Digital Realty Trust's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Digital Realty Trust, Inc. (DLR)

Q2 2012 Earnings Conference Call

July 25, 2012 13:00 ET


Pamela Garibaldi – Vice President, Investor Relations and Corporate Marketing

Michael Foust – Chief Executive Officer

Bill Stein – Chief Financial Officer and Chief Investment Officer


George Auerbach

Jamie Feldman

Jonathan Schildkraut

Jordan Sadler

Rob Stevenson

Michael Bilerman

Jonathan Atkin

Paul Morgan



Good afternoon. My name is (Kimberly) and I will be your conference operator today. At this time, I would like to welcome everyone to the Digital Realty Trust 2012 Second Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

I would now like to turn the conference over to Pamela Garibaldi, Vice President of Investor Relations and Corporate Marketing. Please go ahead.

Pamela Garibaldi – Vice President, Investor Relations and Corporate Marketing

Thank you, (Kimberly). Good morning and good afternoon everyone. By now, you should have received a copy of the Digital Realty earnings press release. If you have not, you can access one in the Investor Relations section of our website at or you may call 415-738-6500 to request a copy.

Before we begin, I’d like to remind everyone that the management of Digital Realty may make forward-looking statements on this call. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from expectations. You can identify such forward-looking statements by the use of forward-looking terminology such as belief, expects, may, will, should, pro forma, or other similar words or phrases, and by discussions of strategy, plans, intentions, future events or trends, or discussions that do not relate solely to historical matters, including statements related to rents to be received in future periods, lease terms, development and redevelopment plans, supply and demand for data centers, data center sector growth, targeted returns, cap rates, acquisitions, leasing and investment activities, capital markets and finance activities, debt maturities and covenant compliance, expectations about the company’s growth, financial resources and success, and the company’s future and other results including the company’s 2012 guidance and underlying assumptions.

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