DLR · Digital Realty Trust, Inc.
$192.36
-2.90 (-1.48%)
At close · Aug 19
View the 10-K filed Feb 13, 2026
Customer concentration
— top 20 customers 51% of revenue
20 customers — 51% of revenue (December 31, 2025)
“As of December 31, 2025, the 20 largest customers in our portfolio represented approximately 51% of the total annualized recurring revenue generated by our properties.”
3 customers — 26% of revenue (December 31, 2025)
“Our top three customers represented approximately 26% of the total annualized recurring revenue generated by our properties as of December 31, 2025.”
Market Cap
$66.76B
Shares
351.41M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$195.25
Open$198.83
Day$195.13–199.21
52W close$147.93–203.91
Avg vol 30d2.7M
Short int8.4M · 2.4% float · 2.6d
Short vol54%
Last earningsJul 23, 2026
DataJan 2020–Aug 2026
Filing10-Q · Jul 31
Up next
Next earnings call
Oct 22, 2026
Est · unconfirmed
· in 9 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Jul 31, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceOverall
Buy
SellHoldBuy
Technical
Buy
Momentum
Strong
Sentiment
Bullish
Fundamentals
Excellent
Quant / Vol
Moderate
Market backdrop
VIX 15.8 · calm
Equity put/call 0.64
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+10%
above
Price vs 50-day avg
+5%
above
RSI (14)
56
neutral
MACD trend
Positive
52-week position
85%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
+9%
trailing
6-month return
+9%
trailing
YTD return
+26%
this year
Relative strength
−2%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $186 › 200d $177 — 50d above 200d
Institutional flow
Accumulating
+5% holders QoQ · +158 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
2.40% of float · ▼ -0.6% MoM · 2.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,322 holders — near 3-yr high, broad support
Squeeze score
53
elevated · 0–100
Fundamentals
Revenue growth
+10%
Y/Y
EPS growth
+122%
Y/Y
Balance sheet
$511.4M
net cash
Quant / Vol
risk profile
Volatility
27%
annualized · 1-yr
Max drawdown
−17%
past year
ATR
2.6%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Mar 31, 2026
Cash renewal spreads
· 2026
6.5% – 8.5%
Same capital cash NOI growth on a constant currency basis
· 2026
4% – 5%
CapEx net of partner contributions
· 2026
$3.5B – $4B
Dispositions and JV capital recycling
· 2026
$500M – $1B
Prior guidance
period ended
· from the 8-K filed Oct 26, 2021
Core FFO per share
· 2021 Outlook
$6.50 – $6.55
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+10%
Bullish
Price vs 50-day avg
+5%
Bullish
RSI (14)
56
Neutral
MACD trend
Positive
Bullish
52-week position
85%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 3 of 6
Trend (MA cross)
No cross
50d $186 › 200d $177 — 50d above 200d
Institutional flow
Accumulating
+5% holders QoQ · +158 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
2.40% of float · ▼ -0.6% MoM · 2.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,322 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $148
Now $195 · 85%
Range high $204
vs 200-day avg +10%
vs 50-day avg +5%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| 0-1 MW Bookings | $87.8M | 2Q26 | — |
| 0-1 MW Renewal Spread (Cash) | 5.5% | 2Q26 | — |
| 0-1MW + Interconnection Bookings | $108M | 2Q26 | — |
| >1 MW Bookings | $99.8M | 2Q26 | — |
| Adjusted EBITDA non-GAAP | 977.59M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP EBITDA 1.1B
+62.97M Unconsolidated JV real estate related depreciation & amortization
+37.14M Unconsolidated JV interest expense and tax expense
+4.38M Severance, equity acceleration and legal expenses
+38.7M Transaction and integration expenses
-7.99M (Gain) loss on disposition of properties, net
+0K Provision for impairment
-82.08M Other non-core adjustments, net
-187.87M Net promote
+4.32M Noncontrolling interests
+10.18M Preferred stock dividends
= Adjusted EBITDA 977.59M
|
|||
| Adjusted Funds From Operations non-GAAP | 1.56B | Six Months Ended 30-Jun-26 | — |
| AFFO per share - diluted non-GAAP | $4.39 | Six Months Ended 30-Jun-26 | — |
| Annualized 2Q26 Cash NOI | $3.6B | Second Quarter 2026 | — |
| Annualized GAAP Rent at 100% Share (in thousands) | $1.19B | 2Q26 | — |
| Basic FFO per share and unit non-GAAP | $2.73 | Three Months Ended June 30, 2026 | — |
| Cash Net Operating Income non-GAAP | 898.33M | Q2 FY2026 | — |
| CFFO available to common stockholders and unitholders -- diluted non-GAAP | 955.76M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP FFO available to common stockholders and unitholders -- diluted $981.91M
-$80.84M Other non-core revenue adjustments
+$38.7M Transaction and integration expenses
+$0K Gain (loss) on debt extinguishment and modifications
+$4.38M Severance, equity acceleration and legal expenses
-$1.61M (Gain) / Loss on FX and derivatives revaluation
+$13.21M Other non-core expense adjustments
= CFFO available to common stockholders and unitholders -- diluted $955.76M
|
|||
| Consolidated Portfolio Total Annualized Base Rent | $4.52B | 30-Jun-26 | — |
| Consolidated Portfolio Total Occupancy | 89.3% | 30-Jun-26 | — |
| Consolidated Portfolio Total White Space IT Load | 2,285 | 30-Jun-26 | — |
| Constant Currency Core FFO (Excluding Net Promote) non-GAAP | 760.17M | Q2 FY2026 | — |
GAAP → non-GAAP reconciliationGAAP Core Funds From Operations (excluding net promote) $767.89M
-$7.72M CFFO impact of holding '25 Exchange Rates Constant
= Constant Currency Core FFO (Excluding Net Promote) $760.17M
|
|||
| Constant Currency Core FFO Per Share (Excluding Net Promote) non-GAAP | $2.11 | Q2 FY2026 | — |
| Constant Currency Same Capital Cash Net Operating Income non-GAAP | 686.59M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Same Capital Cash Net Operating Income 697.51M
-10.92M Same Capital Cash NOI impact of holding '25 Exchange Rates Constant
= Constant Currency Same Capital Cash Net Operating Income 686.59M
|
|||
| Core FFO (Excluding Net Promote) non-GAAP | 767.89M | Q2 FY2026 | — |
| Core FFO per share (excluding net promote) - diluted non-GAAP | $2.13 | Three Months Ended June 30, 2026 | — |
| Data Center Construction Under Construction IT Capacity (MW) | 1,402 | Second Quarter 2026 | — |
| Data Centers | 310 | Q2 FY2026 | — |
| debt-plus-preferred-to-total enterprise value non-GAAP | 22.3% | Second Quarter 2026 | — |
| Development and Management Fees (net), Annualized (excluding promote income) non-GAAP | 190.18M | Second Quarter 2026 | — |
| Digital Realty's Pro Rata Share of Unconsolidated Entities Cash NOI non-GAAP | 375.58M | Second Quarter 2026 | — |
| Diluted AFFO Payout Ratio non-GAAP | 55.6% | Six Months Ended 30-Jun-26 | — |
| Diluted FFO per share and unit non-GAAP | $2.73 | Three Months Ended June 30, 2026 | — |
| FFO available to common stockholders and unitholders non-GAAP | 981.91M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income available to common stockholders $443.11M
+$9M Noncontrolling interests in operating partnership
+$499.11M Real estate related depreciation and amortization
-$24.29M Depreciation related to non-controlling interests
+$62.97M Real estate related depreciation and amortization related to investment in unconsolidated entities
-$7.99M (Gain) loss on real estate transactions
+$0K Provision for impairment
= FFO available to common stockholders and unitholders $981.91M
|
|||
| Future Development IT Capacity | 3 | as of June 30, 2026 | — |
| FY 2026 backlog cash NOI and 2Q26 carry-over (stabilized) non-GAAP | 336.84M | Second Quarter 2026 | — |
| GAAP Rent per Kilowatt / NRSF | $203 | LTM | — |
| Global Capacity | 9 | as of June 30, 2026 | — |
| Grand Total at 100% Share | 306,944 | Second Quarter 2026 | — |
| Grand Total at DLR Share | 208,495 | Second Quarter 2026 | — |
| Initial Stabilized cash rent per Kilowatt / NRSF | $185 | LTM | — |
| Interconnection Bookings | $20.5M | 2Q26 | — |
| IT Load Capacity MWs | 3,102 | Q2 FY2026 | — |
| Kilowatt Leased / NRSF (in thousands) | 363.4M | LTM | — |
| LQA Adjusted EBITDA non-GAAP | 3.91B | QE 6/30/26 | — |
| New Logos Added | 142 | 2Q26 | — |
| Occupancy at end of quarter | 90.2% | Q2 FY2026 | — |
| Occupied MWs | 2,799 | Q2 FY2026 | — |
| Portfolio Total/Weighted Average Annualized Base Rent (100% Share) | $5.68B | 30-Jun-26 | — |
| Portfolio Total/Weighted Average Annualized Base Rent (Digital Realty Share) | $4.81B | 30-Jun-26 | — |
| Portfolio Total/Weighted Average Data Center Count (100% Share) | 310 | 30-Jun-26 | — |
| Portfolio Total/Weighted Average Occupancy (100% Share) | 90.2% | 30-Jun-26 | — |
| Portfolio Total/Weighted Average Occupancy (Digital Realty Share) | 89.8% | 30-Jun-26 | — |
| Portfolio Total/Weighted Average White Space IT Load (100% Share) | 3,102 | 30-Jun-26 | — |
| Portfolio Total/Weighted Average White Space IT Load (Digital Realty Share) | 2,515 | 30-Jun-26 | — |
| Recurring Capital Expenditures | $76.67M | Three Months Ended 30-Jun-26 | — |
| Rental rate increases on renewal leases (cash basis) | 25.4% | Q2 FY2026 | — |
| Rental rate increases on renewal leases (GAAP basis) | 32% | Q2 FY2026 | — |
| Same Capital Cash Net Operating Income non-GAAP | 697.51M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net Operating Income 702.83M
-4.64M Stabilized straight-line rent
-683K Above and below market rent
= Same Capital Cash Net Operating Income 697.51M
|
|||
| Same-capital occupancy at end of quarter | 92.5% | Q2 FY2026 | — |
| Signed renewals annualized rental revenue | $261M | 2Q26 | — |
| Stabilized Portfolio Occupancy at period end | 92.5% | Three Months Ended 30-Jun-26 | — |
| Total backlog annualized GAAP base rent at 100% share | $1.9B | Q2 FY2026 | — |
| Total backlog annualized GAAP base rent at DLR share | $1.4B | Q2 FY2026 | — |
| Total Bookings | $208.5M | 2Q26 | — |
| Total Bookings at 100% Share | $307M | 2Q26 | — |
| Total Cash NOI, Annualized non-GAAP | 3.59B | Second Quarter 2026 | — |
| Total Consolidated Cash NOI, Annualized non-GAAP | 3.91B | Second Quarter 2026 | — |
| Total debt / total enterprise value | 21.4% | QE 6/30/26 | — |
| Total Direct Capital Expenditures | $831.7M | Three Months Ended 30-Jun-26 | — |
| Total Future Development Capacity Land (MW) | 6,560 | Second Quarter 2026 | — |
| Total Future Development Capacity Shell (MW) | 550 | Second Quarter 2026 | — |
| Total Improvements to and Advances for Investment in Real Estate | $914.19M | Three Months Ended 30-Jun-26 | — |
| Total Indirect Capital Expenditures | $82.49M | Three Months Ended 30-Jun-26 | — |
| Total Non-Recurring Capital Expenditures | $755.03M | Three Months Ended 30-Jun-26 | — |
| Under Construction | 1.4 | as of June 30, 2026 | — |
| Unsecured Debt / Total Debt | 91.6% | QE 6/30/26 | — |
| Weighted average common stock and units outstanding -- diluted non-GAAP | 360.65M | Three Months Ended June 30, 2026 | — |
| Weighted average remaining lease term (years) | 4.1 | Q2 FY2026 | — |
| Weighted Avg. Coupon | 2.9% | as of June 30, 2026 | — |
| Weighted Avg. Maturity | 4.5 | as of June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Specialty — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
DLR
this stock
Digital Realty Trust, Inc.
|
$66.76B | +26.2% | +10.0% | — | 2.4% |
|
EQIX
Equinix Inc
|
$105.06B | +41.6% | +7.8% | 68.5 | 1.9% |
|
AMT
American Tower Corp /Ma/
|
$80.29B | -1.8% | +5.1% | 27.8 | 1.6% |
|
IRM
Iron Mountain Inc
|
$38.67B | +52.7% | +8.3% | 92.1 | 2.8% |
|
CCI
Crown Castle Inc.
|
$31.50B | -16.7% | -4.4% | 37.6 | 2.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| DLR | +2.3% | +8.9% | +8.7% | +3.6% | +26.2% |
| SPY | -0.4% | +2.6% | +10.7% | +2.7% | +12.5% |
| vs SPY | +2.7% | +6.3% | -2.0% | +0.8% | +13.7% |
Capital returns
Latest dividend
$1.22
/ share · ex Jun 15, 2026
Declared · upcoming
$1.22
/ share · ex Sep 15, 2026
Paid (TTM)
$4.88
/ share · 4 payouts
Dividend yield (TTM, derived)
2.50%
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1297996
CUSIP
253868103
13F (30d)
1213 filings
1153 filers
Visit website
Investor relations