DuPont Fabros Technology

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  • Wed, Feb. 10, 1:47 PM
    • DuPont Fabros Technology (NYSE:DFT) is up 3.9% after it said seven of its data centers have attained required SSAE 16 attestation in its most recent round of audits.
    • The data centers are located in four markets in Virginia, New Jersey, California and Illinois. The SEC sees SSAE 16 as an acceptable assertion about internal controls at service organizations.
    • "Successfully completing the SSAE 16 requirements is an annual achievement for us and a testament to our relentless focus on meeting customer needs," says CTO Scott Davis.
    | Wed, Feb. 10, 1:47 PM
  • Thu, Feb. 4, 4:05 PM
    • DuPont Fabros Technology (NYSE:DFT) picked up 3.7% today after its Q4 revenues beat expectations easily.
    • Operating portfolio is 98% leased and commenced (as of today) on a computer room square foot basis, and 96% in critical load terms.
    • The company lost $1.23/share including a $1.52/share impairment due to putting the NJ1 data center on the block; outside of that, earnings were $0.29/share, up from the prior $0.28 and beating an expected $0.27.
    • Revenues were up 7.4% mainly due to new leases, and partly offset by the vacancy in Q4 of ACC2.
    • The company established a 2016 normalized FFO guidance range of $2.65-$2.85 per share; the midpoint is $0.29 higher than 2015's normalized FFO/share. For Q1, the company's guiding to FFO/share of $0.66 to $0.68.
    • Press Release
    | Thu, Feb. 4, 4:05 PM
  • Thu, Feb. 4, 7:19 AM
    • DuPont Fabros (NYSE:DFT): Q4 FFO of $0.61 in-line.
    • Revenue of $115.92M (+7.4% Y/Y) beats by $6.34M.
    • Press Release
    | Thu, Feb. 4, 7:19 AM
  • Wed, Feb. 3, 5:30 PM
  • Fri, Jan. 29, 8:02 PM
    • Data-center REITs Equinix (EQIX +3.5%) and DuPont Fabros Technology (DFT +1.9%) had Buy ratings reiterated by SunTrust Robinson Humphrey, with an eye toward the solid cloud computing growth shown by and Microsoft.
    • As cloud players compete, the firm's Inder Singh writes, it's "fueling data center demand."
    • "We believe DFT continues to win deals due to its scale and density and remains a major enabler of the cloud," Singh says, "counting Microsoft (22.7% of annualized rent as of 3Q15), Rackspace (10.3%) and a Fortune 1000 leading Software as a Service (SaaS) Provider (6.5%) as its top customers."
    • Equinix benefits from a large footprint and its scale, he says. "While Equinix has a well distributed customer list with its top 10 customers only accounting for roughly 16.5% of revenue as of the end of 3Q15, Cloud customers make up four of its top 10 customers accounting for roughly 8.5% of revenue."
    • Previously: Equinix closes Telecity deal, becomes top data center player in Europe (Jan. 15 2016)
    • Previously: SunTrust bullish on data centers, picks CONE, DFT, EQIX (Nov. 24 2015)
    | Fri, Jan. 29, 8:02 PM
  • Tue, Jan. 5, 4:46 PM
    • DuPont Fabros Technology (DFT +2.1%) says it will market its NJ1 data center for sale, saying it's better suited for a more retail-oriented operation.
    • The marketing plan means an impairment charge for Q4, between $115M and $135M, to lower book value of NJ1 to its estimated fair value. That would lower EPS (to $1.41 from $1.66) but leave FFO unaffected, the company says.
    • The center is about 360K gross square feet, in two phases, with Phase II available for future development. It features about 18.2 megawatts of critical load power, some 52% of which is leased (70% of raised floor area is leased).
    • "Our plan to exit the New Jersey market with the sale of this property will allow redeployment of capital in target markets that match our objectives for growth and profitability," says CEO Chris Eldredge. He adds that customers of NJ1 will be protected with service during the effort.
    • Funds raised from the sale will partly fund expansion into new markets, specifically including Toronto; Portland, Ore.; or Phoenix.
    | Tue, Jan. 5, 4:46 PM | 2 Comments
  • Dec. 8, 2015, 12:33 PM
    • DuPont Fabros Technology (DFT -1%) has made two appointments in the executive suite, naming Maria Kenny its chief development officer, and Scott Davis chief technology officer.
    • Both are also executive vice presidents in the new moves. Kenny will oversee all development activities and take responsibility for implementation of company's new data center designs.
    • Davis is responsible for all the designs, and operations of the multimarket premium wholesale data centers. He was executive VP for data center operations and will maintain those duties in the new role.
    • Kenny, meanwhile, was senior VP, finance and treasurer.
    | Dec. 8, 2015, 12:33 PM
  • Dec. 3, 2015, 4:19 PM
    • DuPont Fabros (NYSE:DFT) declares $0.47/share quarterly dividend, 11.9% increase from prior dividend of $0.42.
    • Forward yield 5.88%
    • Payable Jan. 15; for shareholders of record Dec. 30; ex-div Dec. 28.
    | Dec. 3, 2015, 4:19 PM | 1 Comment
  • Nov. 24, 2015, 8:28 PM
    • Favorable trends in cloud traffic are a boon for data-center companies, says SunTrust Robinson Humphrey in a positive launch on the sector.
    • Analyst Inder Singh singled out CyrusOne (NASDAQ:CONE), DuPont Fabros (NYSE:DFT) and Equinix (NASDAQ:EQIX) as picks in the space, which should benefit from growing bandwidth-intensive applications, particularly streaming video. Traffic is expected to grow at a compound annual growth rate of 23% through 2019.
    • "Given that two-thirds of internet traffic is data center related, the importance of data centers both from a colocation and cloud perspective is significant," says Singh. "Data center traffic is the biggest component of Internet traffic, almost twice as much as the traffic that transverses IP WAN networks."
    • Mergers and acquisitions could continue, too, as companies look to become "one-stop shops" for clients and pursue scale.
    • The firm launched CONE, DFT, EQIX and Zayo Group (NYSE:ZAYO) at Buy, along with a Buy rating for Cisco Systems (NASDAQ:CSCO), as well as a Neutral rating for Internap (NASDAQ:INAP).
    • Price targets: $43 for CONE (22% upside from today's $35.25); $40 for DFT (22% upside from today's $32.90); $345 for Equinix (18% upside form today's $293.21); $32 for Cisco (17% upside from today's $27.27); $7.50 for Internap (7.5% upside from today's $6.98); $34 for Zayo (41% upside from today's $24.02).
    | Nov. 24, 2015, 8:28 PM | 8 Comments
  • Nov. 23, 2015, 8:34 PM
    • Data center operators probably aren't in a buying mood for facilities that might be for sale -- particularly CenturyLink's, Macquarie suggests in a new report -- but private-equity firms could come in with bids.
    • CenturyLink (NYSE:CTL), the nation's third-largest local phone company, plans to sell 59 centers worldwide, and while Macquarie had thought Digital Realty Trust (NYSE:DLR) would get involved, analyst Kevin Smithen has changed his view after attending an industry trade show.
    • He now doubts that a buyer will come from among Digital Realty, DuPont Fabros (NYSE:DFT), Equinix (NASDAQ:EQIX), CyrusOne (NASDAQ:CONE), CoreSite or QTS Realty, with a limited "pool of logical and capable buyers" for assets from CenturyLink, or from Verizon (NYSE:VZ) or AT&T (NYSE:T). But near term, "private equity seems like the most likely acquirer of assets this size."
    • While CenturyLink assets are for sale, Verizon CFO Fran Shammo tried to shut down "speculative" reports that the company would pursue $10B in asset sales.
    | Nov. 23, 2015, 8:34 PM | 3 Comments
  • Nov. 17, 2015, 10:03 AM
    | Nov. 17, 2015, 10:03 AM
  • Nov. 13, 2015, 11:06 AM
    • Co-founder and Vice Chairman Hossein Fateh has resigned from the board of DuPont Fabros Technology (NYSE:DFT), electing to pursue other interests full time.
    • The move is effective today. Fateh co-founded the company with Lammot du Pont and was DFT's first CEO.
    • "DFT has a compelling strategic plan and a solid leadership team," Fateh says. "With the succession process completed, I now can devote my attention full time to other interests."
    | Nov. 13, 2015, 11:06 AM
  • Nov. 2, 2015, 9:27 AM
    • DuPont Fabros (NYSE:DFT) has hired industry veteran Robert O'Keefe as senior VP and chief marketing officer.
    • He'll oversee all of the company's marketing, communications, digital and brand management.
    • O'Keefe previously led marketing, business management and business development at NTT America, and served in previous stints at SanDisk and Frontier Communications.
    | Nov. 2, 2015, 9:27 AM
  • Oct. 29, 2015, 1:03 PM
    • DuPont Fabros (NYSE:DFT) has gained 2.6% following a Q3 report where it beat on top and bottom lines and commenced a pair of leases for 14,386 square feet combined.
    • FFO was $0.62/share (up 3%). Earnings of $0.29/share beat the non-GAAP expectation of $0.28.
    • Subsequent to the quarter's end, the company has signed eight leases totaling 162,496 computer-room square feet, with a weighted average lease term of 6.1 years.
    • As of today, the company says, its operating portfolio is 97% leased and 93% commenced on a square-foot basis (95% leased and 91% commenced in critical load).
    • The firm increased the capacity of its line of credit to $700M during the quarter, from $560M, and all $700M is available as of today.
    • Conference call beginning now (1 p.m. ET).
    | Oct. 29, 2015, 1:03 PM
  • Oct. 29, 2015, 7:04 AM
    • DuPont Fabros (NYSE:DFT): Q3 FFO of $0.62 beats by $0.01.
    • Revenue of $115.34M (+9.2% Y/Y) beats by $2.92M.
    | Oct. 29, 2015, 7:04 AM
  • Oct. 28, 2015, 5:30 PM
Company Description
Dupont Fabros Technology Inc is a real estate investment trust. The Company through its subsidiaries owns, acquires, develops and operates wholesale data centers used by national and international technology companies.
Sector: Financial
Country: United States