Latest revenue
$1.64B
as of 2026-03-31
Latest net income
$179.3M
as of 2026-03-31
Net margin
11.0%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $67.48B
- Enterprise value
- $65.77B
- P/E (trailing)
- 51.6×
- Forward P/E
- —
- P/B
- 2.93×
- Dividend yield
- 2.5%
- 52-wk high
- $208.14
- 52-wk low
- $146.23
- Beta
- —
- Shares out
- 351.4M
5-year trend
What this company does
Digital Realty Trust owns, develops, and operates data centers, leasing space and power to technology, cloud, and enterprise customers across 223 facilities globally. The company generates revenue primarily through long-term rental agreements on its 36 million square feet of data center space, structured as a REIT that distributes income to shareholders. Digital Realty is integrating its pending InterXion combination to expand European colocation and interconnection capabilities, building on prior DuPont Fabros and Ascenty acquisitions.
Generated from DLR's filing dated 2026-02-13
Key risks
- Pending InterXion combination: integration failure, unrealized synergies, or deal-related liabilities could disrupt operations and weigh on returns.
- Heavy development pipeline exposure: 3.1M sq ft under construction plus 2.3M sq ft held for development risks lease-up shortfalls and cost overruns.
- Capital-structure dependence: REIT model relies on external debt/equity; rising rates, FX swings, or credit downgrades could pressure refinancing and covenants.
Generated from DLR's filing dated 2026-02-13
Profitability
Operating margin
10.8%
26.8%Net margin
21.4%
97.4%Return on equity
5.7%
102.2%Return on assets
2.6%
99.1%Leverage
Debt / equity
1.16×
3.0%Long-term debt / equity
0.71×
8.0%Debt / assets
53.6%
1.4%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $1.64B | +16.2% | $179.3M | +63.0% | 11.0% |
Q4 2025 2025-12-31 | $1.63B | +13.8% | $98.6M | -48.0% | 6.0% |
Q3 2025 2025-09-30 | $1.58B | +10.2% | $67.8M | +32.5% | 4.3% |
Q2 2025 2025-06-30 | $1.49B | +10.1% | $1.03B | +1186.7% | 69.1% |
Q1 2025 2025-03-31 | $1.41B | +5.7% | $110.0M | -60.9% | 7.8% |
Q4 2024 2024-12-31 | $1.44B | — | $189.6M | — | 13.2% |
Q3 2024 2024-09-30 | $1.43B | +2.1% | $51.2M | -93.0% | 3.6% |
Q2 2024 2024-06-30 | $1.36B | -0.7% | $80.2M | -32.1% | 5.9% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Real Estate Investment Trusts · SIC 6798
Your notes
Keep private notes on DLR — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$10.8M
Net activity
−$10.8M
Distinct insiders
3
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns DLR
Institutional value
$20.93B
Total shares held
118.7M
Distinct holders
753
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD PORTFOLIO MANAGEMENT LLC | 29.5M | $5.31B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 21.7M | $3.91B | — | New |
| 3 | DIMENSIONAL FUND ADVISORS LP | 4.9M | $874.0M | — | New |
| 4 | Invesco Ltd. | 4.3M | $770.2M | — | New |
| 5 | Legal & General Group Plc | 3.9M | $697.1M | — | New |
| 6 | PRINCIPAL FINANCIAL GROUP INC | 3.7M | $667.7M | — | New |
| 7 | CENTERSQUARE INVESTMENT MANAGEMENT LLC | 3.1M | $552.3M | — | New |
| 8 | Nuveen, LLC | 2.7M | $484.1M | — | New |
| 9 | DEUTSCHE BANK AG\ | 2.3M | $417.5M | — | New |
| 10 | Russell Investments Group, Ltd. | 2.2M | $398.9M | — | New |
| 11 | Bank of New York Mellon Corp | 2.0M | $351.8M | — | New |
| 12 | VANGUARD FIDUCIARY TRUST CO | 1.8M | $331.0M | — | New |
| 13 | UBS Group AG | 1.8M | $326.3M | — | New |
| 14 | DUFF & PHELPS INVESTMENT MANAGEMENT CO | 1.5M | $278.8M | — | New |
| 15 | HSBC HOLDINGS PLC | 1.5M | $261.9M | — | New |
| 16 | Pictet Asset Management Holding SA | 1.1M | $203.7M | — | New |
| 17 | Mitsubishi UFJ Asset Management Co., Ltd. | 1.0M | $183.0M | — | New |
| 18 | Swiss National Bank | 1.0M | $181.7M | — | New |
| 19 | Sumitomo Mitsui Trust Group, Inc. | 1.0M | $181.1M | — | New |
| 20 | Universal- Beteiligungs- und Servicegesellschaft mbH | 1.0M | $180.5M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With $4.48B revenue and 27% net margin, how much reflects one-time gains versus sustainable cash NOI growth from leasing?
- 2
Given hyperscaler concentration risk flagged in your filing, what percent of 2026 expirations are tied to your top-five customers?
- 3
How are forward sale agreement settlements and equity issuance diluting per-share FFO growth amid rising development capex?
Refreshed when DLR files a new report · last from 2026-02-13