Digital Realty Q4 revenue rises

Overview

• Data center provider's Q4 2025 revenue rose 14% yr/yr

• Reported Core FFO per share for Q4 2025 was $1.86, up from $1.73 last year

• Company introduced 2026 Core FFO per share outlook of $7.90 - $8.00

Outlook

• Digital Realty projects 2026 Core FFO per share of $7.90 - $8.00

• Company expects 2026 revenue between $6.6 bln and $6.7 bln

• Digital Realty anticipates rental rates on renewal leases to rise 6.0% - 8.0% cash basis

Result Drivers

• LEASING ACTIVITY - Digital Realty signed total bookings expected to generate $400 mln of annualized GAAP rental revenue, with $175 mln at Digital Realty's share, including a $96 mln contribution from 0-1 megawatt plus interconnection category

• RENTAL RATE INCREASES - Rental rates on renewal leases increased 6.1% on a cash basis and 12.0% on a GAAP basis in 4Q25

• BACKLOG SUPPORT - Reported a backlog of $817 mln of annualized GAAP base rent at Digital Realty’s share, providing revenue visibility into 2026

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for Digital Realty Trust Inc is $195.00, about 16.9% above its February 4 closing price of $166.79

• The stock recently traded at 101 times the next 12-month earnings vs. a P/E of 84 three months ago

Press Release: ID:nGNX95FXHm

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