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DIGITAL REALTY TRUST, INC.DLR

Sector
Financial Services
Industry
Real Estate Investment Trusts
Exchange
NYSE

Stock Price $DLR

Latest filings

You are here#6 of 14 in Real Estate by market cap

Filing record · 2016–202610-K1310-Q328-K240

DLR filed 13 annual reports (10-K), 32 quarterly reports (10-Q) and 240 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Sep ’17Sep ’17
  2. Deal closed8-K · Mar ’20Mar ’20
  3. Leadership change8-K · Mar ’22Mar ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $6.11B
YoY changeLargest recent move+23.9%in FY18Latest +10.0%

1 older move runs past ±25% (largest +35.8%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All DLR Financial Metrics43 metrics

Income Statement13

Balance Sheet15

Cash Flow11

Per Share4

02—Overview

DIGITAL REALTY TRUST, INC. Financial Overview 2021–2025

Updated Jul 10, 2026

Digital Realty Trust concluded FY2025 with an aggressive infrastructure pipeline where 64%a of its underway data center construction was already pre-leased, signaling intense demand for its global capacity. This visibility into future cash flow underscores a clear investment thesis: the company is effectively leveraging strategic joint ventures and active capital recycling to fund massive hyperscale expansion without overleveraging its balance sheet.

The sheer scale of this growth is evident across its multi-year performance, as total operating revenues expanded from $4.43 billion in FY2021 to $6.11 billionb in FY2025. Top-line momentum is accelerating, with revenue jumping 10.0% in FY2025 and surging another 16.2% year-over-year to $1.64 billion by Q1 2026. To support this digital build-out, Digital Realty secured massive external funding, highlighted by raising over $3 billion in equity commitments for its U.S. Hyperscale Data Center Fund during FY2025. Despite navigating higher utility costs and increased interest expenses, the company maintained an 84.7% occupancy rate across its 310 data centers at the end of FY2025.

Investors have rewarded this asset-heavy growth strategy with a premium valuation. At the close of FY2025, the market capitalized Digital Realty at $53.2 billionc, with the stock finishing the year at $154.71. This left shares trading at a lofty 43.2x price-to-earnings multiple on $3.58 in earnings per share, reflecting strong market conviction in the underlying value of its expanding global infrastructure network.

Recent Developments (Q4 2025 and Q1 2026)

Digital Realty accelerated its global expansion in early 2026, highlighted by a massive agreement to buy out Blackstone's 64% interest in Northern Virginia hyperscale joint ventures for $1.231 billiond in cash and $2.346 billion in stock. The company simultaneously bolstered its African presence by increasing its Teraco ownership to 77% and secured 1,440 acres near Kansas City for $377.6 million.

Operationally, Q1 2026 momentum was robust. Net cash from operations jumped 33.4% year-over-year to $532.4 millione, while net income surged 69.2% to $169.1 million. To fund this expansion, management established a new $7.5 billion at-the-market equity program. Bulls argue that capturing fully leased capacity with 3.6% annual rent escalators secures highly visible, long-term earnings growth. Conversely, bears warn that relentless stock issuances dilute existing equity, creating elevated risk while the stock trades at a steep 56.1x trailing earnings as of May 1, 2026.

What to watch: stabilization progress for the newly acquired Northern Virginia assets; execution of the $7.5 billion equity offering.

03—Filings

Recent SEC Filings

  1. 8-KDIGITAL REALTY TRUST, INC. 8-K Report, Material Agreement (Oct 9, 2026)Digital Realty Trust, Inc. (DLR) announced on October 9, 2026, through its wholly owned indirect finance subsidiary, Digital Euro Finco, LLC, the issuance and sale of €1,000,000,000 aggregate principal amount of 5.125% Guaranteed Notes due 2036. These Euro Notes are senior unsecured obligations, fully guaranteed by DLR and its operating partnership. The offering was conducted outside the United States under Regulation S, indicating it was not registered with the SEC and is not intended for U.S. persons unless an exemption applies. The company intends to allocate the net proceeds, approximately €985.8 million after expenses, towards financing or refinancing eligible green projects. These include initiatives related to renewable energy, energy efficiency, pollution prevention, biodiversity, clean transportation, sustainable water management, climate adaptation, and green buildings. Pending allocation to green projects, the proceeds may be temporarily used for repaying revolving credit facilities, acquisitions, funding development, or for general corporate purposes, including other debt repayment. The issuance introduces new long-term Euro-denominated debt and aligns with DLR's sustainability financing strategy.
  2. 8-KDIGITAL REALTY TRUST, INC. 8-K Report, Material Agreement (Oct 6, 2026)Digital Realty Trust (DLR), through its finance subsidiary Digital Constellation B.V., closed a CHF510 million (about US$ equivalent not stated in the filing) issuance of three Swiss franc-denominated senior unsecured guaranteed notes on October 6, 2026. The tranches are CHF225 million of 1.6803% notes due 2029, CHF185 million of 2.0600% notes due 2032, and CHF100 million of 2.4150% notes due 2036. Net proceeds were approximately CHF508.39 million after managers' commissions and offering expenses. The notes are fully guaranteed by Digital Realty Trust, Inc., the operating partnership, and Digital Intrepid Holding B.V., the holding entity through which the Interxion business is held. For investors, the deal diversifies funding into the Swiss franc market at relatively low coupons, extending the debt maturity profile to 2029-2036. The press release describes the proceeds as intended to fund projects consistent with the company's Green Bond Framework, while the 8-K allows broader general corporate uses, including temporarily repaying revolving credit facility borrowings. The notes carry customary covenants, including limits on additional indebtedness and a requirement to maintain a pool of unencumbered assets, along with cross-default and cross-acceleration provisions with a $125 million threshold. The filing does not disclose the USD equivalent of the offering, the all-in cost after hedging, or the effect on leverage. Investors should note that the notes were sold only outside the United States under Regulation S and are not registered under the Securities Act. Because the notes are denominated in francs, currency exposure should be evaluated against the company's reporting currency and any hedging arrangements.
  3. 8-KDIGITAL REALTY TRUST, INC. 8-K Report, Regulation FD Disclosure (Oct 6, 2026)Digital Realty Trust (DLR) disclosed in an 8-K filed October 6, 2026 that its wholly owned indirect finance subsidiary, Digital Euro Finco, LLC, priced a €1 billion offering of 5.125% Guaranteed Notes due October 9, 2036, at 99.289% of principal. The notes are senior unsecured obligations of Digital Euro Finco, LLC, fully and unconditionally guaranteed by Digital Realty Trust, Inc. and the operating partnership, and were sold only outside the United States under Regulation S. Settlement is expected October 9, 2026, subject to customary closing conditions. The offering adds roughly €1 billion of long-dated, fixed-rate, euro-denominated debt to the company's capital structure, diversifying funding beyond U.S. dollar markets. The issue price of 99.289% implies a yield modestly above the 5.125% coupon, and annual cash interest will be approximately €51.25 million on the full principal. The company intends to allocate net proceeds to Eligible Green Projects consistent with its Green Bond Framework, which signals a continued sustainability-linked financing strategy for its data center development pipeline. Pending allocation, proceeds may temporarily repay revolving credit facility borrowings, fund acquisitions or development, or support general corporate purposes, including potential debt or equity retirement. The filing is a routine financing disclosure with no reported change to guidance, earnings, or covenants, so its significance rests mainly on refinancing flexibility and the cost of euro-denominated capital.
  4. 8-KDIGITAL REALTY TRUST, INC. 8-K Report, Corporate Update (Oct 6, 2026)Digital Realty Trust, Inc. (DLR) has announced the commencement of an offering of Euro-denominated Guaranteed Notes (Euro Notes) by its subsidiary, Digital Euro Finco, LLC. This offering, made outside the United States under Regulation S, will be senior unsecured obligations fully guaranteed by DLR and its operating partnership. The company intends to use the net proceeds from the Euro Notes offering to finance or refinance "Eligible Green Projects," which include a range of initiatives focused on renewable energy, energy efficiency, and sustainable environmental practices. Pending allocation to these projects, proceeds may be temporarily used for debt repayment, acquisitions, development, working capital, or general corporate purposes. In addition to the Euro Notes, the filing also details recent financing activity, specifically the pricing on September 28, 2026, of an offering of Swiss Franc Notes by subsidiary Digital Constellation B.V. These notes, in various maturities and interest rates, are also guaranteed by DLR and its affiliates and were offered outside the United States. The net proceeds from the Swiss Franc Notes are expected to be used for similar purposes, including repaying revolving credit facilities, acquisitions, development, and general corporate needs. Investors should note the cautionary statement regarding forward-looking statements, as the consummation and outcomes of these offerings are subject to market conditions and other risks.
  5. 8-KDIGITAL REALTY TRUST, INC. 8-K Report, Corporate Update (Aug 19, 2026)Digital Realty Trust, Inc. (DLR) has filed an 8-K report detailing events related to its recent acquisition of Columbia Capital. The primary focus of this filing is the registration of certain shares of common stock issued as part of the acquisition consideration. These shares are being registered for resale via a prospectus supplement being filed concurrently with the SEC. This action is a standard procedural step to enable the resale of shares received in an acquisition.
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04—See also

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