Digital Realty (DLR)
Leases global data-center capacity from colocation cabinets to hyperscale campuses.
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Leases data-center space, power, and interconnection services to cloud providers and enterprises across a global portfolio. Revenue comes mainly from operating leases, while hyperscale development uses both owned capital and joint ventures and depends on access to power and external financing.
Owns, develops, and operates data centers that lease secure space and electrical capacity to cloud platforms, network providers, and enterprises. PlatformDIGITAL covers colocation deployments, larger hyperscale capacity, and interconnection services such as cross-connects and ServiceFabric, connecting customers across facilities and cloud environments. The portfolio extends across North America, Europe, Latin America, Africa, Asia, and Australia.
Scale and network density support deployments ranging from cabinets to multi-megawatt campuses, while joint ventures and private-capital vehicles share some hyperscale development costs. Rental and other service revenue comes primarily from operating leases and connectivity offerings. REIT distribution requirements limit retained earnings, while expansion depends on outside capital, available utility power, construction capacity, permits, and customers’ continued demand for data-center capacity.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Redburn Partners | Target | Target: — | Target: $227 |
| Sep 10, 2026 | BTIG | Reiterate | Rating: —Target: $215 | Target: $220 |
| Aug 18, 2026 | Evercore ISI | Reiterate | Rating: —Target: $160 | Target: $240 |
| Aug 14, 2026 | HSBC | Upgrade | ||
| Aug 13, 2026 | HSBC | Upgrade | Target: $210 | Target: $240 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.86B · Total debt $18.25B · Total assets $54.52B · Shareholders' equity $27.43B
- Revenue
- $1.92B
- Operating income
- $498.0M
- Net income
- $453.3M
HistoryDividendAnnual yield
| Institutions | ≈ 102.72% | 380.09M shares | |
|---|---|---|---|
| 1,362 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.01% | 32.3K shares | |
| 4 holders · as of Aug 31, 2026 | |||
| Strategic holders | 4.30% | 15.92M shares | |
| 1 holder · as of Jan 3, 2024 | |||
| Adds to | 107.03% | ||
370.04M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 107.03%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 10.95% | 40.52M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.15% | 30.16M | as of Jun 30, 2026 |
Cohen & Steers, Inc.Institution | 7.90% | 29.23M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.02% | 22.29M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.63% | 20.84M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | Mark R. Patterson | director | −200 | $193.96 |
| Dec 1, 2025 | Mary Hogan Preusse | director | −4,166 | $157.42 |
- Equinix
Global carrier-neutral interconnection leader competing in colocation and cross-connect.
- Iron Mountain
Rapidly growing data center REIT competing for enterprise colocation via existing customer relationships.
- GDS (ADR)
China's largest carrier-neutral data center operator serving the same cloud hyperscalers as DLR.
- Nextpower
Australia's dominant hyperscale and colo operator competing for the same cloud tenants in APAC.
- American Tower
Tower REIT with US colocation business via CoreSite competing for enterprise and cloud colo.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Digital Realty | $185.90 | −0.23% | $68.94B | 90.0 | 79.5 | 10.1 | +28.9% |
| Equinix | $1,055.13 | −0.20% | $104.32B | 68.1 | 60.7 | 10.6 | +16.4% |
| Iron Mountain | $117.05 | +0.14% | $34.78B | 83.5 | 45.9 | 4.6 | +18.5% |
| GDS (ADR) | $33.61 | −1.88% | $6.68B | 16.7 | 113.9 | 3.6 | +12.3% |
| Nextpower | $82.81 | −0.41% | $12.61B | 21.5 | 17.3 | 3.5 | +8.2% |
| American Tower | $173.86 | −0.42% | $81.36B | 24.0 | 25.7 | 7.4 | +4.7% |
| Median | 24.0 | 45.9 | 4.6 | +12.3% |