Digital Realty Trust Stock Earnings Reports

Digital Realty reported a very strong start to 2026 driven by broad-based leasing momentum across its product set. Key operating highlights: record-like bookings with $707 million of annualized rent signed ( $423 million at Digital's share), including the largest lease in company history (200 MW AI inference with an AA-rated hyperscaler in Charlotte); a record backlog of $1.8 billion ($1.0 billion at DLR share) providing visibility into 2027–2028; the development pipeline grew >60% to $16.5 billion (1.2 GW under construction, ~61% pre-leased) with attractive expected yields (~11.4% unlevered); strong performance in the 0–1 MW + interconnection product (quarterly record $98M, 21% of that AI-oriented) and continued expansion of connectivity footprint (new market entries: Sofia, Milan land, Cyberjaya); Core FFO of $2.04/share (up ~15% YoY) and guidance raised — 2026 Core FFO now $8.00–$8.10/share (midpoint ~9% growth vs. 2025); balance sheet strength with leverage down to a multiyear low (debt/adjusted EBITDA ~4.7x) and substantial private capital / JV dry powder to fund hyperscale development. Management notes that supply-side constraints (power, labor, supply chain, community issues) are tightening deployable capacity, reinforcing Digital Realty’s advantaged position as a global, connectivity-rich platform able to deliver scale and certainty for AI and cloud workloads.