Digital Realty to Build 84MW Milan Data Center, Expands Mediterranean Footprint
DLR sits 36% above its 52-week low of $129.95.
Summary
Digital Realty Trust announced strategic land acquisitions in Milan, Italy, to further expand its Mediterranean presence. The company plans to deliver an initial 8-megawatt facility in Milan, with the first phase targeted for readiness in 2028, and has plans to expand the Milan capacity up to 84 megawatts. Additionally, a first facility in Rome is expected to be operational in early 2027. This significant capacity expansion in a key European market is a positive development, signaling continued growth and strategic investment for the data center REIT, which should contribute to future revenue and FFO growth. Traders will monitor the progress and demand for these new facilities.
At the time of this announcement, DLR was trading at $176.47 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $60.6B. The 52-week trading range was $129.95 to $184.79. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.