Digital Realty Trust, Inc.

NYSE:DLR Stock Report

Market Cap: US$62.6b

Digital Realty Trust Valuation

Is DLR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DLR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DLR ($176.96) is trading below our estimate of fair value ($266.26)

Significantly Below Fair Value: DLR is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DLR?

Key metric: As DLR is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DLR. This is calculated by dividing DLR's market cap by their current earnings.
What is DLR's PE Ratio?
PE Ratio146.6x
EarningsUS$400.51m
Market CapUS$62.55b

Price to Earnings Ratio vs Peers

How does DLR's PE Ratio compare to its peers?

The above table shows the PE ratio for DLR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average48.2x
EQIX Equinix
84.6x15.1%US$92.7b
PSA Public Storage
30.9x6.5%US$55.0b
AMT American Tower
44.5x20.5%US$90.3b
CCI Crown Castle
32.9x6.3%US$41.2b
DLR Digital Realty Trust
146.6x19.9%US$62.6b

Price-To-Earnings vs Peers: DLR is expensive based on its Price-To-Earnings Ratio (146.6x) compared to the peer average (48.2x).

Price to Earnings Ratio vs Industry

How does DLR's PE Ratio compare vs other companies in the US Specialized REITs Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
SLVS Silver Star Properties REIT
0.4xn/aUS$25.91m
No more companies available in this PE range
DLR 146.6xIndustry Avg. 25.2xNo. of Companies4PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DLR is expensive based on its Price-To-Earnings Ratio (146.6x) compared to the US Specialized REITs industry average (25.2x).

Price to Earnings Ratio vs Fair Ratio

What is DLR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DLR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio146.6x
Fair PE Ratio46.9x

Price-To-Earnings vs Fair Ratio: DLR is expensive based on its Price-To-Earnings Ratio (146.6x) compared to the estimated Fair Price-To-Earnings Ratio (46.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DLR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$176.96
US$180.96
+2.3%
15.2%US$212.00US$114.00n/a23
Dec ’25US$195.69
US$179.22
-8.4%
14.7%US$212.00US$114.00n/a23
Nov ’25US$176.00
US$173.00
-1.7%
14.6%US$212.00US$114.00n/a22
Oct ’25US$160.27
US$158.50
-1.1%
13.0%US$188.00US$114.00n/a22
Sep ’25US$151.61
US$157.82
+4.1%
12.6%US$188.00US$114.00n/a22
Aug ’25US$152.29
US$156.91
+3.0%
12.9%US$188.00US$111.00n/a22
Jul ’25US$152.13
US$153.52
+0.9%
13.1%US$185.00US$111.00n/a21
Jun ’25US$145.34
US$149.40
+2.8%
12.2%US$175.00US$111.00n/a20
May ’25US$137.99
US$146.00
+5.8%
12.7%US$170.00US$108.00n/a20
Apr ’25US$141.91
US$144.60
+1.9%
13.5%US$170.00US$100.00n/a20
Mar ’25US$150.60
US$141.84
-5.8%
13.8%US$170.00US$100.00n/a19
Feb ’25US$143.85
US$135.55
-5.8%
12.9%US$170.00US$100.00n/a20
Jan ’25US$134.58
US$133.25
-1.0%
13.2%US$170.00US$97.00n/a20
Dec ’24US$138.61
US$128.70
-7.1%
11.8%US$145.00US$97.00US$195.6920
Nov ’24US$126.47
US$128.32
+1.5%
11.6%US$144.00US$94.00US$176.0019
Oct ’24US$121.02
US$126.83
+4.8%
12.0%US$144.00US$94.00US$160.2718
Sep ’24US$132.11
US$125.83
-4.8%
11.5%US$144.00US$94.00US$151.6118
Aug ’24US$123.39
US$122.22
-0.9%
11.6%US$144.00US$94.00US$152.2918
Jul ’24US$113.87
US$119.89
+5.3%
16.9%US$175.00US$80.00US$152.1318
Jun ’24US$104.78
US$119.39
+13.9%
17.3%US$175.00US$80.00US$145.3418
May ’24US$96.93
US$118.70
+22.5%
18.3%US$175.00US$80.00US$137.9920
Apr ’24US$98.31
US$121.35
+23.4%
17.5%US$175.00US$80.00US$141.9120
Mar ’24US$100.83
US$122.40
+21.4%
16.9%US$175.00US$80.00US$150.6020
Feb ’24US$116.15
US$123.67
+6.5%
17.4%US$175.00US$81.00US$143.8521
Jan ’24US$100.27
US$125.57
+25.2%
16.2%US$175.00US$81.00US$134.5821
Dec ’23US$111.70
US$125.80
+12.6%
16.0%US$175.00US$88.00US$138.6120

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 23:35
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Digital Realty Trust, Inc. is covered by 59 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacob KilsteinArgus Research Company
null nullArgus Research Company
James RatcliffeBarclays