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Digital Realty Trust, Inc. (DLR) Presents at Nareit REITweek: 2026 Investor Conference Transcript

On June 03, 2026, we present a DCF analysis for Digital Realty Trust Inc (DLR), a company that has seen varied price performance recently. The stock has experie

Digital Realty's cloud and AI-fueled demand, record bookings and $1.8B backlog boost growth prospects as it expands capacity worldwide.

The smartest technology analyst you've probably never heard of just published a presentation that reframes the entire AI investment thesis — and if you're still thinking about this as a software story, you're already behind.

Smart money is piling into data centers and senior housing. One top activist REIT investor is making contrarian bets. INVH and NHI could be overlooked beneficiaries.

Investor interest in the AI space continues to grow, with many focusing on AI infrastructure plays to meet the increasing demand for data centers or on semiconductor stocks building the components necessary for AI platforms to function. One potentially overlooked area that is vital to AI but not directly related to the technology itself is land.

The First Trust S&P REIT Index Fund (NYSEARCA:FRI) gives investors exposure to American commercial real estate cash flow without picking between malls, warehouses, and senior living towers.

Let me take you back to April 2001 for a second. Because that year brought a key turning point for income investors.

Thirty-three US REITs utilized their at-the-market (ATM) offering programs during the recent quarter, raising $4.15 billion in aggregate proceeds. Healthcare REIT Welltower Inc. raised the most capital during the first quarter, selling nearly 7.7 million shares of common stock through its ATM program for $1.56 billion in gross proceeds. In the aggregate, healthcare REITs raised $2.67 billion through their ATM programs during the first quarter, the most of any property sector. The data center REIT sector was next with $875.0 million.

Achieves 93% Global Renewable Energy Coverage in 2025, up 18% Over Prior Year Achieves 93% Global Renewable Energy Coverage in 2025, up 18% Over Prior Year

LONDON & AUSTIN, Texas--(BUSINESS WIRE)-- #AI--ORCA Computing a leading quantum computing company, announced today its participation in the newly launched Digital Realty Innovation Lab (DRIL) in London, a next-generation infrastructure testing environment developed by Digital Realty, the world's largest cloud-and carrier-neutral data center provider. The DRIL enables customers to test emerging AI and quantum technologies in live operational conditions before full-scale deployment, helping reduce risk.

Digital Realty opens its first Barcelona data center, BCN1, boosting Mediterranean connectivity and supporting AI and cloud infrastructure growth.

LONDON & NEW YORK & HONG KONG--(BUSINESS WIRE)--Options Technology, the leading managed IT services and technology solutions provider, today announced it has been named Digital Realty's Partner of the Year for EMEA for 2025. The award, presented as part of Digital Realty's annual Partner Awards program, recognizes channel and alliance partners who drive the most meaningful impact for Digital Realty and its customers. The recognition reflects the significant expertise that Options' team and tech.

Data center REITs have delivered sector-leading, consistent outperformance, driven by secular tailwinds like AI, cloud computing, and digital transformation. DLR, EQIX, and IRM are trading at premium valuations, reflecting strong fundamentals, but current multiples suggest waiting for a pullback before adding exposure. American Tower is the top pick for new data center exposure, offering integrated connectivity and compute, trading at a discount with a 4% yield and significant upside potential.

REITs may be emerging from a brutal multi-year downturn. Falling supply and stabilizing rates could drive recovery. Valuations and buyouts signal strong upside ahead.

The Real Estate Select Sector SPDR Fund (NYSEARCA:XLRE | XLRE Price Prediction) trades around $45 with roughly $7.71 billion in assets and a trailing distribution yield of 3.4%.

One aspect of the AI industry is ideally suited to generate recurring income and reliable dividend payments. Also, one particular corporate structure is ideally suited to ensure shareholders get the most of this income.

AUSTIN, Texas, May 12, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world's largest cloud- and carrier-neutral data center platform, announced today its board of directors has authorized quarterly cash dividends for common and preferred stock for the second quarter of 2026. Common Stock Digital Realty's board of directors authorized a cash dividend of $1.22 per share to common stockholders of record as of the close of business on June 15, 2026.

Artificial intelligence has already reshaped the stock market.

AUSTIN, Texas, May 06, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world's largest cloud- and carrier-neutral data center platform, today announced a strategic partnership with DCD Academy to enhance talent development opportunities for its global operations workforce. New Hire Accelerate Pathways, Digital Realty's standardized onboarding program is designed to equip engineers, including those without engineering degrees, with the skills, training and career growth needed to support data center operations worldwide.

AUSTIN, Texas, May 06, 2026 (GLOBE NEWSWIRE) -- Digital Realty ( NYSE: DLR ), the world's largest cloud- and carrier-neutral data center platform, today announced a strategic partnership with DCD Academy to enhance talent development opportunities for its global operations workforce. New Hire Accelerate Pathways, Digital Realty's standardized onboarding program is designed to equip engineers, including those without engineering degrees, with the skills, training and career growth needed to support data center operations worldwide.

Digital Realty Trust offers a robust platform in data center REITs, but its preferred stocks present a superior risk-adjusted yield for conservative investors. DLR's preferred shares (DLR.PR.J, DLR.PR.K, DLR.PR.L) yield 6.4–6.5%, trade below par, and carry investment-grade ratings, outpacing both common stock and OTC bonds. Key credit metrics include a net debt/EBITDA of 5.5x, EBITDA coverage of 6x, and a low leverage ratio of 31.62%, supporting financial stability.

SBAC beat Q1 estimates as international leasing revenues surge 32.6%, helping lift full-year 2026 guidance despite rising costs.

Yes, some stocks can mostly avoid exposure to these external threats.

Digital Realty Trust (DLR) preferred shares, particularly Series J (DLR.PR.J) and Series L (DLR.PR.L), are rated a buy for relatively higher current income seeking investors. DLR preferreds offer a ~6.46% yield, significantly higher than the common stock's ~2.5%, with a meaningful discount to par and potential for capital appreciation if rates decline. The company's robust $1.8 billion backlog, strong demand for digital infrastructure, and stable debt maturity profile suggests the safety of preferred distributions, along with consistent payout history.

Digital Realty Trust, Inc. is positioned for AI-driven data center growth, with 1.2GW under construction and a $1.8B backlog supporting visibility through 2028. DLR's expansion targets large-scale hyperscaler and AI inferencing customers, but shares may already reflect much of the anticipated growth, limiting near-term upside. I am downgrading DLR to Hold with a $215 price target (21.85x eFY28 EV/aEBITDA), citing premium valuation and a stagnant $4.88/share distribution since 2022.

Pre-Market Stock Futures: The futures are trading lower as we get set to start a new trading week, and after last week's string of record highs, it may be tough to duplicate the stellar performance that Wall Street put on. All of the major indices closed higher, except the Dow Jones Industrials, which finished the... Here Are Monday's Top Wall Street Analyst Research Calls: Adobe, Advanced Micro Devices, CrowdStrike, DoorDash, Fortinet, GE Vernova, Snap, StubHub, and More

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in Digital Realty Trust, Inc. (NYSE: DLR) by 13.0% in the undefined quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,032 shares of the real estate investment trust's stock after selling 8,209

DLR beats Q1 estimates as leasing strength, record backlog and strong demand drive growth, prompting a higher 2026 outlook.

DLR's beneficiary status has been observed in the growing backlog by +95.8% YoY and the higher rental rates, with it underscoring their likely to be robust, multi-year, profitable growth trends. Thanks to the ongoing capacity expansions and accretive M&A activities, it is unsurprising that the management has raised their FY2026 guidance and the stock well buoyed since December 2025 bottom. The rally has consequently triggered DLR's somewhat premium Price/FFO of 25.27x and a moderating forward dividend yield, along with the notably overbought technical indicators.

Intel results show strong AI demand, cannabis stocks slump after DOJ ruling, and more

Core FFO: $2.04 per share for Q1 2026, reflecting strong double-digit year-over-year growth.Leasing Activity: Signed leases representing $707 million of annual

Digital Realty Trust, Inc. (DLR) Q1 2026 Earnings Call Transcript

The headline numbers for Digital Realty Trust (DLR) give insight into how the company performed in the quarter ended March 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Digital Realty Trust (DLR) came out with quarterly funds from operations (FFO) of $2.04 per share, beating the Zacks Consensus Estimate of $1.94 per share. This compares to FFO of $1.77 per share a year ago.

AUSTIN, Texas, April 23, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world's largest cloud- and carrier-neutral data center platform, announced today financial results for the first quarter of 2026. All per share results are presented on a fully diluted basis.

Digital Realty is exhibiting disciplined capital allocation and operational execution in the data center REIT space. DLR's focus on strategic asset recycling and prudent balance sheet management supports sustainable growth and dividend stability. Revenue growth momentum combined with the broader competitive dynamics suggests that DLR might be at an inflection point.

DLR gears up for Q1 results with projected double-digit revenue growth and rising FFO, driven by strong data center demand and AI momentum.

U.S. equities surged to record highs as optimism over a potential U.S.-Iran peace deal and the reopening of the Strait of Hormuz drove a risk-on rally, pushing oil sharply lower. Markets rapidly repriced the risk of a prolonged oil shock after the Strait of Hormuz reopened, easing fears of a major energy disruption that could have derailed global growth. Cooler-than-expected PPI data and a solid start to earnings season supported equities, though renewed threats to shipping traffic over the weekend underscored that progress toward de-escalation remains fragile.

Baillie Gifford and Co. lifted its position in Digital Realty Trust, Inc. (NYSE: DLR) by 526.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,541 shares of the real estate investment trust's stock after purchasing an additional 34,067 shares during the period. Baillie

Digital Realty Trust, Inc. (NYSE: DLR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $195.00 to $210.00. Morgan Stanley currently has an equal weight rating on the stock. Digital Realty Trust traded as high as $191.90 and

Massachusetts Financial Services Co. MA decreased its holdings in shares of Digital Realty Trust, Inc. (NYSE: DLR) by 20.9% in the undefined quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,200,375 shares of the real estate investment trust's stock after

U.S. equity markets extended their rebound this week as investors welcomed tentative progress toward de-escalation in the Middle East following several days of dramatic threats of significant escalation. The fragile pause in hostilities temporarily eased fears of a prolonged disruption to global energy supplies and fueled a sharp retreat in oil prices after a surge to four-year highs. Markets also found support from lukewarm inflation data and signs that the U.S. labor market continues to demonstrate resilience despite elevated energy costs and geopolitical uncertainty.

SINGAPORE, April 09, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world's largest cloud- and carrier-neutral data center platform, today announced it is targeting nearly S$7 billion of total investment in Singapore, reinforcing the market's critical role as an AI infrastructure hub for Asia Pacific, with more than S$4.3 billion planned for new data center developments, building on existing investments. "Singapore is emerging as a critical hub for AI inference in Asia Pacific," said Serene Nah, Managing Director and Head of Asia Pacific, Digital Realty.

I achieved a record $912.86 in monthly dividends and added $308.68 in forward income, reaching $6,883.46 in annual projected dividends. New capital contributions and purchases, particularly in SPYI and ADC, drove forward income growth this month. My portfolio yield on cost stands at 4.83% versus a current yield of 3.77%, reflecting disciplined accumulation and reinvestment.

TOKYO, April 08, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world's largest cloud- and carrier-neutral data center platform, today announced the opening of the NRT14 data center ("NRT14") at its NRT campus in Inzai City, Chiba Prefecture, in Japan.

도쿄, April 08, 2026 (GLOBE NEWSWIRE) -- 세계 최대의 클라우드 및 캐리어 중립 데이터센터 플랫폼 기업인 디지털 리얼티 (NYSE: DLR) 는 일본 도쿄 NRT12 데이터센터에 아시아 태평양 지역 최초의 디지털 리얼티 이노베이션 랩(DRIL)을 개소했다고 밝혔다. 이번 일본 DRIL은 디지털 리얼티와 미쓰비시 상사의 합작법인인 MC 디지털 리얼티를 통해 설립됐다. 2025년 9월 미국 노던버지니아에 첫 번째 시설이 문을 연 데 이어, 일본은 두 번째 글로벌 거점이며, 2026년 하반기에는 싱가포르에도 추가 개소가 예정되어 있다. 일본 AI 생태계 강화일본은 2030년까지 반도체와 인공지능(AI) 분야에 10 조엔* 이상을 투자할 계획을 밝히는 등 관련 투자를 빠르게 확대하고 있다. AI 도입이 산업 전반으로 확산됨에 따라, 기업들은 고밀도·고성능 AI 워크로드를안정적이고 효율적으로 지원할 수 있는 인프라를 필요로 하고 있다.

TOKYO, April 08, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), platform pusat data terbesar di dunia yang tidak terikat secara eksklusif dengan satu cloud maupun operator tertentu hari ini mengumumkan pembukaan Digital Realty Innovation Lab (DRIL) pertama di Asia Pasifik, yang berlokasi di pusat data NRT12 di Tokyo, Jepang. Didirikan melalui MC Digital Realty, sebuah perusahaan patungan antara Digital Realty dan Mitsubishi Corporation, DRIL di Jepang ini merupakan peluncuran kedua secara global, setelah pembukaan fasilitas perdana di Northern Virginia pada bulan September 2025.

中国北京, April 08, 2026 (GLOBE NEWSWIRE) -- 世界领先的云与运营商中立数据中心、托管和互连解决方案提供商Digital Realty (里瑞通;NYSE: DLR) 今日宣布,其亚太区首个 Digital Realty 创新实验室 (DRIL) 正式启用,该实验室位于日本东京的 NRT12 数据中心。 该日本 DRIL 由 Digital Realty 与 Mitsubishi Corporation 的合资企业 MC Digital Realty 设立,是全球第二个 DRIL(首个于 2025 年 9 月在美国北弗吉尼亚启用),后续还将有 DRIL 于 2026 年下半年在新加坡启用。 强化日本的人工智能生态系统日本正在加速对半导体和人工智能技术的投资,计划到 2030 年在这些领域投入 10 万亿日元*或更多资金。 随着人工智能在各行业加速渗透,企业亟需具备能力的基础设施,以支持高密度、高性能工作负载,同时兼顾运营效率与系统韧性。 日本 DRIL创新实验室 将为 Digital Realty 的本地合作伙伴及客户提供生产级环境,使其能够在真实场景中测试并优化人工智能与混合云架构。 通过对基础设施配置(包括风冷和直接液冷环境)进行实际评估,客户可以在全面部署之前验证性能、功率密度和冷却策略。 该设施专为支持先进人工智能和高性能计算应用场景而设计,配备具备直接液冷功能的机柜,可支持高功率密度的工作负载。 截至启用之时,已有超过 20 家合作伙伴企业正在利用 DRIL 探索集成基础设施,以实现更快速的人工智能和混合云实施。 "我们看到,全球对能够支撑复杂、高密度人工智能工作负载的基础设施需求正持续走强。 日本凭借先进的技术基础设施,并联通辐射覆盖全球近 60% 人口的亚太市场,具备成为人工智能创新增长引擎的独特优势。 将 DRIL 拓展至日本,不仅体现了该市场的数字化成熟度,也使客户能够以实践方式测试面向人工智能的基础设施,在降低部署风险的同时,实现更具信心的规模化扩展。"Digital Realty 首席技术官 Chris Sharp 表示。 MC Digital Realty 首席运营官 Chris Han 补充道:"在日本,人工智能应用的加速落地,正持续推动对能够支撑更高密度工作负载的基础设施需求不断攀升。该设施使企业能够在全面部署前,对风冷与直接液冷-环境进行评估,并据此甄选最契合自身需求的基础设施配置。 依托 Digital Realty 世界级的运营经验和设计能力,我们将继续提供专为日本不断演进的数字化格局量身定制的解决方案。" 将日本的人工智能工作负载连接至全球平台此次 DRIL计划 将使日本企业能够测试性能、优化配置,并通过 Digital Realty 的全球互连与编排平台 ServiceFabric 无缝连接至云和网络提供商。 借助 Digital Realty 的全球运营经验及其 Pervasive Datacenter Architecture (PDx) 方法论,客户可评估人工智能部署,同时依托Digital Realty的 PlatformDIGITAL,灵活实现区域及全球范围的规模拓展。 秉承 DRIL 的全球网络一贯标准,东京 DRIL 的主要功能将包括: 高密度人工智能与 HPC 测试 - 支持通过高密度托管部署运行人工智能和高性能计算工作负载,单机柜最高支持 150 kW 的部署需求。 能耗与冷却感知测试 - 赋能企业在全面部署前,评估人工智能性能、功率密度与能效之间的权衡关系。 人工智能基础设施优化 - 使企业能够在面向人工智能工作负载优化的环境中,深入评估其专属的电力、冷却及 GPU 资源需求。 混合云验证 - 借助云直连功能,企业可优化混合云策略,并通过 ServiceFabric(Digital Realty 旗下互连与编排平台)实现无缝接入。 人工智能工作负载编排 - 客户可借助 Digital Realty 的 Private AI Exchange (AIPx) 对人工智能工作负载进行统一编排,从而在分布式环境中实现安全、低延迟的协同集成。 跨站点延迟测试 - 企业可开展多场景延迟测试,确保在跨站点及云端连接中实现稳定且流畅的性能表现。 东京设施是 Digital Realty 全球 DRIL 网络计划的一部分,该网络支持着一个不断壮大的客户和合作伙伴生态系统,包括 AMD、Cisco 和 Lenovo,并进一步强化了 Digital Realty 致力于在全球关键数字市场提供人工智能就绪型基础设施的承诺。 关于 Digital Realty 里瑞通(Digital Realty) 通过提供全方位的数据中心、托管和互连解决方案将公司和数据结合在一起。 PlatformDIGITAL 是该公司的全球数据中心平台,为客户提供安全的数据会议场所和经过验证的普适数据中心架构 (PDx) 解决方案方法,以推动创新并有效管理数据引力(Data Gravity)挑战。 里瑞通(Digital Realty)的全球数据中心覆盖六大洲30多 个国家的 55个城市,拥有 300 多个设施,让客户能够访问至关重要的互联数据社区。 欲了解里瑞通(Digital Realty)更多信息,请访问 digitalrealty.

TOKYO, April 08, 2026 (GLOBE NEWSWIRE) -- Digital Realty (NYSE: DLR), the world's largest cloud- and carrier-neutral data center platform, today announced the opening of the first Digital Realty Innovation Lab (DRIL) in Asia Pacific, located at the NRT12 data center in Tokyo, Japan.

That spending spree will lift some AI stocks while generating fierce headwinds for others.

A massive AI wealth transfer may already be underway as tech companies enclose the infrastructure of the AI economy.

U.S. equity markets snapped a five-week losing streak this week, while interest rates retreated, as resilient economic data pushed back against stagflation concerns amid a continuation of the Iran conflict. Major equity benchmarks rebounded sharply, with the S&P 500 gaining 3.4% and the Nasdaq 100 rising 4.0%, while real estate stocks outperformed as falling Treasury yields boosted rate-sensitive sectors. Treasury yields declined despite surging oil prices, breaking their recent correlation with crude, as investors weighed solid U.S. employment data against risks that higher energy costs could slow growth abroad.

After a run-in with reality, the market's starting to think more critically about these companies' actual potential.

Aberdeen Group plc reduced its stake in Digital Realty Trust, Inc. (NYSE: DLR) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 917,832 shares of the real estate investment trust's stock after selling 17,066 shares during the period. Aberdeen Group

The Investment Committee give you their top stocks to watch for the second half.

Nvidia is positioned to capture a huge chunk of AI infrastructure spending in the next five years. Digital Realty did $1.2 billion in bookings in 2025 and has a backlog of $1.4 billion.

Shares of Digital Realty DLR have gained 15.8% over the past three months, comfortably outpacing the industry's 1.3% growth. This performance is supported by strong demand for data centers and steady execution of its expansion strategy.

Pre-Market Stock Futures: Futures are trading higher this morning after reports are circulating that President Trump wants to end the war soon. This comes after Monday's session, which saw three of the four major indices close lower, while oil traded above $100 for the first time since the summer of 2022. Conflicting headlines flew around;... Here Are Tuesday's Top Wall Street Analyst Research Calls: Arista Networks, Block, Colgate-Palmolive, Digital Realty, Emerson Electric, MiniMed, Shake Shack, and More.

Boston Common Asset Management LLC trimmed its holdings in Digital Realty Trust, Inc. (NYSE: DLR) by 64.4% in the undefined quarter, according to its most recent filing with the SEC. The institutional investor owned 27,172 shares of the real estate investment trust's stock after selling 49,148 shares during the quarter. Boston Common Asset
