Four major data center REITs have announced first-quarter earnings, and their strong results suggest the sector could be setting a "new normal.”
Digital Realty Trust reported sales 20% higher in Q1 than its historical average, and CoreSite Realty posted earnings 34% higher than those in Q1 2016, Data Center Knowledge reports. DuPont Faros Technology beat its own record in the period for large-scale deployments and hyper-scale pre-leasing. While Equinix’s recent $3.6B deal to acquire 29 Verizon data centers overshadows its Q1 report, the REIT followed the trend and enjoyed strong results over the quarter.
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