Digital Realty (DLR) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$0.73

$0.73$0.73

vs $0.39+86.4%

1 analyst

Next Qtr

$0.77

$0.77$0.77

vs $0.34+128.5%

1 analyst

Current Yr

$2.97

$2.45$3.72

vs $1.57+88.6%

3 analysts

Next Yr

$2.86

$2.05$4.17

vs $2.97-3.5%

3 analysts

Revenue Estimates

Current Qtr

$1.66B

$1.57B$1.76B

vs $1.49B+11.1%

18 analysts

Next Qtr

$1.71B

$1.65B$1.78B

vs $1.58B+8.3%

18 analysts

Current Yr

$6.76B

$6.70B$7.00B

vs $6.11B+10.6%

25 analysts

Next Yr

$7.50B

$7.06B$7.89B

vs $6.76B+10.9%

25 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for DLR on EDGAR.

DLR filing events and research context
Filed	Item	Context
May 1, 2026	mda_quarterly	Digital Realty (DLR) reported strong operational growth for the first quarter of 2026, driven by the successful completion of its global development pipeline and robust leasing activity. Total operating revenues rose 16.2% year-over-year to $1.64 billion, supported by increased occupancy and favorable foreign exchange tailwinds. The company maintains a global portfolio of 309 data centers with an 89.4% occupancy rate. Management continues to prioritize a conservative capital structure, targeting a debt-to-Adjusted EBITDA ratio of 5.5x. Liquidity remains healthy, bolstered by $875 million in net proceeds from an ATM equity program during the quarter and approximately $3.7 billion in available capacity under its Global Revolving Credit Facilities. DLR is actively expanding, with 1,169 megawatts of projects currently underway—61% of which are pre-leased—and an estimated stabilized yield of 11.4%. Key risks identified include potential volatility in power costs, geopolitical instability in operating regions, and the impact of inflation on interest expenses and construction costs. While the company faces competitive pressure from private institutional investors, it remains focused on long-term earnings growth and maintaining its REIT status. The company’s strategic focus remains on high-quality, interconnected data center assets in key markets like Northern Virginia, Frankfurt, and Singapore.
Feb 13, 2026	business	Digital Realty Trust is a global REIT providing data center, colocation, and interconnection solutions. Its portfolio comprises 310 data centers across six continents, totaling approximately 57.6 million rentable square feet with an 84.7% lease rate. The company leverages PlatformDIGITAL and its Pervasive Data Center Architecture (PDx) to address "Data Gravity"—the increasing difficulty of relocating massive enterprise data sets. Key product offerings range from Turn-Key Flex colocation for smaller deployments to Powered Base Building solutions for large-scale custom infrastructure, supported by ServiceFabric for virtual network orchestration. Demand is driven by secular trends including artificial intelligence, 5G, the Internet of Things, and the shift toward hybrid cloud architectures. Digital Realty maintains significant scale with 2.9 GW of in-place IT capacity and over 5 GW of future development capacity. Its diversified customer base of over 5,000 clients includes major cloud providers and financial institutions, with the largest customer representing approximately 11.7% of aggregate annualized recurring revenue. The company focuses on high-density "internet gateway" hubs to create network effects and connectivity-centric communities that are difficult for competitors to replicate, reducing customer latency and operational risks.
Feb 13, 2026	mda	Digital Realty provides global data center, colocation, and interconnection solutions, reporting a 10% increase in total operating revenues to $6.1 billion for 2025. Growth was primarily driven by the completion of development pipelines in Northern Virginia, Johannesburg, and Portland. Northern Virginia remains the most critical market, accounting for 21.4% of annualized rent. The company is aggressively utilizing joint ventures and funds to scale, notably launching the Digital Realty DC Partners NA Fund with over $3 billion in equity commitments and forming a partnership with BDIA to develop data centers in Indonesia. Financial stability is supported by a conservative capital structure, with 92.2% of its $18.6 billion total debt at fixed rates and a target debt-to-Adjusted EBITDA ratio of 5.5x. Basic FFO per share increased to $6.94 in 2025. However, the company faces risks from volatile power pricing and regulatory energy costs, alongside $78.6 million in impairments from non-core properties in secondary U.S. markets. Looking forward, Digital Realty expects 2026 capital expenditures between $3.25 billion and $3.75 billion to fund ongoing development and capacity expansion.

Filed

Item

Context

May 1, 2026

mda_quarterly

Digital Realty (DLR) reported strong operational growth for the first quarter of 2026, driven by the successful completion of its global development pipeline and robust leasing activity. Total operating revenues rose 16.2% year-over-year to $1.64 billion, supported by increased occupancy and favorable foreign exchange tailwinds. The company maintains a global portfolio of 309 data centers with an 89.4% occupancy rate. Management continues to prioritize a conservative capital structure, targeting a debt-to-Adjusted EBITDA ratio of 5.5x. Liquidity remains healthy, bolstered by $875 million in net proceeds from an ATM equity program during the quarter and approximately $3.7 billion in available capacity under its Global Revolving Credit Facilities. DLR is actively expanding, with 1,169 megawatts of projects currently underway—61% of which are pre-leased—and an estimated stabilized yield of 11.4%. Key risks identified include potential volatility in power costs, geopolitical instability in operating regions, and the impact of inflation on interest expenses and construction costs. While the company faces competitive pressure from private institutional investors, it remains focused on long-term earnings growth and maintaining its REIT status. The company’s strategic focus remains on high-quality, interconnected data center assets in key markets like Northern Virginia, Frankfurt, and Singapore.

Feb 13, 2026

business

Digital Realty Trust is a global REIT providing data center, colocation, and interconnection solutions. Its portfolio comprises 310 data centers across six continents, totaling approximately 57.6 million rentable square feet with an 84.7% lease rate. The company leverages PlatformDIGITAL and its Pervasive Data Center Architecture (PDx) to address "Data Gravity"—the increasing difficulty of relocating massive enterprise data sets. Key product offerings range from Turn-Key Flex colocation for smaller deployments to Powered Base Building solutions for large-scale custom infrastructure, supported by ServiceFabric for virtual network orchestration. Demand is driven by secular trends including artificial intelligence, 5G, the Internet of Things, and the shift toward hybrid cloud architectures. Digital Realty maintains significant scale with 2.9 GW of in-place IT capacity and over 5 GW of future development capacity. Its diversified customer base of over 5,000 clients includes major cloud providers and financial institutions, with the largest customer representing approximately 11.7% of aggregate annualized recurring revenue. The company focuses on high-density "internet gateway" hubs to create network effects and connectivity-centric communities that are difficult for competitors to replicate, reducing customer latency and operational risks.

Feb 13, 2026

mda

Digital Realty provides global data center, colocation, and interconnection solutions, reporting a 10% increase in total operating revenues to $6.1 billion for 2025. Growth was primarily driven by the completion of development pipelines in Northern Virginia, Johannesburg, and Portland. Northern Virginia remains the most critical market, accounting for 21.4% of annualized rent. The company is aggressively utilizing joint ventures and funds to scale, notably launching the Digital Realty DC Partners NA Fund with over $3 billion in equity commitments and forming a partnership with BDIA to develop data centers in Indonesia. Financial stability is supported by a conservative capital structure, with 92.2% of its $18.6 billion total debt at fixed rates and a target debt-to-Adjusted EBITDA ratio of 5.5x. Basic FFO per share increased to $6.94 in 2025. However, the company faces risks from volatile power pricing and regulatory energy costs, alongside $78.6 million in impairments from non-core properties in secondary U.S. markets. Looking forward, Digital Realty expects 2026 capital expenditures between $3.25 billion and $3.75 billion to fund ongoing development and capacity expansion.

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DLR filing events and research context

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