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Data center operator Digital Realty Trust's Q3 revenue rises 21%, core FFO up; lifts 2026 outlook

By Reuters News


Overview

  • Data center operator's Q3 revenue rose 21% yr/yr

  • Core FFO per share increased to $2.10 from $1.89 a year earlier

  • Company raised 2026 Core FFO per share outlook


Outlook

  • Digital Realty raises 2026 Core FFO per share outlook to $8.30-$8.35

  • Company expects 2026 total revenue of $7.05-$7.13 bln, excluding promote income

  • Digital Realty forecasts 2026 adjusted EBITDA of $3.8-$3.85 bln


Result Drivers

  • RECORD LEASING - Co reported record leasing activity in Q3, driving future rental revenue

  • RENTAL RATE INCREASES - Co achieved 11.8% cash rental rate increases on renewal leases in Q3

  • EXPANDED BACKLOG - Co ended Q3 with a record backlog of signed-but-not-commenced leases


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 FFO Per Share

$1.97


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 31 "strong buy" or "buy", 5 "hold" and no "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 $224.00, about 24.6% above its October 28 closing price of $179.77

  • The stock recently traded at 67 times the next 12-month earnings vs. a P/E of 76 three months ago


Reuters Recommended Reads

  • Oct 27 - American Tower beats Q3 estimates on data center strength, raises FY outlook

  • Oct 28 - TPG pursues $5 billion acquisition of British data centre group Ark, FT reports

  • Oct 29 - Wall Street's AI bet: Own the infrastructure, collect the rent


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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