Digital Realty Trust, Inc. (DLR)

NYSE: DLR · USD

$180

+0.95 (+0.5%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-27

Our latest published analysis: DLR rated Sell

Digital Realty Trust, Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$135 / share

Potential value

$168 / share

Upside to FV

-24.6%

from $180

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$67.5B
Revenue (ttm)	6.8B
Net income (ttm)	758.3M
EPS (ttm)	$2.08
Shares out	377.7M
P/E (trailing)	86.6x
P/E (forward)	66.2x
Dividend	$4.88 (2.71%)
Volume	2,280,364
Beta	1.01

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 6.8B
Net income (ttm): 758.3M
EPS (ttm): $2.08
P/E (trailing): 86.6x
P/E (forward): 66.2x
Market cap: $67.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$4.43B	$4.69B	$5.48B	$5.55B	$6.11B	+8.4%
Gross profit	$2.65B	$2.67B	$2.88B	$3.04B	$3.39B	+6.3%
Operating income	$694.0M	$590.0M	$524.5M	$471.9M	$658.5M	-1.3%
Net income	$1.71B	$377.7M	$948.8M	$602.5M	$1.31B	-6.5%
EPS (diluted)	$5.94	$1.11	$2.88	$1.61	$3.58	-11.9%
EBITDA	$3.60B	$2.29B	$3.16B	$2.87B	$3.59B	-0.1%
R&D	$0	$0	$0	—	—	-31.9%
SG&A	$400.7M	$422.2M	$449.1M	$480.0M	$560.5M	+8.8%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AMT	American Tower Corporation	85.1B	25.8x	7.5x	7.8%	+4.0%	+0.7%	Réduire
ARE	Alexandria Real Estate Equities Inc.	6.9B	—	2.4x	0.9%	+6.6%	-45.8%	Conserver
CCI	Crown Castle Inc.	37.4B	46.3x	9.1x	5.1%	-7.9%	-6.2%	Vendre
CPT	Camden Property Trust	10.3B	32.3x	6.6x	3.2%	+7.7%	-0.6%	Acheter
DOC	Healthpeak Properties, Inc.	13B	53.8x	4.4x	2.5%	+10.5%	+3.0%	Achat fort
EQIX	Equinix Inc.	99.7B	65.0x	10.1x	5.6%	+11.2%	+21.2%	Réduire

Base and Bull scenarios

Base55%

Price target

$134.60

-24.6% from spot

The base case models steady hyperscale and enterprise colocation demand offset by elevated debt service and capital intensity. Operating cash flows grow steadily but heavy development outlays keep free cash flow negative, aligning intrinsic worth with Fair value at $134.60. Disconfirmation occurs if refinancing rates escalate or revenue growth decelerates.

Consensus revenue growth across near-term fiscal periods
Gradual operating margin expansion toward normalized targets
Continued access to capital markets to fund development capital expenditures

Bull20%

Price target

$168.08

-5.9% from spot

In the bull case, power grid scarcity heightens tenant willingness to pay premium rental renewal spreads across PlatformDIGITAL campuses. Accelerated leasing absorption across international hubs drives double-digit cash flow growth, supporting valuation toward Potential value at $168.08. Disconfirmation occurs if utility energization lags or tenant renewal spreads soften.

Premium rental rate escalation across interconnected campuses
Accelerated lease commencement timelines across non-US metropolitan centers
Operating margin expansion as development campuses achieve full occupancy

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($134.60). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
7.9%	$153	$154	$154	$155	$156
8.4%	$142	$143	$143	$144	$145
8.9%	$134	$134	$135	$135	$136
9.4%	$126	$127	$127	$128	$128
9.9%	$120	$121	$121	$121	$122

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E66.2

P25 n/aP50 n/aP75 n/a

Trailing P/E87.1

P25 n/aP50 n/aP75 n/a

ROE2.9

P25 n/aP50 n/aP75 n/a

ROIC2.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All DLR indicators

Market & fundamental data

Available fields

262

Groups with data

Currency

USD

Showing 262 of 262 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001297996
Company name	Digital Realty Trust, Inc.
Country	United States
Country code	US
CUSIP number	253868103
Earnings date	2026-10-29
Earnings time	amc
Employees	4,282
Employees change	346
Employees growth	8.79%
Enterprise value	$86.1B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	2004
In index	SP500
Industry	REIT - Specialty
IPO date	2004-10-29
Is primary listing	Yes
Is SPAC	No
ISIN number	US2538681030
Last 10-K release date	2026-02-13
Last earnings date	2026-07-23
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$68B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$179.96
Price currency	USD
Sector	Real Estate
SIC code	6798
Stock price date	2026-10-28
Symbol	DLR
U.S. state	Texas
Website	https://www.digitalrealty.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (10Y)	74.88x
Average P/E ratio (3Y)	66.06x
Average P/E ratio (5Y)	61.04x
Earnings yield	1.15%
EV/Earnings	112.83x
EV/EBIT	70.2x
EV/EBITDA	26.65x
EV/Sales	12.66x
FCF / EV yield	-0.59%
FCF yield	-0.75%
Forward EV/Sales	11.58x
Forward P/E	74.68x
Forward P/S	9.12x
Graham number	58.08853
Graham upside	-67.45%
Industry forward P/E	37.13x
Industry P/E	37.98x
Lynch fair value	$17.46
Lynch upside	-90.22%
P/(OCF - SBC) ratio	23.52x
P/B ratio	2.48x
P/E ratio	86.6x
P/FFO ratio	121.31x
P/OCF ratio	22.71x
P/S ratio	9.97x
PEG ratio	10.51x
Price / tangible book value	4.54x
Price/EBITDA ratio	20.99x
Sector forward P/E	29.99x
Sector P/E	40.99x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	18.04%
EBITDA margin	47.51%
Effective tax rate	6.13%
Gross margin	56.99%
Operating margin	18.04%
Pretax margin	12.49%
Profit margin	11.83%
Profit per employee	$177,090
Profitable quarters	14
Profitable years	21
Revenue per employee	$1.6M
ROA	1.48%
ROA (5Y)	1.11%
ROCE	2.45%
ROE	2.91%
ROE (5Y)	4.85%
ROIC	2.42%
ROIC (5Y)	1.83%
SBC / revenue	1.51%
Tax / revenue	0.77%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-45.98%
EPS growth (Q)	-58.7%
EPS growth (QoQ)	166.67%
EPS growth 10Y	16.52%
EPS growth 3Y	19.46%
EPS growth 5Y	2.88%
EPS growth years	1
Net income growth	-42.22%
Net income growth (Q)	-56.08%
Net income growth (QoQ)	162.05%
Net income growth 3Y	25.12%
Net income growth 5Y	8.4%
Net income growth years	1
OCF growth	24.86%
OCF growth (Q)	65.74%
OCF growth (QoQ)	99.62%
OCF growth 10Y	13.44%
OCF growth 3Y	20.64%
OCF growth 5Y	9.97%
Revenue growth	18.85%
Revenue growth (Q)	29.91%
Revenue growth (QoQ)	17.8%
Revenue growth 10Y	13.11%
Revenue growth 3Y	9.76%
Revenue growth 5Y	9.31%
Revenue growth quarters	8
Revenue growth years	20

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-3.5B
Depreciation and amortization	$1.9B
EBIT	$1.2B
EBITDA	$3.2B
EPS	$2.08
FCF per share	$-1.34
Financing cash flow	$955.7M
Free cash flow	$-506.7M
Free cash flow minus SBC	$-608.9M
Funds from operations (FFO)	$2.9B
Gross profit	$3.9B
Income taxes	$51.7M
Investing cash flow	$-5.7B
Net cash flow	$-1.7B
Net income	$758.3M
Operating cash flow minus SBC	$2.9B
Operating income	$1.2B
Revenue	$6.8B
Stock-based compensation	$102.2M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$72.17
Debt / EBITDA	5.82
Debt / equity	0.68
Goodwill	$9.6B
Interest coverage	2.65
Net cash (debt)	$-18.2B
Net cash / market cap	-26.96%
Net debt / EBITDA	5.66
Net debt / equity	0.61
Piotroski F-Score	5
Property, plant and equipment	$33.8B
Shareholders' equity	$29.5B
Tangible book value	$14.8B
Tangible book value per share	$40.10
Total assets	$54.5B
Total cash	$1.9B
Total debt	$20.1B
Total liabilities	$25B
WACC	8.05%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.13
Current ratio	0.89
Net working capital	$-1.4B
Quick ratio	0.89
Working capital	$-528.6M

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-3.47%
Dividend growth	0%
Dividend growth (10Y)	3.41%
Dividend growth (3Y)	0%
Dividend growth (5Y)	1.19%
Dividend growth years	0
Dividend payment date	2026-09-30
Dividend payment years	23
Dividend payout frequency	Quarterly
Dividend per share	$4.88
Dividend yield	2.72%
Ex-dividend date	2026-09-15
Last dividend	$1.22
Payout ratio	234.84%
Shareholder yield	-0.73%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	95.21%
10Y return CAGR	10.62%
10Y total return	174.36%
150-day SMA	$186.61
15Y price change	184.99%
15Y return CAGR	11.49%
15Y total return	410.86%
1D price change	0.53%
1M price change	0.57%
1M total return	0.57%
1W price change	2.46%
1W total return	2.46%
1Y price change	0.84%
1Y return CAGR	3.73%
1Y total return	3.72%
20-day SMA	$176.84
200-day SMA	$183.10
20Y price change	440.08%
20Y return CAGR	13.04%
20Y total return	1,060.16%
3M price change	-8.24%
3M total return	-7.61%
3Y price change	46.82%
3Y return CAGR	17.13%
3Y total return	60.72%
50-day SMA	$181.91
50-day SMA vs 200-day SMA	50under200
52-week high	$208.14
52-week high date	2026-04-24
52-week low	$146.23
52-week low date	2025-12-18
5Y price change	14.49%
5Y return CAGR	6.3%
5Y total return	35.71%
6M price change	-8.51%
6M total return	-7.27%
All-time high	$208.14
All-time high date	2026-04-24
All-time low	$12.00
All-time low date	2004-10-29
Average true range (ATR)	$4.57
Average volume	1.9M
Beta (1Y)	0.44
Beta (2Y)	0.68
Beta (5Y)	1.01
Change from 52-week high	-13.54%
Change from 52-week low	23.07%
Change from all-time high	-13.7%
Change from all-time low	1,396.92%
Change from open	0.62%
Day's gap	-0.09%
Dollar volume	$410.4M
High price	$180.33
Low price	$178.21
Monthly RSI	54.13
Open price	$178.85
Position in 52-week range	82.55%
Premarket change	0.45%
Premarket close	$179.01
Premarket price	$179.82
Previous close	$179.01
Price vs 150-day SMA	-3.74%
Price vs 20-day SMA	1.58%
Price vs 200-day SMA	-1.9%
Price vs 50-day SMA	-1.25%
Relative volume	1.19
RSI	52.5
Sharpe ratio	0.12
Sharpe ratio (3Y)	0.62
Sharpe ratio (5Y)	0.23
Sortino ratio	0.4
Sortino ratio (3Y)	1.13
Sortino ratio (5Y)	0.54
Volume	2.3M
Weekly RSI	47.84
YTD price change	16.11%
YTD total return	18.48%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	351.3M
Float percentage	93.02%
Shares change (QoQ)	2.35%
Shares change (YoY)	3.47%
Shares held by insiders	0.01%
Shares held by institutions	98.48%
Shares outstanding	377.7M
Short % of float	2.56%
Short % of shares	2.38%
Short ratio	4.3 days

Deeper analysis on DLR

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this DLR report

What is the latest published DLR stock rating?

Digital Realty Trust, Inc. is shown with Sell in the latest published report, analyzed 2026-09-27. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full DLR analysis?

The full latest published report, analyzed 2026-09-27, lives at /stocks/DLR/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for DLR?

The latest published report analyzed 2026-09-27 gives DLR a fair value of USD 135 and a potential value of USD 168. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the DLR page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-27). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellDLR · Fair value $135-24.6%

Read full analysis →

Digital Realty Trust, Inc. (DLR)

Our latest published analysis: DLR rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · DLR

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All DLR indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on DLR

Frequently asked questions

Historique des notations

Category	Score	Reading
Valuation	1.5
Management	6.5
Balance Sheet	4.0
Profitability	4.0
Revenue Growth	7.5
Risk Assessment	5.0
Competitive Moat	7.0
Earnings Quality	6.0
Capital Efficiency	2.5