Digital Realty Trust, Inc. (DLR) Presents at Bank of America 2026 Media,Communications & Entertainment Conference Transcript

SA Transcripts 162.15K Followers Follow Digital Realty Trust, Inc. ( DLR ) Bank of America 2026 Media,Communications & Entertainment Conference September 9, 2026 2:00 PM EDT Company Participants Jordan Sadler - Senior VP of Public & Private Investor Relations Conference Call Participants Michael Funk - BofA Securities, Research Division Presentation Michael Funk BofA Securities, Research Division Thank you again for being here with us today. Michael Funk, Bank of America. Really happy to have Jordan Sadler from Digital Realty. We were just saying before we walked in that we're going to have Digital Realty, I think, speaking 3x in the next 1.5 weeks at Bank of America. So thank you again for being here with us this afternoon for the first of the 3 presentations. I don't know if you had any kind of safe harbor that you wanted to read off first, Jordan or anything else? Jordan Sadler Senior VP of Public & Private Investor Relations No safe harbor per se, but please do visit our website, our Investor Relations website in the event anybody has any questions about some of the numbers or statistics or data we put out here today. Question-and-Answer Session Michael Funk BofA Securities, Research Division Okay. Perfect. I appreciate that. So I wanted to start with the core FFO growth because the commentary, the language, it evolved last quarter, right, the way you talked about the growth rate. And prior to last quarter, I get this partly wrong and you can correct me. But I think the narrative was more of like a high single digit for longer and steady narrative, and I'm paraphrasing. And then last quarter, I think you talked about double-digit growth for 2027 and beyond, right? So leaning more into development base growth and other factors driving higher growth. What was the genesis of that change in language or communication, if I'm framing that right?