DLR
Digital Realty Trust, Inc.150.28
-2.61-1.71%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Hyperscalers eye 2027-28 capacity.
Q&A reinforced Digital Realty's blockbuster bookings and 8% FFO growth guidance, but added hyperscalers now scouting 2027-28 capacity across diverse customers in NoVA, Charlotte, and Europe. Enterprise zero-1MW hit records through share gains, densification, and emerging 5MW AI/inference blocks. Labor tightens, yet secured; escalators pushed to 3-4% or CPI-linked. No public-private valuation gap after asset mix adjustment. Demand globalizes. Execution trumps.
Key Stats
Market Cap
52.55BP/E (TTM)
38.93Basic EPS (TTM)
3.86Dividend Yield
0.03%Recent Filings
8-K
New shelf registration filed
Digital Realty filed a new S-3ASR shelf registration on February 17, 2026, replacing its expiring prior statement and terminating it upon effectiveness. This renews capacity under the December 2024 ATM Sales Agreement, where $1.11B in common stock gross proceeds were already raised, leaving $1.89B available for future sales via multiple agents. Routine shelf refresh. Forward sales remain an option.
10-K
FY2025 results
Digital Realty Trust's FY2025 10-K reveals a portfolio of 310 data centers spanning 57.6 million rentable square feet, 84.7% leased as of December 31, 2025—up from 84.1% in 2024—bolstered by 769 MW underway, 64% pre-leased. Revenues climbed 10% to $6.1B, driven by stabilized portfolio growth (6.1%) and non-stabilized ramp-up (16.6%), yet property expenses rose 8.2% on utilities and labor. Q4 momentum shone through $1.4B Fund contributions yielding $903M gains, while impairments fell 59% to $79M on non-core assets. Debt stands at $18.6B (92% fixed, 2.9% effective rate), with $3.3B revolver capacity. No 2026 guidance disclosed. Supply chain disruptions threaten quarterly leasing velocity.
8-K
Q4 Core FFO $1.86, record bookings
Digital Realty reported Q4 2025 results on February 5, 2026, with revenues up 14% YoY to $1.6B, Core FFO per share at $1.86 (up from $1.73), and record $400M bookings at 100% share—including $96M from 0-1MW plus interconnection. Backlog hit $817M at DLR share, occupancy slipped to 84.7%, yet leasing drove 6.1% cash renewal spreads. 2026 Core FFO guidance: $7.90-$8.00 per share.
8-K
Bolze joins DLR board
Digital Realty Trust elected Stephen R. Bolze, Blackstone infrastructure veteran and ex-GE Power & Water CEO, as independent director effective January 1, 2026, joining the Audit Committee. He gets a prorated $230,000 equity award and $95,000 cash retainer under the 2014 Plan. Bolze brings 30+ years in infrastructure operations. No related arrangements disclosed.
8-K
Redeems €1,075M notes early
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