Analyst Consensus ?
ConsensusHold32 ratings
Bullish1650.0%
Neutral1443.8%
Bearish26.2%
1 unmapped firm rating excluded from the percentages.
Digital Realty Trust, Inc. · DLR-PJ · FY2026 Q1 · Calendar Q2 2026
Digital Realty raises 2026 outlook as AI backlog expands
The quarter strengthens the case that AI inference, hyperscale demand and interconnection are supporting Digital Realty's growth trajectory. The main counterweights are execution complexity, power availability, rising build costs and uncertainty around AI lease economics.
Reported After market closeNYSEReal Estate
$50.77B market cap
85quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.46
Consensus $0.44
EPS surprise
+4.2%
Reported versus consensus
Reported revenue
$1.64B
Consensus $1.60B
Revenue surprise
+2.1%
Reported versus consensus
Market reaction
unavailable
Stock move
—
Event window
SPY move
—
Same window
Abnormal move
—
Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
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Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about DLR-PJ FY2026 Q1
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How did the market react to DLR-PJ FY2026 Q1 earnings, and why?What changed in DLR-PJ's guidance and outlook in FY2026 Q1?Give me the bull and bear case for DLR-PJ after FY2026 Q1 earnings.
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Transcript intelligence
What changed
Management reported record-strength first-quarter execution, raised 2026 Core FFO guidance, and described a materially larger development pipeline. The quarter also added a 200 MW AI inference lease and continued geographic and private-capital expansion.
Guidance delta
Management raised 2026 Core FFO guidance to $8.00-$8.10 per share, implying 9% growth.
Key takeaways
- Record bookings and a $1.8 billion backlog provide visibility through 2028.
- The development pipeline grew to $16.5 billion, representing 6 GW of capacity, with 61% pre-leased.
- A 200 MW AI inference lease in Charlotte was the company's largest lease to date.
Management priorities
- Build hyperscale capacity in Charlotte, Atlanta and other listed markets.
- Expand private-capital fundraising and the hyperscale joint-venture platform.
- Continue global connectivity, interconnection and land-bank expansion.
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Try FN2 freeEarnings History
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Buy | Buy | Maintain | Sep 19, 2023 |
| Deutsche Bank | Hold | Buy | Downgrade | Aug 24, 2023 |
| Citigroup | Buy | Buy | Maintain | Aug 21, 2023 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 6, 2023 |
| Barclays | Underweight | Underweight | Maintain | Aug 1, 2023 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jul 27, 2023 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Jul 27, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 25, 2023 |
| Jefferies | Buy | Buy | Maintain | May 29, 2023 |
| Credit Suisse | Underperform | Underperform | Maintain | Apr 30, 2023 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Apr 20, 2023 |
| BMO Capital | Market Perform | Outperform | Downgrade | Mar 26, 2023 |
| Mizuho | Buy | Buy | Maintain | Mar 11, 2021 |
| TD Securities | Buy | Hold | Upgrade | Dec 17, 2020 |
| Keybanc | Overweight | Downgrade | Dec 13, 2020 | |
| Berenberg | Buy | Hold | Upgrade | Aug 24, 2020 |
| UBS | Neutral | Neutral | Maintain | Jul 30, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 7, 2020 |
| Baird | Neutral | Outperform | Downgrade | Apr 12, 2020 |
| Argus Research | Buy | Buy | Maintain | Apr 2, 2020 |
| William Blair | Outperform | Market Perform | Upgrade | Oct 29, 2019 |
| Guggenheim | Neutral | Buy | Downgrade | Sep 10, 2019 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Jul 22, 2019 |
| Stifel | Buy | Buy | Maintain | Jul 26, 2018 |
| B of A Securities | Buy | Buy | Maintain | Sep 27, 2016 |
| Macquarie | Neutral | Neutral | Maintain | Jul 14, 2015 |
| Cantor Fitzgerald | Hold | Sell | Upgrade | Jun 15, 2015 |
| Canaccord Genuity | Buy | Hold | Upgrade | Jun 11, 2015 |
| MLV & Co. | Hold | Buy | Downgrade | May 20, 2014 |
| Evercore ISI Group | Equal Weight | Overweight | Downgrade | Oct 29, 2013 |
| McNicoll Lewis Vlak | Buy | Buy | Maintain | Jul 28, 2013 |
| ISI Group | Neutral | Buy | Downgrade | Apr 28, 2013 |
| Collins Stewart | Neutral | Neutral | Maintain | Feb 20, 2012 |
Track every rating change on DLR-PJ the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationDigital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITALR, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture PDxTM solution methodology for scaling digital business and efficiently managing data gravity challenges. Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with more than 284 facilities in 48 metros across 23 countries on six continents.
Historical context
All DLR-PJ earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| GLPI Gaming and Leisure Properties, Inc. | FY2026 Q3 · Calendar Q4 2026 | -11.5% | -1.3% | GLPI Keeps Guidance, Advances Development Despite Bally’s Risks |
| FRT Federal Realty Investment Trust | FY2026 Q3 · Calendar Q4 2026 | +3.9% | -1.1% | Federal Realty raises 2026 FFO outlook as leasing stays strong |
| WY Weyerhaeuser Company | FY2026 Q3 · Calendar Q4 2026 | +128.3% | +3.0% | Weyerhaeuser: Timberlands Strengthen as Growth Projects Advance |
| DLR-PL Digital Realty Trust, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.4% | — | Digital Realty raises guidance as AI demand lifts leasing and backlog |
| DLR-PK Digital Realty Trust, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.4% | — | Digital Realty Q3: Record Leasing and Higher FFO Guidance |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the DLR-PJ recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.