Digital Realty Trust, Inc. has announced guidance information for the year ending December 31, 2012.

FFO per diluted share and unit for the year ending December 31, 2012 is projected to be between $4.34 and $4.48. This guidance represents expected FFO growth of 7.2 percent to 11.4 percent over the 2011 revised FFO range of $4.02 to $4.05 per diluted share and unit. A reconciliation of the range of 2012 projected net income to projected FFO follows:

 

 

 Low - High

Net income available to common stockholders per diluted share 

$1.51 - 1.65

            Add:

 

Real estate depreciation and amortization as adjusted for noncontrolling interests

$3.10

            Less:

 

Dilutive impact of convertible stock and exchangeable debentures

$(0.27)

    Projected FFO per diluted share 

$4.34 - 4.48

 

The 2012 guidance provided by Digital Realty in this press release is based on the following additional assumptions as of January 30, 2012:

  • Acquisitions of income producing properties totaling $300 - $400 million at an average cap rate of 8.0 percent to 8.5 percent;
  • Commencement of leases contributing $145 to $180 million of GAAP rental revenue on an annualized basis;
  • Digital Design Services revenue recognized between $7 to $10 million;
  • Development and redevelopment capital expenditures of $700 to $900 million;
  • Recurring capital expenditures of $40 to $50 million;
  • Total G&A expenses of $62 million;
  • Transaction expenses of $5 - $8 million; and
  • FX rates (USD per currency): Euro = 1.28; Pound = 1.53; SGD = 0.77; AUS = 1.00.