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UPDATED: Nov 12, 2025

Stock Analysis

DLR Logo
$168.57
-$0.64 |-0.38%
Day Range:
$166.54 - $170.00
Market Cap:
58.06B
P/E Ratio:
43.6710
Avg Value:
$163.98
Year Range:
$129.95 - $198.00
1
General Information
Digital Realty owns and operates over 300 data centers worldwide. It has nearly 40 million rentable square feet across five continents.

Digital's offerings range from retail co-location, where an enterprise may rent a single cabinet and rely on Digital to provide all the accommodations, to "cold shells," where hyperscale cloud service providers can simply rent much, or all, of a barren, power-connected building. In recent years, Digital Realty has deemphasized cold shells and now primarily provides higher-level service to tenants that outsource their related IT needs to Digital. The company operates as a real estate investment trust.

2
Digital Realty Trust (DLR) Stock Graph
3
How We Grade Digital Realty Trust (DLR)

We grade stocks based on past performance, their future growth potential, intrinsic value, dividend history, and overall financial health.

The chart below shows how we grade Digital Realty Trust (DLR) across the board compared to its closest peers.

4
Benzinga Edge Rankings

Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell.

84.26

Growth measures a stock's combined historical expansion in earnings and revenue across multiple time periods, with emphasis on both long-term trends and recent performance.

17.29

Value is a percentile-ranked composite metric that evaluates a stock's relative worth by comparing its market price to fundamental measures of the company's assets, earnings, sales, and operating performance.

Momentum measures a stock's relative strength based on its price movement patterns and volatility over multiple timeframes, ranked as a percentile against other stocks.

48.99

Quality is a composite ranking that evaluates a company's operational efficiency and financial health by analyzing historical profitability metrics and fundamental strength indicators on a percentile basis relative to peers.

Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
5
Peer Ratings

See how Digital Realty Trust compares to its peers in these key performance metrics from Benzinga Rankings.

Top Peers
Value
Quality
Growth
Momentum
Short
Medium
Long
EQIXEquinix
15.37
27.62
69.93
25.74
FRMIFermi
0
0
0
0
DLRpLDigital Realty Trust
0
0
84.26
39.1
DLRpJDigital Realty Trust
0
0
84.26
39.1
Short: price trend over the last couple of months
Medium: price trend over the last couple of quarters
Long: price trend over the past year
Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
6
Future Growth
Our estimate of future price growth is based on an aggregation of 6 analyst ratings over the past 3 months and their 12-month price targets.

Below, you can see that analysts are estimating a 12-month price target range of $141.00 - $212.00 with an average of $186.50

10.34%
Expected movement for Digital Realty Trust (DLR) over the next 12 months
Based on these rankings

Recent Ratings for Digital Realty Trust (DLR)

Truist Securities
Date:
Nov 5, 2025
Action:
Maintains
Prev. Target:
$199.00
New Target:
$200.00
Citigroup
Date:
Oct 29, 2025
Action:
Maintains
Prev. Target:
$200.00
New Target:
$212.00
Barclays
Date:
Oct 27, 2025
Action:
Maintains
Prev. Target:
$141.00
New Target:
$161.00
TD Cowen
Date:
Oct 24, 2025
Action:
Maintains
Prev. Target:
$163.00
New Target:
$179.00
JP Morgan
Date:
Oct 24, 2025
Action:
Maintains
Prev. Target:
$200.00
New Target:
$210.00
Barclays
Date:
Aug 20, 2025
Action:
Maintains
Prev. Target:
$140.00
New Target:
$141.00
7
Valuation

Earnings History (3 years)

It is important to look at a companies earnings history to see not only if they are profitable, but if their earnings are growing.
As you can see from the chart above, DLR's earnings have fluctuated but has increased since, this is a positive sign for the stock.
8
Financial Health
What is the current state of the company's financial situation?

We measure the health of a company based on how profitable they are and their ability to cover both their short-term and long-term debts. The key indicators that we use are the Operating Margin, Quick Ratio, and Debt-to-Equity ratio relative to the companies peers

Operational Margin 0.1426

The operating margin measures how much profit a company makes after it spends money on wages, materials or other administrative expenses but before interest and taxes. It is a good representation of how efficiently a company is able to generate profit from its core operations.

Quick Ratio 1.1339

The quick ratio measures how much of a company's debt, that is due in less than 1 year, can be covered using its cash equivalents, marketable securities, and money that is currently owed to them (accounts receivables).

A company with a quick ratio of less than 1.00 does not, in many cases, have the capital on hand to meet its short-term obligations if they were all due at once, while a quick ratio greater than one indicates the company has the financial resources to remain solvent in the short term.

Debt-to-Equity 1.0310

Debt-to-equity is calculated by dividing a company's total liabilities by its shareholders equity. It is a measure of the degree to which a company is financing its operations through debt versus wholly owned funds. Generally speaking, a D/E ratio below 1.0 would be seen as relatively safe, whereas ratios of 2.0 or higher would be considered risky.

The chart above shows Digital Realty Trust (DLR) operating margin, quick ratio, and debt-to-equity ratio compared to its peers. The black markers represent the peer averages for each ratio and the blue bars represent Digital Realty Trust (DLR) ratio values.
9
Dividend
There are few things we like to see when evaluating the quality of a company's dividend history and future

Ideally, we would like to see a company have a long history of consistently high dividend payouts that have grown at a consistent rate. From here we want to be confident that this sort of dividend growth and consistency will persist into the future.

The chart below shows the historical trend in Digital Realty Trust (DLR) dividend yield on an annual basis.

-7.14%
Digital Realty Trust (DLR) saw a decrease in it's dividend yield since 2021
10
Past Performance
How has Digital Realty Trust (DLR) performed over the past 5 years?

The two main factors that we consider when analyzing past performance is overall return and volatility

Using these two metrics, we can determine if this stock gave its investors enough return for the risk that they took on by owning it. This is measured by the sharpe ratio, which has been used as a primary measure of risk/reward trade-off for almost 60 years.

This ratio can be interpreted as the amount of return an investor has received for the amount of risk that they took on by owning the stock over that timeframe.

Digital Realty Trust (DLR) sharpe ratio over the past 5 years is 0.2444 which is considered to be above average compared to the peer average of -1.1302

11
Analyzing Digital Realty Trust (DLR) Recent Options Activity
Below, you can see the trend in options sentiment over the past 30 days.

Based on our data, DLR's options trades have recently carried more negative sentiment than positive.

12
Company Financials
INCOME STATEMENT
The income statement also known as the profit and loss statement, primarily focuses on the company's revenues and expenses during a particular period.

The main purpose of an income statement is to convey details of profitability and business activities. Below, is DLR's income statement for the previous four years along with its trailing-twelve- month profit & loss.

FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Total Revenue
4.43
4.69
5.48
5.55
5.91
Operating Revenue
4.43
4.69
5.48
5.55
5.91
Cost Of Revenue
1.78
2.02
2.60
2.52
2.64
Gross Profit
2.65
2.67
2.88
3.04
3.27
Operating Expense
1.89
2.01
2.15
2.28
2.40
Selling General And Administration
0.40
0.42
0.45
0.48
0.53
Research and Development
0.00
0.00
0.00
0.00
0.00
Operating Income
0.76
0.66
0.73
0.76
0.87
Net Non-Operating Interest Income Expense
-0.30
-0.30
-0.44
-0.45
-0.43
Other Income Expense
1.36
0.05
0.74
0.34
1.00
Other Non-Operating Income Expenses
0.00
0.00
0.07
0.15
0.16
Pre-Tax Income
1.82
0.41
1.03
0.64
1.45
Tax Provision
0.07
0.03
0.08
0.05
0.05
Net Income
1.71
0.38
0.95
0.60
1.40
Net Income Common Stockholders
1.68
0.34
0.91
0.56
1.36
Total Operating Income As Reported
0.69
0.59
0.52
0.47
0.69
Total Expenses
3.67
4.03
4.75
4.80
5.04
Net Income From Continuing And Discontinued Operation
1.71
0.38
0.95
0.60
1.40
Normalized Income
0.42
0.32
0.26
0.31
0.49
Interest Income
0.00
0.00
0.00
0.00
0.00
Interest Expense
0.30
0.30
0.44
0.45
0.43
Net Interest Income
-0.30
-0.30
-0.44
-0.45
-0.43
EBIT
2.12
0.71
1.46
1.10
1.88
EBITDA
3.61
2.29
3.16
2.87
3.73
Reconciled Cost Of Revenue
1.78
2.02
2.60
2.52
2.64
Reconciled Depreciation
1.49
1.58
1.69
1.77
1.86
Normalized EBITDA
2.31
2.24
2.46
2.56
2.82
Tax Rate For Calcs
0.00
0.00
0.00
0.00
0.16
Tax Effect Of Unusual Items
0.01
0.00
0.01
0.01
0.00
BALANCE SHEET
The balance sheet is a snapshot of a companies financials during a particular period in time.

It breaks down what company owns (assets) and what a company owes (liabilities), in order to give investors an overview of its capital structure.

FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Total Assets
36.37
41.48
44.11
45.28
48.73
Current Assets
0.81
1.11
3.38
5.13
4.91
Total Non-Current Assets
35.56
40.37
40.73
40.16
43.59
Total Liabilities Net Minority Interest
17.85
21.86
23.12
22.11
23.74
Current Liabilities
2.62
4.75
4.81
4.63
4.23
Other Non-Current Liabilities
0.34
0.37
0.40
0.54
0.00
Total Equity Gross Minority Interest
18.52
19.62
21.00
23.18
24.99
Stockholders Equity
0.00
0.00
0.00
0.00
0.00
Total Capitalization
31.05
32.03
34.73
36.44
40.10
Common Stock Equity
17.27
16.85
18.39
20.61
22.29
Net Tangible Assets
7.33
5.28
7.38
10.23
11.52
Working Capital
-1.80
-3.64
-1.43
0.50
0.68
Invested Capital
30.72
33.45
35.81
37.32
40.52
Tangible Book Value
6.60
4.55
6.65
9.50
10.79
Total Debt
14.96
18.07
18.97
18.01
19.51
Net Debt
13.31
16.46
15.80
12.84
14.93
Share Issued
0.28
0.29
0.31
0.34
0.34
Ordinary Shares Number
0.28
0.29
0.31
0.34
0.34
CASH FLOW STATEMENTS
A companies statement of cash flows gives an investor a break down of the cash inflows and outflows from a companies operations and investment activities.
FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Cash Flow from Continuing Operating Activities
1.70
1.66
1.63
2.26
2.46
Net Income from Continuing Operations
1.75
0.38
0.95
0.59
1.40
Depreciation and Amortization
1.49
1.58
1.69
1.77
1.86
Deferred Tax
Deferred Income Tax
Stock-Based Compensation
0.08
0.09
0.08
0.08
0.08
Other Non-Cash Items
0.05
-0.09
-0.03
-0.08
Change in Working Capital
-0.31
-0.23
-0.38
0.02
0.08
Change in Receivables
-0.43
-0.27
-0.16
-0.34
-0.33
Changes in Account Receivables
-0.43
-0.27
-0.16
-0.34
-0.33
Change in Inventory
Change in Payables and Accrued Expense
0.12
0.04
-0.22
0.37
0.42
Change in Payable
0.12
0.04
-0.22
0.37
0.42
Change in Account Payable
0.12
0.04
-0.22
0.37
0.42
Change in Other Current Assets
Change in Other Current Liabilities
Change in Other Working Capital
Cash Flow from Continuing Investing Activities
-1.06
-4.70
-1.12
-1.91
-1.98
Net PPE Purchase and Sale
Net Business Purchase and Sale
-0.19
-2.23
-0.15
-0.72
-0.73
Purchase of Business
-0.19
-0.39
-0.82
-0.89
Net Investment Purchase and Sale
Purchase of Investment
Sale of Investment
Net Other Investing Changes
-0.04
-0.10
-0.06
1.65
1.66
Financing Cash Flow
-0.59
2.97
0.96
2.06
0.90
Cash Flow from Continuing Financing Activities
-0.59
2.97
0.96
2.06
0.90
Net Issuance Payments of Debt
0.73
3.39
0.33
0.04
0.74
Net Long-Term Debt Issuance
0.82
1.70
0.76
0.04
0.74
Long-Term Debt Issuance
1.82
2.79
0.87
3.87
4.97
Long-Term Debt Payments
-1.01
-1.09
-0.11
-3.83
-4.23
Net Short-Term Debt Issuance
-0.09
1.69
Net Common Stock Issuance
3.65
1.95
Common Stock Issuance
3.65
1.95
Common Stock Payments
Cash Dividends Paid
-1.38
-1.45
-1.52
-1.63
-1.73
Net Other Financing Charges
0.09
0.10
-0.06
0.01
-0.05
End Cash Position
0.64
0.61
2.99
9.55
13.07
Changes in Cash
0.05
-0.07
1.48
2.42
1.38
Beginning Cash Position
0.61
0.61
1.50
7.30
11.95
Capital Expenditure
Issuance of Capital Stock
3.65
1.95
Issuance of Debt
1.82
2.79
3.74
3.87
4.97
Repayment of Debt
-1.01
-1.09
-3.41
-3.83
-4.23
Repurchase of Capital Stock
Free Cash Flow
1.70
1.66
1.63
2.26
2.46