Digital Realty Trust, Inc. (DLR) Earnings Call Transcripts

Digital Realty Trust, Inc.'s Latest Earnings Call - Q3 FY2026

In the third quarter of 2026, Digital Realty Trust, Inc. (DLR) reported strong financial results, highlighted by a record total leasing of $855 million and an 11% increase in core FFO per share to $2.10. The company raised its full-year guidance for FFO per share to a range of $8.30 to $8.35, reflecting nearly 13% growth over the previous year. Management emphasized robust demand driven by AI and digital transformation, which supports their long-term growth outlook.

Reported metrics

Guidance from management

Management raised its 2026 core FFO per share guidance to a range of $8.30 to $8.35, reflecting nearly 13% growth over 2025. They also expect cash renewal spreads of 10% to 12%, up 100 basis points from last quarter.

What management said

And just 1 other thing. You asked about who's selling this land, mean these are great stories where we worked with, call it, local real estate developers specifically Kansas City, Atlanta, taking sites that were industrialized, those 2 in particular or former call it Army use cases years and years ago and really were able to revitalize community with a great investment that's going to benefit all the broader communit...

Yes. AI hubs, I mean, it's hopefully saw -- I mean, the fact that we're kept global recent scale has given us an ability to access a diverse set of capital sources bolt-on as recently on the debt side. Hopefully, you saw we raised basically $1.7 billion at an average rate of close to 4%, both through the euro and Swiss market. On top of that, given the expansion in our, call it, our private capital strategy, as was n...

What analysts pressed on

Analysts expressed concerns regarding the competitive landscape and the impact of rising costs of capital on future growth. There were questions about how Digital Realty plans to manage development costs amidst industry-wide inflation and potential delays in project timelines.

Main topics on the call

• Record Leasing Activity — Digital Realty achieved record total leasing of $855 million, with $689 million in the greater than 1 megawatt category, driven by strong demand across geographies and customer segments. Management stated, "Signings in t...
• Increased Guidance — The company raised its full-year guidance for core FFO per share by nearly 2% to a new range of $8.30 to $8.35. This adjustment reflects management's confidence in achieving nearly 13% bottom line growth, as noted, "We a...
• Strong Backlog — Digital Realty's backlog reached a new record of $2.5 billion, providing strong visibility into future revenue. Management highlighted, "These bookings pushed our total backlog to a new record of $2.5 billion or $1.8 bil...
• AI Demand Driving Growth — The demand for AI infrastructure is significantly impacting Digital Realty's growth, with management stating that AI is driving unprecedented demand for capacity. They noted, "We continue to see the benefits of artificia...

Read the full Digital Realty Trust, Inc. transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 83 Digital Realty Trust, Inc. earnings call transcripts on record, spanning January 7, 2020 to October 29, 2026. Based on this history, Digital Realty Trust, Inc. reports quarterly. The most recent call on file is dated October 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DLR

Exchange

NYSE

Country

US

Sector

Real Estate

Industry

Specialized REITs

Calls on record

83

First call

January 7, 2020

Most recent

October 29, 2026

Reporting cadence

quarterly