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Digital Realty Trust, Inc. (DLR)

Digital Realty owns, acquires, develops and operates data centres, the buildings that hold other companies' computing equipment and connect it to networks. It delivers space, power and interconnection solutions that let its customers connect with each other and service their own customers. It was incorporated in Maryland in 2004, operates as a REIT for US federal income tax purposes, and has its head office in Dallas.

Digital Realty Trust, Inc.

Digital Realty owns, acquires, develops and operates data centres, the buildings that hold other companies' computing equipment and connect it to networks. It delivers space, power and interconnection solutions that let its customers connect with each other and service their own customers. It was incorporated in Maryland in 2004, operates as a REIT for US federal income tax purposes, and has its head office in Dallas.

The portfolio

310 data centres at the end of 2025, including 89 held as investments in unconsolidated entities. By location: 118 in the United States, 113 in Europe, 36 in Latin America, 18 in Asia, 16 in Africa, six in Australia and three in Canada. The company describes a footprint of over 300 facilities with over 232,000 cross connects, in over 55 metropolitan areas across more than 30 countries on six continents.

What a customer actually buys

Two shapes of deal, and they differ in contract length and in how fast the space can be delivered. Deployments of up to one megawatt run from a single cabinet to around 75 cabinets, can be turned up in days, use a consistent design and operating environment, and carry contracts generally of two to five years. Deployments above one megawatt scale from medium to very large, take weeks to execute, are built to the customer's own specification, and carry contracts generally of five to ten years or longer. For customers who want the shell rather than the finished room, a Powered Base Building solution supplies the location, the power and the network access needed to build a data centre inside.

Interconnection, the second product

Alongside space and power, Digital Realty sells the physical and virtual links between customers. A cross connect is a physical connection between two customer-defined end points in the same facility, so the two can exchange data directly. Metro Connect links facilities within the same metropolitan area. ServiceFabric is an orchestration platform for provisioning connectivity across the company's own footprint and third-party locations. Internet Services sells private internet connections to diverse providers over a multi-service port. Precabling supplies predetermined fibre into a central meet-me room, and Pathway supplies conduit-based bulk fibre connections between two parties inside or between facilities.

The company states that interconnection is a line of business that would be difficult to build organically and that it enhances the value of the data centre offering. It also links the value of individual sites to their network density: the filing says connectivity-centric customers in certain of its data centres have led to densely connected data communities that competitors find difficult to replicate.

Why customers outsource this

The filing puts the demand case in terms of a concept it calls Data Gravity, the idea that as enterprises analyse and process data they create more of it, and that the accumulating mass becomes increasingly difficult to replicate or relocate. Around that it cites cloud adoption, hybrid cloud architectures combining public and private, artificial intelligence workloads, and the general growth in data traffic. It also makes the practical argument: in markets where construction and operating costs are high and time to market is long, customers who would rather not spend their own capital on a building use a provider instead, and a multinational dealing with one global provider avoids negotiating with a series of local ones.

Customers

Named in the filing across its customer categories are AT&T, Comcast, IBM, LinkedIn, Oracle and Zayo Group, alongside unnamed cloud providers and large software and investment-grade companies. The groupings are cloud and IT services, digital content providers and financial companies, and network and mobile services.

The cost that runs through everything

The filing states that the cost of electric power is a significant component of its operating expenses, and flags that additional taxation or regulation of energy use, whether from US federal legislation, environmental regulation, state law, or rules in the regions abroad where it operates, could raise those costs materially, and that the company may not be able to pass all of it on to customers.

From Digital Realty's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Digital Realty Trust became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 30 October 2026
Revenue
$1.9 billion
+20.6% on the year · -1.1% on the quarter
Q4 FY2024Q3 FY2026
Net income
$195 million
+188.1% on the year · -56.9% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.48
+220.0% on the year · -60.3% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 13 February 2026
Revenue
$6.1 billion
+10.0% on the year
FY2018FY2025
Net income
$1.3 billion
+117.2% on the year
FY2018FY2025
Diluted EPS
$3.58
+122.4% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsDigital Realty Trust (DLR) reported revenue of $6.1 billion for fiscal 2025, the year ended 31 December 2025, up 10.0% on the year before. Net income was $1.3 billion and diluted earnings per share $3.58. Revenue was $5.6 billion in fiscal 2024, $5.5 billion in fiscal 2023, $4.7 billion in fiscal 2022 and $4.4 billion in fiscal 2021. Net income in the same years was $602 million, $949 million, $378 million and $1.7 billion. Over the twelve months to 30 September 2026, Digital Realty Trust reported revenue of $7.1 billion and net income of $927 million. Revenue grew 9.4% a year, compounded, over the five years to fiscal 2025. Digital Realty Trust had 375 million shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Digital Realty Trust was $65.3 billion, 72.9 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE3.3%
ROCE2.4%
Operating margin16.2%
Net margin13.1%
FCF margin-12.6%
Interest cover2.6x
Debt to equity0.69x
Cash conversion2.91x
Share count, last 12 months9.3%
Sales CAGR, 3 years9.2%
Profit CAGR, 3 years51.3%
EPS, TTM$2.39

At the close of 6 November 2026

Price$174.21
Market cap$65.3 billion
Stock P/E72.9x
Price to book2.3x
EV / EBITDA26.3x
Dividend yieldn/a
Market cap / sales9.2x
52-week high$203.91
52-week low$147.93
Price, 1 year3.5%
Price CAGR, 3 years10.8%
Price CAGR, 5 years2.3%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Digital Realty Trust, Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
DLRgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,1111,1271,1391,1921,2331,3391,3661,4021,3701,3311,3571,4311,4361,4081,4931,5771,6351,6351,9241,902
Operating income13114117015712117715558.21341499.9168144196212138113268467302
Operating margin12%13%15%13%10%13%11%4%10%11%1%12%10%14%14%9%7%16%24%16%
Interest expense71.866.769.076.586.910211111111411011512410598.510911411711611493.3
Net income1,06873.363.42373.968.711873428.328280.251.21901101,03267.898.6179453195
Net margin96%7%6%20%0%5%9%52%2%21%6%4%13%8%69%4%6%11%24%10%
Diluted EPS$3.73$0.22$0.19$0.75n/a$0.20$0.37$2.33$0.08$0.82$0.20$0.09$0.51$0.27$2.94$0.15$0.24$0.46$1.21$0.48
Operating cash flow4522785064194563504643584623525735677693996416537195321,063382
Capital expenditure7735195486868907396301,0981,0596596557827357877046871,002870914803
Free cash flow-321-241-42.4-267-433-389-166-739-597-307-82.3-21534.1-388-63.1-34.5-283-338149-421
Dividends paid9.970536636910.273838438810.278941641910.284943343610.2871454476
Shares outstanding284m285m285m288m291m291m299m303m312m312m326m331m337m337m340m343m344m349m370m375m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A blank figure marked on a quarter is one the filings do not give on their own: the quarters as filed do not add to the year the company filed, or the year and its quarters stand on different share counts. Each quarter's page says which. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2009FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue6378651,0631,2791,4821,6161,7632,1422,4583,0463,2093,9044,4284,6925,4775,5556,1137,096
Operating income1782423043663822594024974515505945586945905244726581,150
Operating margin27.9%28.0%28.6%28.6%25.8%16.0%22.8%23.2%18.4%18.0%18.5%14.3%15.7%12.6%9.6%8.5%10.8%16.2%
Interest expense88.4137149157189191201236259322353333294299438453438440
Pre-tax incomen/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,345n/a
Income tax1.01.9-0.02.61.35.26.510.47.92.112.038.072.831.675.654.832.048.8
Effective tax raten/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a2.4%n/a
Net income87.71021562103142002974262483315803561,7093789496021,309927
Net margin13.8%11.8%14.7%16.4%21.2%12.4%16.8%19.9%10.1%10.9%18.1%9.1%38.6%8.0%17.3%10.8%21.4%13.1%
Diluted EPS$0.61$0.68$1.32$1.48$2.12$0.99$1.56$2.20$0.99$1.21$2.35$1.00$5.94$1.11$3.00$1.61$3.58$2.39
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service FY2017 to FY2025

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Rental and other services2,0102,4123,1963,8874,3954,6635,4305,4825,96997.6%
Fee income and other7.49.812.917.132.829.246.972.51442.4%
Tenant reimbursements440625n/an/an/an/an/an/an/an/a
Rental and other servicesFee income and otherTenant reimbursements FY2017 to FY2018
2,458FY20173,209FY20194,428FY20215,477FY20236,113FY2025

$ million; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2010 to FY2025, 2 years left out

FY2010FY2011FY2012FY2014FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States7729461,0501,2001,6701,9432,5002,6002,6022,7702,7602,8362,9103,16851.8%
Outside the United States93.71172294004435155646001,3021,6581,9312,6412,6442,94548.2%
United StatesOutside the United States
1,063FY20111,600FY20142,458FY20173,200FY20194,428FY20215,477FY20236,113FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2009FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow2843594015436566567979121,0231,3851,5141,7071,7021,6591,6352,2612,4122,696
Capital expenditure3923906388461,1908527377581,1511,3251,4372,0642,5212,6433,5262,8323,1813,589
Free cash flow-109-30.7-237-303-533-19659.7154-12760.276.9-358-819-984-1,891-570-769-893
Free cash flow margin-17.0%-3.5%-22.3%-23.7%-36.0%-12.2%3.4%7.2%-5.2%2.0%2.4%-9.2%-18.5%-21.0%-34.5%-10.3%-12.6%-12.6%
Cash from investing-520-1,738-831-2,476-1,061-644-2,526-1,304-1,357-3,036-275-2,599-1,062-4,699-1,115-1,906-2,230-7,361
Cash from financing2351,3184591,949402-27.01,7493513211,757-1,272936-5912,9699632,063-4872,095
Depreciation and amortisation1982643103834755395716998421,1871,1641,3661,4871,5781,6951,7721,8952,040
Dividends paid1101722613344014424695226468499221,1631,3791,4511,5211,6331,7281,812
Diluted shares, weighted77m86m99m116m128m134m139m151m175m207m209m263m283m298m309m332m348m380m
Shares outstanding at period end77m91m106m125m128m136m146m159m205m206m209m280m284m291m312m337m344m375m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2009FY2010FY2011FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,5591,9632,5233,4683,6113,8784,5005,09610,3499,8599,87917,71818,00517,58319,11821,34022,92628,112
Non-controlling interest75.892.157.530.136.036.036.436.37001,000729729472524484402421532
Redeemable equityn/an/a2921621241791930.053.915.841.542.047.01,5151,3951,4331,4991,596
Debt1,7842,8072,9404,0124,695n/a5,8995,8398,64911,10110,12213,30513,56216,72417,53816,71418,40219,495
Other liabilities3264682861,1471,1615,4347881,2221,6521,7912,2964,2834,2845,1395,5795,3936,1626,789
Total liabilities and equity3,7455,3296,0998,8199,6279,52711,41612,19321,40423,76723,06836,07636,37041,48544,11345,28449,41056,525
Owned
Goodwilln/an/an/an/an/a0.03317533,3904,3483,3638,3317,9379,2089,2408,9299,71210,051
Intangible assetsn/an/an/an/a302228n/an/an/an/an/an/an/an/an/a1,9351,807n/a
Cash and equivalents72.311.740.652.550.134.857.110.50.112789.81091431421,6253,8713,452803
Other assets3,6735,3186,0588,7679,2759,26411,02811,42918,01519,29219,61527,63728,28932,13533,24830,54834,43945,671
Total assets3,7455,3296,0998,8199,6279,52711,41612,19321,40423,76723,06836,07636,37041,48544,11345,28449,41056,525
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded13.2%9.4%9.2%20.0%
Profit growth, compounded16.0%29.7%51.3%-33.8%
Return on equity, average4.7%5.0%4.5%5.7%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Digital Realty Trust's revenue in fiscal 2025?

Digital Realty Trust (DLR) reported revenue of $6.1 billion for fiscal 2025, the year ended 31 December 2025, up 10.0% on the year before.

How much did Digital Realty Trust earn in fiscal 2025?

Net income was $1.3 billion for fiscal 2025, and diluted earnings per share $3.58.

What is Digital Realty Trust's P/E ratio?

At the close of 6 November 2026, Digital Realty Trust traded at 72.9 times its earnings over the twelve months to 30 September 2026.

What is Digital Realty Trust's market cap?

The market cap of Digital Realty Trust was $65.3 billion at the close of 6 November 2026.

Peers: Trading

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Welltower Inc. WELL$179.3 billion106.063.4%-1.9%39.2%0.401.3%
Prologis, Inc. PLD$120.7 billion28.037.6%54.8%7.2%0.663.3%
Equinix Inc. EQIX$100.2 billion60.7911.3%22.5%11.1%1.572.0%
American Tower Corp. AMT$87.7 billion26.6394.2%44.8%5.3%10.693.7%
Simon Property Group Inc. SPG$73.9 billion16.48110.4%45.9%16.2%6.963.9%
Digital Realty Trust, Inc. DLR$65.3 billion72.893.3%16.2%20.0%0.69n/a
Public Storage PSA$63.1 billion35.3413.1%34.5%5.2%0.843.6%
Realty Income Corp. O$56.2 billion40.723.4%20.5%10.8%0.795.5%
Ventas, Inc. VTR$46.9 billion167.461.7%3.2%22.1%0.792.3%
Crown Castle Inc. CCI$37.7 billion46.63n/a47.1%-15.7%n/a4.8%
Extra Space Storage Inc. EXR$33.2 billion32.358.1%43.8%4.1%1.044.1%
Iron Mountain Inc. IRM$31.7 billion69.58n/a19.5%17.5%n/a3.2%
All 181 in Trading
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Morgan Stanley MS$284.0 billion14.4017.5%n/a16.2%3.322.3%
Goldman Sachs Group Inc. GS$249.8 billion12.4417.7%n/a18.7%3.562.1%
BlackRock, Inc. BLK$182.3 billion26.8111.9%32.5%24.7%0.221.9%
Welltower Inc. WELL$179.3 billion106.063.4%-1.9%39.2%0.401.3%
Charles Schwab Corp. SCHW$157.9 billion15.6120.7%n/a18.1%0.461.3%
Prologis, Inc. PLD$120.7 billion28.037.6%54.8%7.2%0.663.3%
CME Group Inc. CME$109.7 billion25.1016.8%65.7%9.0%0.133.7%
Equinix Inc. EQIX$100.2 billion60.7911.3%22.5%11.1%1.572.0%
Intercontinental Exchange, Inc. ICE$96.1 billion23.5013.9%40.6%12.1%0.781.2%
Blackstone Inc. BX$90.8 billion26.5640.2%47.9%22.1%1.533.9%
American Tower Corp. AMT$87.7 billion26.6394.2%44.8%5.3%10.693.7%
KKR & Co. Inc. KKR$86.6 billion30.7210.2%n/a31.1%1.720.8%
Brookfield Asset Management Ltd. BAM$84.6 billionn/an/a58.6%31.9%0.38n/a
Simon Property Group Inc. SPG$73.9 billion16.48110.4%45.9%16.2%6.963.9%
Robinhood Markets, Inc. HOOD$72.9 billion37.2919.7%45.7%20.9%0.26n/a
Apollo Global Management, Inc. APO$69.0 billionn/a-5.8%9.8%12.2%0.921.8%
Digital Realty Trust, Inc. DLR$65.3 billion72.893.3%16.2%20.0%0.69n/a
Public Storage PSA$63.1 billion35.3413.1%34.5%5.2%0.843.6%
Nasdaq, Inc. NDAQ$59.8 billion29.2717.4%29.7%11.9%0.731.1%
Realty Income Corp. O$56.2 billion40.723.4%20.5%10.8%0.795.5%
Ventas, Inc. VTR$46.9 billion167.461.7%3.2%22.1%0.792.3%
Ameriprise Financial Inc. AMP$43.6 billion11.2981.4%26.8%10.0%1.17n/a
Ares Management Corp. ARES$42.0 billionn/a11.3%17.7%7.6%2.033.9%
Crown Castle Inc. CCI$37.7 billion46.63n/a47.1%-15.7%n/a4.8%
Cboe Global Markets, Inc. CBOE$36.8 billion25.1125.0%36.4%14.3%0.240.9%
Interactive Brokers Group, Inc. IBKR$34.4 billion29.1618.9%n/a19.7%n/a0.4%
Extra Space Storage Inc. EXR$33.2 billion32.358.1%43.8%4.1%1.044.1%
Iron Mountain Inc. IRM$31.7 billion69.58n/a19.5%17.5%n/a3.2%
Raymond James Financial Inc. RJF$31.3 billion14.1918.2%n/a10.5%0.071.3%
Tradeweb Markets Inc. TW$29.7 billion29.9913.7%44.1%14.4%0.000.4%
Nomura Holdings Inc. NMR *$27.3 billion12.459.8%n/a14.0%n/a4.4%
Vici Properties Inc. VICI$27.3 billion11.378.1%n/a4.7%0.587.3%
Vivmark Residential VMRK$24.6 billion28.488.3%28.2%2.8%0.794.3%
T. Rowe Price Group, Inc. TROW$23.1 billion10.9619.2%32.0%6.9%0.004.8%
LPL Financial Holdings Inc. LPLA$23.0 billion16.9524.0%9.2%31.0%1.340.4%
Royal Gold Inc. RGLD$22.5 billion26.7910.8%62.0%105.2%0.020.7%
Pershing Square Inc. PS$20.6 billionn/a-9.0%0.2%n/a0.21n/a
SBA Communications Corp. SBAC$19.8 billion20.45n/a47.7%2.3%n/a2.6%
Texas Pacific Land Corp. TPL$18.8 billion32.0032.6%75.5%25.3%0.000.9%
TPG Inc. TPG$17.9 billion59.186.8%n/a18.8%0.574.8%
Essex Property Trust, Inc. ESS$17.5 billion50.556.6%29.5%4.5%1.253.8%
Franklin Templeton Inc. BEN$17.1 billion22.976.9%9.7%7.9%0.203.9%
Kimco Realty Corp. KIM$17.0 billion23.847.4%40.1%3.5%0.834.2%
Host Hotels & Resorts, Inc. HST$16.9 billion17.9814.8%14.8%5.0%0.806.1%
Lamar Advertising Co. LAMR$15.8 billion27.5155.8%32.1%5.1%3.394.3%
Blue OWL Capital Inc. OWL$15.4 billion70.144.9%-105.8%119.9%1.898.7%
Weyerhaeuser Co. WY$15.1 billion33.294.8%11.7%-1.1%0.574.0%
W. P. Carey Inc. WPC$15.0 billion22.437.4%43.8%9.0%1.005.7%
Annaly Capital Management Inc. NLY$14.7 billion13.117.1%n/a28.4%2.4314.9%
Omega Healthcare Investors Inc. OHI$14.6 billion19.3613.8%73.4%14.0%0.735.6%
Sun Communities Inc. SUI$14.4 billionn/a-14.7%4.2%2.9%0.723.7%
Carlyle Group Inc. CG$14.0 billion42.225.4%16.6%-7.6%0.463.5%
Healthpeak Properties, Inc. DOC$14.0 billion37.564.8%4.0%9.4%1.196.0%
Mid-America Apartment Communities, Inc. MAA$13.8 billion36.057.3%n/a1.0%1.105.1%
Regency Centers Corp. REG$13.7 billion26.747.7%72.0%8.4%0.724.0%
American Healthcare REIT, Inc. AHR$13.4 billion118.201.7%20.2%21.5%0.251.7%
SEI Investments Co. SEIC$12.5 billion18.3128.3%29.4%12.8%0.011.0%
Equity Lifestyle Properties Inc. ELS$12.2 billion31.0123.1%26.1%3.2%1.893.4%
Invesco Ltd. IVZ$11.9 billionn/a-2.5%-4.5%13.7%0.103.1%
Udr, Inc. UDR$11.7 billion17.2522.3%52.2%0.6%1.844.7%
American Homes 4 Rent AMH$11.7 billion26.916.7%15.2%3.5%0.773.9%
Stifel Financial Corp. SF$11.4 billion12.2816.1%n/a10.9%0.101.8%
Gaming & Leisure Properties, Inc. GLPI$11.3 billion11.8918.9%79.1%7.3%1.638.2%
Freedom Holding Corp. FRHC$11.0 billionn/an/an/an/an/an/a
Jefferies Financial Group Inc. JEF$10.9 billionn/a8.3%n/a17.7%1.723.4%
Evercore Inc. EVR$10.8 billion15.6339.2%21.3%36.6%0.281.2%
Eastgroup Properties Inc. EGP$10.4 billion32.848.9%40.8%10.4%0.513.3%
Bxp, Inc. BXP$10.4 billion19.4710.3%29.2%2.7%3.204.3%
Houlihan Lokey, Inc. HLI$10.1 billion24.4617.5%20.3%-0.4%0.001.8%
CubeSmart CUBE$10.1 billion29.8114.0%40.8%3.3%1.434.7%
Camden Property Trust CPT$10.0 billion9.2824.6%n/a-1.0%0.934.2%
Janus Living, Inc. JAN$9.9 billionn/a0.2%n/an/a0.00n/a
CareTrust REIT, Inc. CTRE$9.8 billion24.046.8%54.6%43.6%0.393.9%
Federal Realty Investment Trust FRT$9.7 billion22.5313.6%47.7%7.8%1.504.0%
Affiliated Managers Group, Inc. AMG$9.4 billion12.5628.2%15.1%11.8%0.990.0%
Brixmor Property Group Inc. BRX$9.2 billion21.9114.1%n/a5.7%1.764.1%
Ryman Hospitality Properties, Inc. RHP$9.1 billion31.8920.2%19.6%12.9%3.403.6%
Agree Realty Corp. ADC$9.1 billion36.033.5%48.9%17.7%0.543.8%
Morningstar, Inc. MORN$9.1 billion21.3343.4%24.5%9.4%1.640.8%
Lineage, Inc. LINE$8.9 billionn/a-2.1%3.6%1.0%0.795.4%
Virtu Financial, Inc. VIRT$8.4 billion7.9231.1%32.4%26.1%2.381.8%
Rexford Industrial Realty, Inc. REXR$8.1 billionn/a-6.4%39.8%-2.0%0.394.6%
NNN REIT, Inc. NNN$8.0 billion19.598.7%62.9%7.3%1.105.9%
Alexandria Real Estate Equities, Inc. ARE$7.8 billionn/a-9.7%-85.8%-9.9%0.876.4%
Victory Capital Holdings, Inc. VCTR$7.4 billion21.9218.8%40.4%36.9%0.401.6%
InterDigital, Inc. IDCC$7.4 billion31.4625.2%45.1%-12.0%0.251.0%
First Industrial Realty Trust Inc. FR$7.1 billion19.9912.9%41.6%8.5%0.963.6%
Stag Industrial, Inc. STAG$7.1 billion25.967.4%37.7%9.3%0.944.2%
Macerich Co. MAC$7.1 billionn/a-3.6%-12.0%-1.3%1.902.7%
Vornado Realty Trust VNO$6.7 billionn/a0.2%n/a1.6%1.272.1%
Healthcare Realty Trust Inc. HR$6.5 billionn/a-1.1%n/a-5.8%1.045.0%
StoneX Group Inc. SNEX$6.5 billion9.3918.5%n/a48.7%6.97n/a
Rayonier Inc. RYN$6.4 billion37.143.0%12.0%24.1%0.354.9%
Essential Properties Realty Trust, Inc. EPRT$6.2 billion22.745.8%60.6%20.4%0.664.5%
Dolby Laboratories, Inc. DLB$6.1 billion27.598.8%17.7%0.6%0.002.2%
Marketaxess Holdings Inc. MKTX$5.8 billion20.2722.9%39.1%3.9%0.071.9%
StepStone Group Inc. STEP$5.7 billionn/an/a-58.2%48.5%n/a3.1%
SSR Mining Inc. SSRM$5.7 billion24.067.7%40.9%39.4%0.00n/a
Sabra Health Care REIT, Inc. SBRA$5.5 billion75.042.5%n/a23.4%0.865.7%
Outfront Media Inc. OUT$5.4 billion21.0936.6%20.7%9.1%3.594.0%
Galaxy Digital Inc. GLXY$5.3 billionn/a-18.5%-2.3%66.0%1.55n/a
Phillips Edison & Company, Inc. PECO$5.2 billion28.157.5%n/a7.0%1.055.6%
Rithm Capital Corp. RITM$5.2 billionn/an/an/an/a3.5010.8%
Kite Realty Group Trust KRG$5.0 billion15.7112.4%17.4%-7.3%1.024.6%
Hamilton Lane Inc. HLNE$5.0 billion13.2628.2%43.7%18.9%0.27n/a
BGC Group, Inc. BGC$5.0 billion25.5718.0%4.7%27.6%1.600.8%
HA Sustainable Infrastructure Capital, Inc. HASI$5.0 billion40.525.5%n/a22.6%2.364.4%
Cousins Properties Inc. CUZ$4.9 billion328.830.3%68.3%8.5%0.804.3%
Federated Hermes, Inc. FHI$4.7 billion11.5732.5%27.8%13.2%0.272.2%
Howard Hughes Holdings Inc. HHH$4.6 billion30.714.3%18.1%42.8%1.44n/a
Americold Realty Trust COLD$4.6 billion19.307.9%15.1%1.3%1.035.7%
EPR Properties EPR$4.6 billion16.8112.7%59.0%7.3%1.436.1%
Apple Hospitality REIT, Inc. APLE$4.5 billion23.905.9%18.3%3.2%0.475.1%
Tanger Inc. SKT$4.4 billionn/an/an/an/a2.44n/a
Piper Sandler Companies PIPR$4.4 billion15.5321.9%n/a21.1%n/a3.0%
Starwood Property Trust, Inc. STWD$4.4 billionn/a-4.0%-12.7%14.4%3.4015.9%
Lazard, Inc. LAZ$4.2 billion23.2219.5%8.1%9.2%1.785.2%
Kilroy Realty Corp. KRC$4.2 billion149.250.6%n/a-3.6%0.846.0%
Cohen & Steers, Inc. CNS$3.8 billion22.4627.8%32.4%8.6%0.003.6%
Copt Defense Properties CDP$3.7 billion22.2111.0%30.2%7.2%1.673.8%
PJT Partners Inc. PJT$3.7 billion21.2552.5%20.5%10.2%0.000.7%
LXP Industrial Trust LXP$3.6 billion31.545.9%n/a-3.5%0.664.5%
SL Green Realty Corp. SLG$3.6 billionn/a-3.7%61.7%9.7%1.255.2%
Independence Realty Trust, Inc. IRT$3.5 billion57.651.8%16.6%3.1%0.724.7%
Highwoods Properties, Inc. HIW$3.5 billion18.747.8%67.2%5.4%1.486.4%
Miami International Holdings, Inc. MIAX$3.4 billion12.7724.3%10.9%n/a0.00n/a
National Health Investors Inc. NHI$3.4 billion20.5910.6%n/a23.9%0.815.2%
Broadstone Net Lease, Inc. BNL$3.4 billion23.045.1%46.0%8.0%1.016.7%
Acadian Asset Management Inc. AAMI$3.2 billion26.66n/a25.5%27.9%n/a0.3%
Artisan Partners Asset Management Inc. APAM$3.2 billion9.1669.7%33.4%8.7%0.438.1%
WisdomTree, Inc. WT$2.9 billion27.4424.8%39.9%45.2%2.380.6%
DiamondRock Hospitality Co. DRH$2.9 billion17.7710.7%16.6%2.1%0.712.9%
Acadia Realty Trust AKR$2.7 billion70.732.0%53.3%-0.3%0.784.0%
Four Corners Property Trust, Inc. FCPT$2.6 billion21.497.3%n/a10.2%0.966.3%
CoreCivic, Inc. CXW$2.5 billion1.8563.5%9.9%26.9%0.28n/a
InvenTrust Properties Corp. IVT$2.5 billion85.221.6%-7.7%12.6%0.583.1%
LTC Properties Inc. LTC$2.5 billion4.7030.8%58.5%70.4%0.605.1%
Netstreit Corp. NTST$2.4 billion85.411.1%32.5%27.1%0.604.7%
Pebblebrook Hotel Trust PEB$2.4 billionn/a-2.9%3.1%2.8%0.890.2%
SmartStop Self Storage REIT, Inc. SMA$2.2 billion67.122.9%22.9%20.7%1.00n/a
RLJ Lodging Trust RLJ$1.9 billion121.901.7%10.0%4.1%1.034.8%
Douglas Emmett Inc. DEI$1.7 billionn/a-1.1%18.8%1.8%3.147.5%
Diversified Healthcare Trust DHC$1.7 billionn/a-9.9%-2.3%-3.8%1.600.6%
Global Net Lease, Inc. GNL$1.5 billionn/a-3.4%37.9%-21.8%1.7811.0%
CBL & Associates Properties Inc. CBL$1.5 billion6.8150.8%27.2%9.0%4.76n/a
American Assets Trust, Inc. AAT$1.3 billion61.541.9%23.6%1.1%1.526.3%
Alexanders Inc. ALX$1.3 billion6.7883.9%n/a8.2%3.677.1%
UMH Properties, Inc. UMH$1.3 billion298.400.5%n/a8.5%0.976.0%
Digital Turbine, Inc. APPS$1.3 billionn/a-18.3%10.3%19.2%1.85n/a
Medical Properties Trust Inc. MPT$1.1 billion4.405.4%3.7%10.5%2.0019.9%
Easterly Government Properties, Inc. DEA$1.1 billion77.521.1%23.9%11.4%1.288.0%
Ridgepost Capital, Inc. RPC$1.1 billion31.326.8%27.2%8.2%0.921.5%
Oppenheimer Holdings Inc. OPY$974 million12.238.7%7.2%13.9%n/a0.8%
Centerspace CSR$964 million10.7311.5%56.1%-6.0%1.025.4%
Orchid Island Capital, Inc. ORC$960 million98.60-0.5%95.7%74.8%9.2126.8%
Empire State Realty Trust, Inc. ESRT$918 million265.250.3%-4.4%2.0%2.142.6%
Abacus Global Management, Inc. ABX$852 million32.526.5%31.8%65.3%0.76n/a
Virtus Investment Partners, Inc. VRTS$846 million7.2812.7%15.7%-7.2%0.447.5%
CTO Realty Growth, Inc. CTO$783 million17.726.5%37.5%15.9%1.05n/a
Summit Hotel Properties, Inc. INN$755 millionn/a-2.5%9.9%2.4%1.654.6%
Safehold Inc. SAFE$749 million6.584.7%24.9%16.5%1.956.7%
Postal Realty Trust, Inc. PSTL$742 million38.904.7%38.2%22.3%0.944.4%
JBG Smith Properties JBGS$739 millionn/a-20.4%0.8%3.0%2.545.6%
Chatham Lodging Trust CLDT$722 million96.882.2%13.4%3.8%0.562.5%
Saul Centers, Inc. BFS$709 million31.0411.6%66.7%9.2%5.588.3%
PennyMac Mortgage Investment Trust PMT$685 million17.094.6%22.3%-11.5%1.7920.4%
Service Properties Trust SVC$674 million14.03-65.1%-6.1%-15.6%6.352.9%
Chimera Investment Corp. CIM$613 millionn/a-7.9%n/a12.4%4.0923.5%
Brandywine Realty Trust BDN$553 millionn/a-21.5%19.0%3.5%3.739.8%
Universal Health Realty Income Trust UHT$544 million26.9914.5%35.9%-0.0%2.847.6%
TPG RE Finance Trust, Inc. TRTX$512 million17.314.4%n/a-2.4%4.1014.2%
Franklin BSP Realty Trust, Inc. FBRT$470 millionn/a1.4%n/a16.4%2.9215.4%
One Liberty Properties Inc. OLP$446 million18.668.6%48.3%10.7%1.838.5%
BrightSpire Capital, Inc. BRSP$416 million23.862.2%27.0%2.5%2.9819.2%
NexPoint Residential Trust, Inc. NXRT$415 millionn/a-16.6%10.6%0.7%7.2413.0%
Industrial Logistics Properties Trust ILPT$397 millionn/a-14.9%33.7%3.5%9.854.2%
Farmland Partners Inc. FPI$369 million55.002.3%12.4%-5.6%0.5615.8%
Arbor Realty Trust Inc. ABR$299 millionn/a-4.2%n/a-12.9%4.4158.6%
Apollo Commercial Real Estate Finance, Inc. ARI$297 million2.9010.5%35.1%-14.7%n/a43.1%
Mesabi Trust MSB$226 million34.8836.9%n/a-87.6%0.00n/a
North European Oil Royalty Trust NRT$65 millionn/an/an/an/an/an/a
115 companies share its SEC industry code (Real Estate Investment Trusts); the rest are the names nearest in size in its wider industry, Trading, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on DLR

Dividends$1.73 billion paid in cash dividends in FY2025
Filings28 in twelve months: 21 current reports (8-K), about 12 other events; 9 regulation FD disclosure; 4 results of operations; 3 material agreement; 3 new financial obligation
Planned insider sales1 Form 144 notice in twelve months, $655,760; latest 1 December 2025
Options tapeput/call 1.27 by open interest at the 6 November 2026 close; the straddle prices a 4.2% move to 13 November 2026
13F holders1,334 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading2 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest7.8 million shares short, 4.38 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202630 October 2026EDGAR
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202513 February 2026EDGAR
10-Q30 September 202531 October 2025EDGAR
10-Q30 June 20251 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202425 February 2025EDGAR
10-Q30 September 20241 November 2024EDGAR
10-Q30 June 20242 August 2024EDGAR

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