Digital Realty Commits $1.6B to Global Expansion, Acquires Kansas City Site, Boosts Teraco Stake
DLR sits 29% above its 52-week low of $146.23 on elevated volume (2.3× avg).
Summary
Digital Realty announced three strategic transactions totaling approximately $1.61 billion. The company acquired 1,440 acres in Kansas City for $475 million to develop a two-gigawatt hyperscale data center campus. It also increased its ownership in Teraco, Africa's leading data center platform, to 77% for $650 million, and acquired digital infrastructure investment firm Columbia Capital for $485 million. These investments will be primarily funded by issuing 6.3 million shares of common stock at an average price of $197.54 per share. This continues Digital Realty's aggressive global expansion, following recent land acquisitions in Milan and a new data center in Barcelona. The significant capital deployment and equity issuance underscore the company's commitment to growth in key markets and its private capital platform.
At the time of this announcement, DLR was trading at $188.40 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $66.1B. The 52-week trading range was $146.23 to $208.14. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.