(DLR) Digital Realty Trust - Overview

Sector: Real Estate | Industry: REIT - Specialty | Exchange: NYSE (USA) | Market Cap: 69.490m USD | Total Return: 17.7% in 12m

Data Centers, Colocation, Interconnection, Real Estate
Total Rating 46
Safety 31
Buy Signal -0.61
REIT - Specialty
Industry Rotation: +4.5
Market Cap: 69.5B
Avg Turnover: 373M
Risk 3d forecast
Volatility25.1%
VaR 5th Pctl4.32%
VaR vs Median4.64%
Reward TTM
Sharpe Ratio0.73
Rel. Str. IBD62.6
Rel. Str. Peer Group72.9
Character TTM
Beta0.680
Beta Downside0.657
Hurst Exponent0.464
Drawdowns 3y
Max DD29.40%
CAGR/Max DD1.12
CAGR/Mean DD4.42
EPS (Earnings per Share) EPS (Earnings per Share) of DLR over the last years for every Quarter: "2021-03": 1.32, "2021-06": 0.45, "2021-09": 0.44, "2021-12": 3.71, "2022-03": 0.22, "2022-06": 0.19, "2022-09": 0.75, "2022-12": -0.02, "2023-03": 0.19, "2023-06": 0.37, "2023-09": 0.08, "2023-12": 0.08, "2024-03": 0.82, "2024-06": 0.2, "2024-09": 0.09, "2024-12": 0.2893, "2025-03": 0.3817, "2025-06": 0.3917, "2025-09": 0.15, "2025-12": 0.2388, "2026-03": 0.46,
EPS CAGR: 11.26%
EPS Trend: 38.4%
Last SUE: 0.38
Qual. Beats: 0
Revenue Revenue of DLR over the last years for every Quarter: 2021-03: 1090.391, 2021-06: 1093.188, 2021-09: 1133.136, 2021-12: 1111.167, 2022-03: 1127.322, 2022-06: 1139.322, 2022-09: 1192.083, 2022-12: 1233.108, 2023-03: 1338.723, 2023-06: 1366.267, 2023-09: 1402.432, 2023-12: 1369.639, 2024-03: 1331.143, 2024-06: 1356.749, 2024-09: 1431.214, 2024-12: 1435.862, 2025-03: 1407.637, 2025-06: 1493.15, 2025-09: 1577.234, 2025-12: 1712.393, 2026-03: 1635.172,
Rev. CAGR: 6.79%
Rev. Trend: 93.8%
Last SUE: 0.82
Qual. Beats: 0

Warnings

Earnings expected to drop: P/E 51.5 → Forward 109.9

Altman Z'' -0.52 < 1.0 - financial distress zone

Below Avwap Earnings

Tailwinds

Confidence

Description: DLR Digital Realty Trust

Digital Realty Trust, Inc. is a Maryland-based Real Estate Investment Trust (REIT) that specializes in the ownership, development, and operation of data centers globally. The company provides critical infrastructure for colocation and interconnection services, supporting a diverse client base across sectors such as cloud computing, financial services, and healthcare. As of early 2026, the firm manages a portfolio of 309 facilities across six continents, representing 3.0 gigawatts of active IT capacity and an additional 6.3 gigawatts in development.

The company operates under a REIT structure, which requires it to distribute at least 90% of taxable income to shareholders in exchange for corporate-level tax exemptions. Data center REITs benefit from high barriers to entry due to the significant capital expenditure required for specialized power cooling systems and fiber-optic connectivity. Investors may find it useful to review ValueRay for deeper technical analysis of these infrastructure assets.

Headlines to Watch Out For
  • Surge in generative AI demand accelerates multi-gigawatt development pipeline capacity utilization
  • High interest rates increase debt servicing costs for capital-intensive data center expansions
  • Cloud service provider capital expenditure cycles dictate wholesale colocation leasing velocity
  • Global power grid constraints and rising energy costs impact operational margin stability
  • Strategic interconnection growth and cross-connect volume drive high-margin recurring service revenue
Piotroski VR‑10 (Strict) 5.5
Net Income: 1.38b TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA 3.81 > 1.0
NWC/Revenue: -0.08% < 20% (prev 18.76%; Δ -18.84% < -1%)
CFO/TA 0.05 > 3% & CFO 2.55b > Net Income 1.38b
Net Debt (18.01b) to EBITDA (3.93b): 4.58 < 3
Current Ratio: 1.00 > 1.5 & < 3
Outstanding Shares: last quarter (353.3m) vs 12m ago 2.48% < -2%
Gross Margin: 25.12% > 18% (prev 0.55%; Δ 2.46k% > 0.5%)
Asset Turnover: 13.66% > 50% (prev 12.49%; Δ 1.17% > 0%)
Interest Coverage Ratio: 4.34 > 6 (EBITDA TTM 3.93b / Interest Expense TTM 455.9m)
Altman Z'' -0.52
A: -0.00 (Total Current Assets 3.86b - Total Current Liabilities 3.86b) / Total Assets 48.86b
B: -0.14 (Retained Earnings -6.95b / Total Assets 48.86b)
C: 0.04 (EBIT TTM 1.98b / Avg Total Assets 46.97b)
D: -0.32 (Book Value of Equity -7.46b / Total Liabilities 23.46b)
Altman-Z'' = -0.52 = B
Beneish M -1.92
DSRI: 0.91 (Receivables 1.43b/1.37b, Revenue 6.42b/5.63b)
GMI: 2.19 (GM 25.12% / 55.04%)
AQI: 1.03 (AQ_t 0.90 / AQ_t-1 0.87)
SGI: 1.14 (Revenue 6.42b / 5.63b)
TATA: -0.02 (NI 1.38b - CFO 2.55b) / TA 48.86b)
Beneish M = -1.92 (Cap -4..+1) = B
What is the price of DLR shares? As of May 23, 2026, the stock is trading at USD 194.27 with a total of 1,504,770 shares traded.
Over the past week, the price has changed by +1.87%, over one month by -4.40%, over three months by +9.79% and over the past year by +17.67%.
Is DLR a buy, sell or hold? Digital Realty Trust has received a consensus analysts rating of 4.07. Therefore, it is recommended to buy DLR.
  • StrongBuy: 12
  • Buy: 7
  • Hold: 6
  • Sell: 2
  • StrongSell: 0
What are the forecasts/targets for the DLR price?
Analysts Target Price 218.7 12.6%
Digital Realty Trust (DLR) - Fundamental Data Overview as of 23 May 2026
P/E Trailing = 51.5305
P/E Forward = 109.8901
P/S = 11.0056
P/B = 3.0157
P/EG = 13.0996
Revenue TTM = 6.42b USD
EBIT TTM = 1.98b USD
EBITDA TTM = 3.93b USD
Long Term Debt = 17.29b USD (from longTermDebt, last quarter)
Short Term Debt = 708.0m USD (from shortLongTermDebt, last quarter)
Debt = 20.43b USD (from shortLongTermDebtTotal, last quarter) + Leases 1.22b
Net Debt = 18.01b USD (calculated: Debt 20.43b - CCE 2.43b)
Enterprise Value = 87.50b USD (69.49b + Debt 20.43b - CCE 2.43b)
Interest Coverage Ratio = 4.34 (Ebit TTM 1.98b / Interest Expense TTM 455.9m)
EV/FCF = 75.84x (Enterprise Value 87.50b / FCF TTM 1.15b)
FCF Yield = 1.32% (FCF TTM 1.15b / Enterprise Value 87.50b)
FCF Margin = 17.98% (FCF TTM 1.15b / Revenue TTM 6.42b)
Net Margin = 21.47% (Net Income TTM 1.38b / Revenue TTM 6.42b)
Gross Margin = 25.12% ((Revenue TTM 6.42b - Cost of Revenue TTM 4.81b) / Revenue TTM)
Gross Margin QoQ = -3.80% (prev -1.41%)
Tobins Q-Ratio = 1.79 (Enterprise Value 87.50b / Total Assets 48.86b)
Interest Expense / Debt = 0.57% (Interest Expense 116.4m / Debt 20.43b)
Taxrate = 8.39% (16.0m / 190.8m)
NOPAT = 1.81b (EBIT 1.98b * (1 - 8.39%))
Current Ratio = 1.00 (Total Current Assets 3.86b / Total Current Liabilities 3.86b)
Debt / Equity = 0.87 (Debt 20.43b / totalStockholderEquity, last quarter 23.37b)
Debt / EBITDA = 4.58 (Net Debt 18.01b / EBITDA 3.93b)
Debt / FCF = 15.61 (Net Debt 18.01b / FCF TTM 1.15b)
Total Stockholder Equity = 23.06b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.93% (Net Income 1.38b / Total Assets 48.86b)
RoE = 4.59% (Net Income TTM 1.38b / Total Stockholder Equity 30.01b)
RoCE = 4.18% (EBIT 1.98b / Capital Employed (Equity 30.01b + L.T.Debt 17.29b))
RoIC = 4.14% (NOPAT 1.81b / Invested Capital 43.72b)
WACC = 6.59% (E(69.49b)/V(89.92b) * Re(8.38%) + D(20.43b)/V(89.92b) * Rd(0.57%) * (1-Tc(0.08)))
Discount Rate = 8.38% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 6.62%
[DCF] Terminal Value 77.62% ; FCFF base≈1.15b ; Y1≈757.5m ; Y5≈346.4m
 [DCF] Fair Price = N/A (negative equity: EV 9.29b - Net Debt 18.01b = -8.71b; debt exceeds intrinsic value)
 EPS Correlation: 38.36 | EPS CAGR: 11.26% | SUE: 0.38 | # QB: 0
Revenue Correlation: 93.80 | Revenue CAGR: 6.79% | SUE: 0.82 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.49 | Chg30d=+8.23% | Revisions=+53% | Analysts=17
EPS next Quarter (2026-09-30): EPS=0.52 | Chg30d=+9.07% | Revisions=+29% | Analysts=17
EPS current Year (2026-12-31): EPS=3.08 | Chg30d=-12.53% | Revisions=-20% | GrowthEPS=+95.9% | GrowthRev=+10.5%
EPS next Year (2027-12-31): EPS=3.11 | Chg30d=-3.88% | Revisions=-20% | GrowthEPS=+0.9% | GrowthRev=+10.9%
[Analyst] Revisions Ratio: +53%