Digital Realty Trust Inc (NYSE:DLR) stock fell 3.86% (As on February 19, 11:57:04 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY 22. The company delivered fourth quarter of 2022 net income of $1 million, and net (loss) / income available to common stockholders of ($6) million. Digital Realty generated fourth quarter of 2022 Adjusted EBITDA of $639 million, a 3% increase from the previous quarter and a 9% increase over the same quarter last year. The company reported fourth quarter of 2022 funds from operations (FFO) of $440 million. In the fourth quarter, Digital Realty signed total bookings that are expected to generate $117 million of annualized GAAP rental revenue, including a $14 million contribution from interconnection. The weighted-average lag between new leases signed during the fourth quarter of 2022 and the contractual commencement date was fifteen months. In addition to new leases signed, Digital Realty also signed renewal leases representing $195 million of annualized GAAP rental revenue during the quarter.  Rental rates on renewal leases signed during the fourth quarter of 2022 rolled up 0.8% on a cash basis and up 1.1% on a GAAP basis.

Moreover, During the fourth quarter, Digital Realty closed on the sale of a 25% interest in a data center facility in Frankfurt, Germany to Digital Core REIT (SGX: DCRU) in a transaction that valued the facility at €558 million, or approximately $596 million (at 100% share). The transaction generated net proceeds to Digital Realty of €139.6 million, or approximately $150 million. Also during the fourth quarter, Digital Realty acquired four sites  totaling 65 acres that will support the future development of up to 84 megawatts of IT load for $55 million, or approximately $0.8 million per acre. Separately, Digital Realty entered into a ground lease with an option to purchase a 4.6-acre land parcel adjacent to its Dugny campus in Paris, France for a total expected investment of €34.3 million, or approximately $36.6 million.

DLR in the fourth quarter of FY 22 has reported the adjusted funds from operations per share of $1.65, missing the analysts’ estimates for the adjusted funds from operations per share of $1.68, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 11 percent to $1.23 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $1.21 billion.

Digital Realty Trust expects full-year funds from operations to be in the range of $6.65 to $6.75 per share, with revenue in the range of $5.7 billion to $5.8 billion.