htm.xml (XML) — 2762KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 60 ITEM 4.

Controls and Procedures (Digital Realty Trust, Inc.)

Controls and Procedures (Digital Realty Trust, Inc.) 61

Controls and Procedures (Digital Realty Trust, L.P.)

Controls and Procedures (Digital Realty Trust, L.P.) 62 PART II. OTHER INFORMATION 63 ITEM 1.

Legal Proceedings

Legal Proceedings 63 ITEM 1A.

Risk Factors

Risk Factors 63 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 63 ITEM 3. Defaults Upon Senior Securities 63 ITEM 4. Mine Safety Disclosures 63 ITEM 5. Other Information 63 ITEM 6. Exhibits 64

Signatures

Signatures 65 4 Table of Contents DIGITAL REALTY TRUST, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands, except per share data) March 31, December 31, 2024 2023 ASSETS Investments in real estate: Investments in properties, net $ 23,757,783 $ 24,236,088 Investments in unconsolidated entities 2,365,821 2,295,889 Net investments in real estate 26,123,604 26,531,977 Operating lease right-of-use assets, net 1,233,410 1,414,256 Cash and cash equivalents 1,193,784 1,625,495 Accounts and other receivables, net 1,217,276 1,278,110 Deferred rent, net 611,670 624,427 Goodwill 9,105,026 9,239,871 Customer relationship value, deferred leasing costs and other intangibles, net 2,359,380 2,500,237 Assets held for sale 287,064 478,503 Other assets 501,875 420,382 Total assets $ 42,633,089 $ 44,113,258 LIABILITIES AND EQUITY Global revolving credit facilities, net $ 1,901,126 $ 1,812,287 Unsecured term loans, net 1,303,263 1,560,305 Unsecured senior notes, net of discount 13,190,202 13,422,342 Secured and other debt, net of discount 625,750 630,973 Operating lease liabilities 1,357,751 1,542,094 Accounts payable and other accrued liabilities 1,870,344 2,168,984 Deferred tax liabilities, net 1,121,224 1,151,096 Accrued dividends and distributions — 387,988 Security deposits and prepaid rents 413,225 401,867 Obligations associated with assets held for sale 9,981 39,001 Total liabilities 21,792,866 23,116,937 Redeemable noncontrolling interests 1,350,736 1,394,814 Commitments and contingencies Equity: Stockholders' Equity: Preferred Stock: $ 0.01 par value per share, 110,000 shares authorized; $ 755,000 liquidation preference ( $ 25.00 per share), 30,200 shares issued and outstanding as of March 31, 2024 and December 31, 2023 731,690 731,690 Common Stock: $ 0.01

View Full Filing

View this 10-Q filing on SEC EDGAR