Net income for the third quarter of 2014 was $130 million, and net income available to common stockholders was $109 million, or $0.80 per diluted share, compared to $0.31 per diluted share in the second quarter of 2014 and $1.06 per diluted share in the third quarter of 2013.

"We also realized another consistent contribution from our mid-market segment, with new leases signed during the third quarter expected to generate $5 million of annualized GAAP rental revenue,” adds Stein. “Pricing has firmed across products and regions, and net effective leasing economics continue to improve, driven by steady absorption of excess supply at the sector level, along with company-specific changes to our sales compensation program and tighter underwriting discipline.”

The weighted-average lag between leases signed during the third quarter of 2014 and the contractual commencement date was 5.5 months.

In addition to new leases signed, Digital Realty also signed renewal leases representing $56 million of annualized GAAP rental revenue during the quarter. Rental rates on renewal leases signed during the third quarter of 2014 rolled down 5% on a cash basis but rolled up 9% on a GAAP basis.

Industry analyst MLV & Co. LLC expects shares to move slightly higher, however, the firm notes that Digital Realty did not provide any update on the CEO transition on the earnings call, but says a decision is expected by the end of the year. “It is generally believed that interim CEO, Bill Stein, will assume the role, but until the position is filled, we believe the uncertainty will weigh on the shares.”

Another industry analyst, RBC Capital Markets, believes that leasing will remain strong for the company, and is raising its price target from $72 to $73.