Today, Digital Realty Trust (DLR 0.37%) reported its 2013 full-year earnings, and it saw its funds from operation (FFO) rise to $4.74 for the full year, and $1.26 in the fourth quarter. These are increases of 7% and 9%, respectively, versus comparable 2012 figures.

"Digital Realty closed the year on a very positive note, with record leasing results for the fourth quarter and full-year 2013 driven by strong sales execution and large customer requirements to deploy cloud infrastructure and applications," noted the CEO of Digital Realty, Michael Foust. "We are encouraged by the broader range of customers we are attracting as a result of our mid-market initiative as well as strong customer demand for our colocation offerings."

In the fourth quarter, Digital Realty Trust saw its operating revenues rise 9%, to $381 million. However, as a result of higher depreciation and amortization cost,s as well as a greater number of shares outstanding, its net income per share available to common shareholders fell from $0.36 in the fourth quarter of 2012 to $0.33 in 2013. However, for the full year, its net income per share was well above 2012 levels, standing at $2.12, an increase of 43%.

"Fourth quarter financial results were ahead of plan due to a combination of lower-than-expected financing costs from the delayed execution of anticipated long-term debt and preferred equity issuances, lower bonus accruals, and operating expense savings from efficient property-level technical operations," Foust continued.

In addition, Digital Realty also announced it has made a $35 million property acquisition of a 108,000 square foot facility in Somerset, New Jersey. The facility is 100% leased for the next nine years to an AA-rated financial services tenant. The property will be contributed to an existing joint venture with Prudential Real Estate Investors' core fund, PRISA, where the joint venture will assume, and ultimately pre-pay, the in-place debt.

Previously, Digital Realty announced it expected its core FFO to be between $4.75 and $4.90, and it reaffirmed that guidance in its latest earnings report. Foust concluded his remarks by noting, "Our strong fourth quarter leasing and financial results set the stage for positive forward momentum in 2014."