Group 1 - The official annual report for DLR Kredit A/S for 2025 is provided in xHTML format [1] - Attachments include the annual report and the annual financial statement announcement for DLR Kredit for 2025 [2]

Core Insights - Digital Realty Trust (DLR) is expected to report fourth-quarter 2025 results on February 5, with anticipated year-over-year growth in revenues and funds from operations (FFO) per share [1][10] Financial Performance - In the prior quarter, DLR reported a core FFO per share of $1.89, exceeding the Zacks Consensus Estimate of $1.78, reflecting strong leasing momentum and improved rental rates [2] - Over the last four quarters, DLR's core FFO per share has consistently surpassed the Zacks Consensus Estimate, with an average beat of 4.43% [2] Growth Drivers - DLR is positioned to benefit from its extensive global data center footprint, driven by digital transformation, cloud computing, and the rise of artificial intelligence [3] - The increasing demand for data centers is leading to heightened leasing activity, contributing to revenue growth for the upcoming quarter [3] - Strategic investments in land, infrastructure, and acquisitions are expected to support DLR's growth trajectory [4] Revenue Projections - The Zacks Consensus Estimate for rental revenues in Q4 is $1.06 billion, representing a 10.8% increase from $958.9 million in the same quarter last year [6] - Interconnection and other revenues are projected at $121.1 million, indicating a 7.8% increase year-over-year [6] - Total revenues for the quarter are estimated at $1.58 billion, suggesting a year-over-year increase of 9.97% [6] Analyst Sentiment - Analysts have shown confidence in DLR's performance, with the Zacks Consensus Estimate for quarterly FFO per share revised upward to $1.83, reflecting a year-over-year growth of 5.78% [7]

Summary of Data Center Infrastructure and AI Demand Industry Overview - The report focuses on the **Data Center Real Estate Investment Trusts (REITs)** and the broader **AI infrastructure landscape**. - Demand for data center capacity has surged, with **5.8GW** of capacity leased in North America in **4Q25**, leading to a total absorption of **15.6GW** for the year, more than double the **~7GW** in **2024** [2][45]. Key Demand Insights - The demand pipeline in the U.S. is projected at **~26GW**, driven by **11GW** of hyperscale self-build capacity currently in development [2]. - Major players like **Oracle**, **Meta**, and **AWS** are increasing their leasing activities, particularly in tertiary markets [2]. - Forward demand signals are positive, with significant AI infrastructure projects reaching operational capacity targets of **1GW** [3][21]. Supply Constraints - Supply constraints are becoming more acute, with grid interconnection queues extending to **6+ years** in most markets and data center vacancy rates at historic lows of **<2%** [4][60]. - The adoption of **Bring Your Own Generation (BYOG)** approaches is expected to increase, particularly for larger campus locations [4]. - Labor scarcity is a growing concern, with each **GW** build requiring **3-7K** workers, while the labor pool is only growing by **~24K** per year [4][9]. Data Center REITs Outlook - The report maintains a constructive outlook on data center REITs, particularly **Digital Realty (DLR)** and **Equinix (EQIX)**, due to tight industry conditions that are expected to drive pricing higher [5][9]. - **DLR** is projected to see **7.4%** growth in FFO/share for **2026E**, supported by hyperscale leasing and mark-to-market opportunities [8]. - **EQIX** is expected to achieve **8.6%** normalized recurring revenue growth in **2026E**, with shares trading at a discounted valuation [8]. AI Infrastructure Developments - The race to **Artificial General Intelligence (AGI)** is intensifying, with major AI infrastructure projects ramping up to meet the demands of new models [9][14]. - Upcoming releases of models trained on **Blackwell systems** and the rollout of **Rubin** in **2H26** are expected to significantly impact power density and data center designs [3][41]. - The current environment is characterized by the development of greenfield data center facilities to support higher power and compute-intensive workloads [9]. Financial Projections - Hyperscale capital expenditures are projected to reach **~$585B** in **2026**, a nearly **40%** increase from previous estimates [46]. - Incremental cloud revenues are expected to rise to **$106B** in **2026**, up from **$69B** in **2025** [50]. Conclusion - The data center market is experiencing unprecedented growth driven by AI demand, with significant investments and developments expected in the coming years. However, supply constraints and labor shortages pose challenges that could impact the pace of growth. The outlook for established data center REITs remains positive, supported by strong demand and pricing dynamics.

In this piece, we discuss the 10 Best AI Data Center Stocks to Buy Now.The surge in AI data center buildout continued in late January, with demand signals extending beyond Nvidia’s flagship processors. On January 28, 2026, Reuters reported that chipmakers’ shares rose amid renewed demand for AI data center hardware, with Texas Instruments citing strength in power management and signal conversion chips, both of which are essential in data centers.Meanwhile, new capital spending tied to the physical expansion ...

Digital Realty Trust (DLR) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DLR crossed above the 200-day moving average, suggesting a long-term bullish trend.The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indexes, and other financial instruments. The indicator moves higher or lower along with longer-term price moves, serving as a support or resistance le ...

Industry Overview - The artificial intelligence (AI) industry is poised for significant growth, with spending on AI infrastructure expected to rise from $500 billion in 2022 to $1.4 trillion by 2030, reflecting an annualized growth rate of over 20% [2] - The AI infrastructure market is still in its early stages, with the potential for substantial expansion as platforms become more accessible to users [1] Company Analysis Vertiv - Vertiv is positioned to benefit from the growth of AI data centers, focusing on cooling solutions to manage heat generated by advanced computing equipment [4][5] - The global data center cooling market is projected to grow at an average rate of over 10% per year through 2034, with Vertiv's liquid cooling solutions at the forefront [5] - Vertiv's revenue has increased nearly 30% in the first three quarters of 2025, with profits more than doubling during this period [9] Digital Realty Trust - Digital Realty Trust operates as a real estate investment trust (REIT), owning over 300 data center facilities and generating nearly $1.6 billion in revenue in the last quarter, marking a 10% year-over-year increase [13][14] - The company has a strong track record of 20 consecutive years of revenue growth and offers a dividend yield of 3.1%, providing a stable income component for investors [14] Nebius Group - Nebius Group specializes in data centers designed for AI developers, reporting a remarkable year-over-year revenue growth of 355% to $146 million in Q3 2024, although it also experienced a significant increase in losses [16][19] - The company secured a multibillion-dollar, multiyear deal with Microsoft for AI infrastructure services, indicating strong potential despite current financial volatility [19][20] - Analysts maintain a positive outlook on Nebius, with a consensus target price of $158.50, suggesting a potential upside of nearly 70% from its current price [21]

Core Insights - The AI market is experiencing rapid growth, driven by the popularity of generative AI platforms like ChatGPT, leading to increased investments in AI infrastructure by companies [1][2] - Nvidia, Equinix, and Digital Realty are positioned to benefit significantly from this AI boom, with Nvidia being the leading AI chipmaker and the data center REITs providing essential infrastructure [4][11] Nvidia - Nvidia's discrete GPUs are optimized for parallel processing, making them more suitable for AI applications compared to traditional CPUs [5] - The company has shifted its revenue focus from gaming GPUs to high-end data center GPUs, which now constitute the majority of its revenue [5] - Nvidia holds over 90% of the discrete GPU market, benefiting from a first-mover advantage and a proprietary programming platform (CUDA) that locks in customers [8] - Analysts project Nvidia's revenue and earnings per share (EPS) to grow at a CAGR of 47% and 45% respectively from fiscal 2025 to fiscal 2028 [9] Data Center REITs - Equinix and Digital Realty are two of the largest data center REITs, with Equinix operating over 270 data centers and Digital Realty managing more than 300 [11] - Both companies are required to distribute at least 90% of their taxable income as dividends, making them attractive for income-oriented investors [10] - Equinix focuses on smaller units to serve a wider range of industries, while Digital Realty typically leases larger spaces to major enterprises [13] - Both companies provide interconnection services, with Equinix offering denser connections compared to Digital Realty [14] - Despite challenges in 2022 and 2023 due to rising interest rates, both stocks are expected to become compelling investments as interest rates decline and the AI market expands [16] - Equinix is valued at 21 times its projected adjusted funds from operations (AFFO) per share for 2025, with a forward yield of 2.4%, while Digital Realty trades at the same multiple with a forward yield of 3.1% [17]

Core Viewpoint - Digital Realty has announced the tax treatment of its 2025 dividends for both common and preferred stock, detailing the breakdown of taxable dividends and their classifications for tax reporting purposes [1][2]. Common Stock Dividends - The 2025 taxable dividend for Digital Realty's common stock is $4.88 per share, which includes one quarterly distribution declared in 2024 and paid in January 2025, along with three quarterly distributions declared and paid in 2025 [2]. - The breakdown of the taxable dividend is as follows: $3.833656 per share (79%) classified as ordinary income and $1.046344 per share (21%) as capital gain distribution [2]. Preferred Stock Dividends - For Series J Cumulative Redeemable Preferred Stock, the 2025 taxable dividend is $1.312500 per share, with $1.031080 per share (79%) reported as ordinary income and $0.281420 per share (21%) as capital gain distribution [4]. - For Series K Cumulative Redeemable Preferred Stock, the 2025 taxable dividend is $1.462500 per share, with $1.148916 per share (79%) as ordinary income and $0.313584 per share (21%) as capital gain distribution [7]. - For Series L Cumulative Redeemable Preferred Stock, the 2025 taxable dividend is $1.300000 per share, with $1.021260 per share (79%) as ordinary income and $0.278740 per share (21%) as capital gain distribution [8]. Quarterly Distribution Details - The quarterly distributions for common stock are as follows: - $1.22 per share for the distribution declared in December 2024 and paid in January 2025 [5]. - Each of the three distributions in 2025 is $1.22 per share [3]. - The quarterly distributions for Series J, K, and L preferred stocks are detailed in their respective tables, showing the breakdown of ordinary and capital gain distributions for each quarter [4][7][8]. Company Overview - Digital Realty is a global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions, with a footprint of over 300 facilities across more than 50 metropolitan areas in 25 countries [10].

Group 1 - Digital Realty has signed an agreement to acquire CSF Advisers, entering the Malaysian market and expanding its PlatformDIGITAL® in one of Southeast Asia's fastest-growing digital markets [2][4] - The acquisition includes the TelcoHub 1 data center in Cyberjaya, which is one of the most mature data center hubs in the Greater Kuala Lumpur area, featuring a capacity of 1.5 megawatts and over 6,000 fiber strands [3][4] - The acquisition is expected to be completed in the first half of 2026, subject to customary closing conditions, and will integrate the Malaysian facility into Digital Realty's global data center platform [3][5] Group 2 - Digital Realty plans to enhance its local team to support future business growth and operational scalability, with the current management team from CSF Advisers joining the company [5] - Malaysia's total data center capacity is projected to grow from 1.26 gigawatts in 2025 to 2.53 gigawatts by 2030, driven by increasing demand for cloud services and AI applications [5] - The company aims to collaborate closely with the Malaysian government and industry stakeholders to support the national digital strategy and promote energy-efficient data center practices [5][6] Group 3 - Digital Realty's expansion into Malaysia builds on its existing operations in Singapore and Jakarta, as the company continues to evaluate opportunities for capacity and partnerships in the region [6] - The acquisition will enhance Digital Realty's ability to support local customers and businesses operating in the Southeast Asian market, providing complementary capacity and interconnection services [4][5] - The company emphasizes its commitment to sustainable development and long-term investment in Malaysia's digital infrastructure ecosystem [5][6]

Core Viewpoint - Digital Realty Trust (NYSE:DLR) is gaining favor among hedge funds, with analysts projecting strong growth and attractive entry points following a recent bearish trend in its share price [1][2]. Group 1: Analyst Ratings and Price Targets - HSBC analyst Phani Kanumuri upgraded Digital Realty Trust from Hold to Buy, raising the price target from $187 to $193, indicating an 18% upside potential [1]. - Mizuho Securities analyst Vikram Malhotra reiterated a Buy rating but lowered the target price from $191 to $180, reflecting a revised upside potential of 10% [3]. Group 2: Growth Projections - Kanumuri forecasts "strong and sustainable" growth in Digital Realty Trust's adjusted funds from operations (AFFO), estimating a growth range of 9% to 10% over the next three years, supported by robust pricing and bookings in key metro areas [2]. Group 3: Company Overview - Digital Realty Trust is a specialty real estate investment trust that operates data centers, providing essential infrastructure for network carriers, cloud hosting companies, and enterprises to meet their AI, cloud, and digital transformation needs [4].