Digital Realty Trust Inc

Digital Realty Trust Inc

DLR

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Market Cap$69.75B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Digital Realty Trust IncDigital Realty Trust Inc86.92.59%-17.1-

Earnings Call Q2 2026

July 23, 2026 - AI Summary

Results beat + guidance raised (core growth continues): - Q2 2026 core FFO per share (ex–net promote income) was $2.13, up 14% YoY and above expectations; including net promote income, core FFO was $2.65. - Management raised full-year 2026 core FFO guidance (ex–net promote) by $0.15 at the low end / $0.10 at the high end to $8.15–$8.20 per share, implying ~10% constant-currency growth at midpoint. - Outlook for rental economics: expects cash renewal spreads of 9%–11% (up +250 bps vs last quarter), and same-capital cash NOI growth of 4.25%–5.25% (constant currency).
Leasing / demand strength is the key driver (especially interconnection + renewals): - Bookings record: $108M bookings in 0–1 MW plus interconnection (new record; third consecutive quarterly record), exceeding the $100M mark; also +11% vs prior quarter record. - Interconnection bookings were $20.5M (+18% YoY). - Renewal spreads were exceptional: 25%+ renewal spreads (record), with limited churn and strong repricing in constrained markets (notably APAC / Singapore). - Subsequent to quarter end: signed 2 hyperscale leases for ~$410M annualized GAAP base rent (100% share) or $205M at Digital Realty’s share.
Backlog and development pipeline expand visibility (multi-year growth runway): - Total backlog reached a new record $1.9B at quarter-end (100% share), and $1.4B at DLR share—~30% of in-place data center rent. - Commencements strong: $208M annualized rent commenced in Q2 (third strongest on record). - Future commencements: $635M annualized rent in H2 2026 (45% in Q3, 55% in Q4), plus $480M in 2027, and $312M already slated for 2028+. - Development pipeline: expanded to 1.4 GW under construction (total cost $20B), ~63% pre-leased and ~11.5% expected stabilized yield; 80%+ located in the Americas.

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$215.69

Target Price by Analysts

14.4% upsideDigital Realty Trust Target Price DetailsTarget Price
$-70.57

Current Fair Value

137.4% downside

Overvalued by 137.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$69.75 Billion
Enterprise Value$68.64 Billion
Dividend Yield$4.88 (2.59%)
Earnings per Share$3.73
Beta1.05
Outstanding Shares354,118,000

Return

Return on EquityNaN%ROE
Return on Assets1.05%
Return on Invested Capital5.04%

Valuation & Multiples

P/E Ratio86.88P/E Ratio
PEG-54.2PEG
Price to Sales17.14Price to Sales
Price to Book Ratio4.1Price to Book Ratio
Enterprise Value to Revenue17.04
Enterprise Value to EBIT82.22
Enterprise Value to Net Income395
Total Debt to Enterprise0
Debt to Equity-Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 23, 2026
EPS Estimate
$0.48
Average shareholder expectation
Revenue Estimate
$1.66 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 22, 2026
EPS Estimate
$0.57
Average shareholder expectation
Revenue Estimate
$1.74 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 393.67%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %4.81%▼ 88.07%
Total Invested$2.98B▼ 94.82%
Investors Holding518▼ 758.00%

ESG Score

No data

About Digital Realty Trust Inc

2,878 employees
CEO: A. William Stein

Relevant Senate Committees

Joint Committee on Taxation

This committee directly influences the drafting and analysis of tax legislation, which is paramount for DLR as a REIT and its corporate tax structure, capital investment, and overall profitability.

Finance

This powerful committee controls taxation and trade. Its decisions on corporate tax policy are directly critical for a REIT like DLR, affecting its profitability, valuation, and capital structure.

Banking, Housing, and Urban Affairs

As a Real Estate Investment Trust (REIT), DLR is directly impacted by regulations concerning financial vehicles, real estate markets, and broader financial system oversight, all under this committee's jurisdiction.

Commerce, Science, and Transportation

This committee regulates 'Big Tech,' telecommunications, and internet policy (e.g., privacy, net neutrality), which are critical to DLR's core client base and the demand for its data center services.

Energy and Natural Resources

Data centers are major energy consumers. This committee's oversight of national energy policy, pricing, and sources directly impacts DLR's operational costs and sustainability initiatives.