Digital Realty Trust

DLR · NYSE

$175.31+$2.31 (+1.34%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $173.00

DLR analyst rating

BuyConsensus of 25 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy22
Hold3
Underperform0
Sell0

12-month price target · 34 analysts

Average $227.43 (+29.7% upside)

Low: $198.97
Now: $175.31
High: $262.50

Upgrades and downgrades

The latest rating actions, newest first

DLR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Rothschild & Co	Sep 21, 2026	Initiates	Buy	$227.00	62%
BTIG	Sep 10, 2026	Maintains	Buy	$215.00 → $220.00	28%
Evercore ISI Group	Aug 18, 2026	Maintains	Outperform	$230.00 → $240.00	40%
HSBC	Aug 14, 2026	Upgrade	Hold → Buy	$210.00 → $240.00	40%
Argus Research	Aug 5, 2026	Upgrade	Hold → Buy	$212.00	47%
Truist Securities	Jul 30, 2026	Maintains	Buy	$225.00 → $220.00	58%
Cantor Fitzgerald	Jul 29, 2026	Maintains	Overweight	$211.00 → $221.00	40%
RBC Capital	Jul 27, 2026	Maintains	Outperform	$207.00 → $227.00	39%
JP Morgan	Jul 24, 2026	Maintains	Overweight	$230.00 → $235.00	50%
TD Cowen	Jul 24, 2026	Upgrade	Hold → Buy	$192.00 → $222.00	41%

The case for and against

Updated Oct 18, 2026

Bull case

Digital Realty Trust is viewed favorably because record demand across hyperscale and colo, combined with scarce supply in hard-to-build markets, supports durable pricing power and longer, higher-quality leases. Its 2Q26 results showed revenue of $1.924B, EBITDA of about $0.978B, and Core-FFO/share of $2.65, all above expectations, while 2026 guidance was raised and leverage stayed at a multi-year low of 4.7x. The company’s $1.8B backlog, 63% pre-leased pipeline, and acquisitions in Kansas City, Teraco, Columbia Capital, and NoVa further strengthen growth visibility, with management expecting multiple years of double-digit Core-FFO/share growth.

Bear case

Digital Realty Trust is viewed negatively because its revenue base is heavily exposed to physical space leasing, while its top 20 customers contribute just over half of the business, leaving earnings vulnerable to customer loss or weaker hyperscale and enterprise capex tied to AI and cloud infrastructure. The company also faces intense global competition, power supply and pricing risks, and meaningful cybersecurity and regulatory exposure, any of which could pressure occupancy, rental rates, and profitability across its 300 properties in 57 metropolitan areas and 31 countries. On top of that, the stock is particularly sensitive to interest-rate moves, and dilutive acquisitions, dividend cuts, or underperforming assets could further weigh on valuation.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.