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Digital Realty Trust, Inc. — Intrinsic Value & Fair Price

DLR
NYSEReal EstateREIT - SpecialtyCIK 0001297996digitalrealty.comAbout DLR
Last close · Oct 16, 2026175.97+1.50 (+0.86%)
Market cap$65.3B
Model value · P/Cash FFO · own history
164.91
Digital Realty closed at $175.97 — overvalued by 7% vs model.
146.66the model's range187.75

P/Cash FFO · own history leads for a REIT. From its own five-year median price to Cash FFO.

Other models
21.97 – 178.43
Wall St. target
227.00 22% below
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
2.77%
Past 2 years
low 2.39%high 3.59%
Dividends per share, a year at a time
$4.60Sep ’21$4.82Sep ’22$4.88Sep ’23$4.88Sep ’24$4.88Sep ’25$4.88TTM
Dividends / FFO, FY2025
54.0%
Raised
—
Growth, 5 yrs
1.2% a year
Last change
+5.2% · Mar 2022
Every payment, with ex-dates · latest $1.22, paid Sep 30, 2026

Research on DLR

No posts on DLR yet.
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How it is valued

Valued asREIT
Low/slowing growth (~6% recent)High profitability (21% net margin)Pays dividendsHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for REITs
Price / Cash FFO
—
Dividend yield, TTM
2.77%
Dividends / Cash FFO
—
Debt / assets
48.9%
Price / book
2.4×
Revenue growth
10.0%
Full financials

Analyst actions

third-party, quoted
09-21Redburn Partners · target227.00
09-10BTIG · target220.00
08-18Evercore ISI · target240.00
08-14HSBC · “Buy” from “Hold”upgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label
3 more companies list DLR as a comparable
Side by side:vs EQIX

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just DLR. No account.

About Digital Realty

Digital Realty Trust, Inc. owns, acquires, develops, and operates data centers through its operating partnership subsidiary, Digital Realty Trust, L.P. The company is focused on providing data center, colocation, and interconnection solutions for domestic and international customers across a variety of industry verticals ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products. As of March 31, 2026, the company's 309 data centers, including 89 data centers held as investments in unconsolidated entities, contain applications and operations critical to the day-to-day operations of technology industry and corporate enterprise data center customers. Digital Realty's portfolio is comprised of approximately 3.0 gigawatts of IT capacity, as well as approximately 6.3 gigawatts of buildable IT capacity under active development and held for future development, located throughout North America, Europe, South America, Asia, Australia, and Africa. Digital Realty Trust, Inc. was established and incorporated on March 09, 2004 in Maryland and is based in Austin, Texas.

CEO
Andrew Power
Headquarters
Austin, TX
Employees
4,282
IPO
2004-10-29
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.