DLR on NYSE

Digital Realty Trust

Logo: Digital Realty Global, CC BY-SA 4.0, via Wikimedia Commons4

American data center provider

Digital Realty is a real estate investment trust that owns, operates, and invests in carrier-neutral data centers across the world. The company offers data center, colocation, and interconnection services.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

2004Founded1

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  • TickerDLR on NYSE1
  • Industryreal estate investment trust1
  • HeadquartersAustin1
  • Websitewww.digitalrealty.com
  • Legal formcorporation1
  • Incorporated inMD5
  • Business address601 W. 2Nd Street, Floor 32, Austin, Tx 787015
  • Filer categoryLarge accelerated filer5
Digital Realty data center - Hillsboro, Oregon
Photo: M.O. Stevens, CC BY-SA 4.0, via Wikimedia Commons7

Digital Realty is a real estate investment trust that owns, operates, and invests in carrier-neutral data centers across the world. The company offers data center, colocation, and interconnection services. It was formed in 2004 by GI Partners. As of June 2023, Digital Realty has over 300 facilities in more than 25 countries.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

10.8%Operating margin8
21.4%Net margin8
10.0%Revenue growth, 20258
5.7%Return on equity8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Rental and other services brought in 98% of the revenue Digital Realty Trust broke down this way in fiscal 2025.

  1. Rental and other services$6.0B898%up 9% from 2024
  2. Fee income and other$143.8M82%up 98% from 2024
Products and services by year
Products and services202320242025
Rental and other services$5.4B$5.5B$6.0B
Fee income and other$46.9M$72.5M$143.8M

Regions

United States brought in 52% of the revenue Digital Realty Trust broke down this way in fiscal 2025.

  1. United States$3.2B852%up 9% from 2024
  2. Outside the United States$2.9B848%up 11% from 2024
Regions by year
Regions202320242025
United States$2.8B$2.9B$3.2B
Outside the United States$2.6B$2.6B$2.9B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs71¢$4.3B
  • Interest7¢$437.9M
  • Income tax1¢$32.0M
  • Profit21¢$1.3B

Out of $6.1B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid72¢$1.7B
  • Kept or used elsewhere28¢$683.7M

Out of $2.4B of cash from operations.8

Financial statements

Revenue91011128$6.1B in 2025+90% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $3.2B$3.2B20192020: $3.9B$3.9B2020+22%2021: $4.4B$4.4B2021+13%2022: $4.7B$4.7B2022+6%2023: $5.5B$5.5B2023+17%2024: $5.6B$5.6B2024+1%2025: $6.1B$6.1B2025+10%
Operating income91011128$658.5M in 2025+11% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $594.2M$594.2M20192020: $557.5M$557.5M2020−6%2021: $694.0M$694.0M2021+24%2022: $590.0M$590.0M2022−15%2023: $524.5M$524.5M2023−11%2024: $471.9M$471.9M2024−10%2025: $658.5M$658.5M2025+40%
Net income91011128$1.3B in 2025+126% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $579.8M$579.8M20192020: $356.4M$356.4M2020−39%2021: $1.7B$1.7B2021+380%2022: $377.7M$377.7M2022−78%2023: $948.8M$948.8M2023+151%2024: $602.5M$602.5M2024−37%2025: $1.3B$1.3B2025+117%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Total operating revenues$6.1B$5.6B$5.5B
Rental property operating and maintenance$2.5B$2.3B$2.4B
Property taxes and insurance$219.7M$200.8M$216.4M
Depreciation and amortization$1.9B$1.8B$1.7B
General and administrative$565.5M$480.0M$449.1M
Transactions and integration$185.1M$93.9M$84.7M
Provision for impairment$78.6M$191.2M$118.4M
Other$3.7M$27.1M$7.5M
Total operating expenses$5.5B$5.1B$5.0B
Operating income$658.5M$471.9M$524.5M
Equity in loss of unconsolidated entities-$32.0M-$120.1M-$29.8M
Gain on disposition of properties, net$995.6M$595.8M$900.5M
Other income, net$161.1M$154.2M$68.4M
Interest expense-$437.9M-$452.8M-$437.7M
Gain (loss) on debt extinguishment and modifications$9.0K-$5.9M
Income tax expense-$32.0M-$54.8M-$75.6M
Net income$1.3B$588.3M$950.3M
Net (income) loss attributable to noncontrolling interests-$4.6M$14.2M-$1.5M
Net income attributable to Digital Realty Trust, L.P.$1.3B$602.5M$948.8M
Preferred stock dividends-$40.7M-$40.7M-$40.7M
Net income available to common unitholders$1.3B$561.8M$908.1M
Basic (in dollars per share)$3.73$1.74$3.04
Diluted (in dollars per share)$3.58$1.61$2.88
Basic (in shares)339.8M shares323.3M shares298.6M shares
Diluted (in shares)347.8M shares331.5M shares309.1M shares

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The story

The company was formed in 2004 by GI Partners, which contributed 21 data centers that it acquired through bankruptcy auctions and from distressed companies at a 20%–40% discount to replacement cost. On November 4, 2004, the company became a public company via an initial public offering. At that time, the company owned 23 properties comprising 5.6 million square feet.

In August 2006, the company acquired a property in Phoenix, Arizona, for $175 million. By March 2007, GI Partners had sold all of its shares in the company.

2010s

In January 2010, the company acquired three data centers in Massachusetts and Connecticut for $375 million.

In January 2012, the company acquired a 334,000-square-foot data center near Hartsfield-Jackson Atlanta International Airport for $63 million in a leaseback transaction. That same month, the company also acquired a data center in San Francisco for $85 million.

In April 2013, the company acquired the data center of Delta Air Lines in Eagan, Minnesota, for $37 million in a leaseback transaction. In July 2013, the company doubled capacity at its data center in Chandler, Arizona.

In May 2015, the company sold a building in Philadelphia for $161 million that it had acquired in 2005 for $59 million. In October 2015, the company acquired Telx for $1.886 billion. In November 2015, the company acquired 125.9 acres of undeveloped land in Loudoun County, Virginia, for $43 million and announced plans to build a 2 million-square-foot data center on the property.

In July 2016, the company acquired eight data centers in Europe from Equinix for $874 million.

In March 2017, the company announced a $22 million expansion of its data center in Atlanta. In September 2017, the company completed the acquisition of DuPont Fabros Technology.

Read the full text

In 2018, the Supreme Court ruled in favor of the company in Digital Realty Trust, Inc. v. Somers, a case in which Digital Realty fired an employee who had complained internally about the elimination of supervisory controls and the hiding of cost overruns. After he was fired, the employee sued the company, saying he was protected by whistleblower provisions in Dodd-Frank. The Supreme Court, citing Dodd-Frank, ruled that these protections only applied to whistleblowers who had first notified the SEC.

Also in 2018, Digital Realty earned the U.S. Environmental Protection Agency's (EPA's) ENERGY STAR certification for energy performance in 24 of its data centers. In December 2018, the company acquired Ascenty for $1.8 billion. At the time, Ascenty operated eight data centers in Brazil.

In October 2019, Digital Realty announced the acquisition of European data center provider Interxion for $8.4 billion to "create a leading global provider of data centre, colocation and interconnection solutions".

2020s

In 2020, Digital Realty joined the Science-Based Target Initiative (SBTi), promising to reduce its Scope 1 and 2 emissions by 68% and Scope 3 emissions by 24% between 2018 and 2030.

In January 2021, Digital Realty said it would move its headquarters to Austin, Texas.

In October 2021, the company entered the West African market by acquiring a controlling stake in Medallion Communications, a leading carrier-neutral data center operator in Nigeria.

In January 2022, the company announced a 55% stake acquisition in Teraco Data Centres.

In July 2023, Digital Realty received a Certificate of Conformity, certifying its adherence to the Self-Regulatory Initiatives set out by the CNDCP in Europe.

On 10 September 2024, about 7:45 am, a Digital Realty data centre in Loyang, Singapore, caught fire. According to the Singapore Civil Defence Force, the fire "involved lithium-ion batteries housed in battery rooms on the third floor of a four-storey building". Digital Realty said its employees were evacuated from the data centre without injuries. The fire affected Lazada and Bytedance's systems, as well as Alibaba Cloud's Availability zone C in Singapore, and possibly DigitalOcean, Coolify, and Cloudflare.

In May 2026, the company opened its first data center in Barcelona, Spain, broke ground on a data center in Paris, France, and launched a new liquid cooling lab in London, UK. That same month, it was also announced that Mistral AI had signed a capacity agreement with Digital Realty.

In June 2026, it was reported that Digital Realty was buying venture capital firm Columbia Capital for about $485 million.

From Wikipedia’s article on Digital Realty, shared under CC BY-SA 4.0.6

Leadership

Who has led Digital Realty Trust, and when. Pick a name to see everywhere that person has worked.

20052010201520202025

Products and brands

  • data center

Listed on Wikidata.1

Timeline

  1. 2021New chief executive Andrew P. Power becomes CEO1
  2. 2004Founded Founded1

Recent filings

  1. Oct 9, 20268-K
  2. Oct 6, 20268-K
  3. Oct 6, 20268-K
  4. Oct 6, 20268-K
  5. Oct 2, 20264
  6. Oct 2, 20264
  7. Oct 2, 20264
  8. Oct 2, 20264
  9. Oct 2, 20264
  10. Aug 31, 20264
  11. Aug 19, 2026424B7
  12. Aug 19, 20268-K
  13. Aug 12, 2026SCHEDULE 13G
  14. Jul 31, 202610-Q
  15. Jul 23, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2