DLR DIGITAL REALTY TRUST, INC.
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Executive Summary
Digital Realty reported strong first-quarter 2026 results with Core FFO per share of $2.04, a 15% year-over-year increase, driven by record leasing activity and a 16% revenue growth. The company raised its full-year 2026 Core FFO guidance to $8.00–$8.10, citing robust demand for data center capacity, particularly in AI and hyperscale workloads.
Key Financial Metrics
Actionable Insight
The significant beat on Core FFO and raised guidance, fueled by strong leasing and AI-driven demand, suggest continued momentum. Monitor the high backlog of $1.0 billion at Digital Realty's share for future revenue visibility and the impact of new land acquisitions on development pipeline yields.
Key Facts
- Core FFO per share was $2.04, up 15% YoY and above the prior guidance range of $7.90–$8.00.
- Total revenue was $1.635 billion, a 16% increase from the same quarter last year.
- Signed $423 million in bookings at Digital Realty's share, including a record $98 million from the 0-1 MW plus interconnection category.
- Raised 2026 Core FFO per share outlook to $8.00–$8.10 and Constant-Currency Core FFO to $7.95–$8.05.
- Net debt-to-Adjusted EBITDA improved to 4.7x from 4.9x in the prior quarter.
Financial Impact
Core FFO per share of $2.04 represents a $0.27 increase year-over-year and is above the previous full-year guidance midpoint of $7.95. The company raised its full-year guidance by $0.10 at the midpoint.
Risk Factors
- Increased capital expenditures for development and land acquisitions could pressure free cash flow.
- Geopolitical risks in international markets and potential supply chain disruptions for data center construction.
Market Snapshot
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-047702 |
| Document: dlr-20260423xex99d2.htm | 0001104659-26-047702 |
| Document: dlr-20260423x8k.htm | 0001104659-26-047702 |
| Document: 0001104659-26-047702-index-headers.html | 0001104659-26-047702 |
| Document: 0001104659-26-047702-index.html | 0001104659-26-047702 |
| Document: 0001104659-26-047702.txt | 0001104659-26-047702 |
| 8-K Data (Synthetic) | 0001104659-26-047702 |
Track record builds as more directional reports settle.
Filters
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May 4, 2026
6w ago
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424B5
| $20.52 $20.66 | ▲ +0.68% | ▼ −4.96% | $190.45 (+828.12%) |
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Apr 23, 2026
7w ago
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8-K
| $20.10 $20.06 | ▼ −0.20% | ▼ −4.22% | $190.45 (+847.51%) |
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Apr 23, 2026
7w ago
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Press Release
| $199.69 $194.27 | ▼ −2.72% | ▼ −6.74% | $190.45 (−4.63%) |
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Apr 17, 2026
8w ago
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DEFA14A
| $20.00 $20.06 | ▲ +0.30% | ▼ −3.90% | $190.45 (+852.25%) |
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Mar 4, 2026
14w ago
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Press Release
| $182.59 $180.34 | ▼ −1.23% | ▲ +3.18% | $190.45 (+4.30%) |
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