Digital Realty demonstrated strong performance in Q1 2026, driven by accelerating data center demand and significant leasing activity, including record bookings and the largest hyperscale lease in company history. The company raised its full-year outlook, reflecting confidence in its growth trajectory and strategic positioning in key global markets.
Raised 2026 Core FFO per share outlook to $8.00 - $8.10 and 2026 Constant-Currency Core FFO per share outlook to $7.95 - $8.05.
positiveReported net income available to common stockholders of $0.46 per share, a significant increase from $0.27 in Q1 2025.
positiveFunds From Operations (FFO) per share increased to $1.99, up from $1.67 in Q1 2025.
positiveCore FFO per share increased to $2.04, up from $1.77 in Q1 2025.
positiveSigned total bookings expected to generate $707 million of annualized GAAP base rent at 100% share, with $423 million at Digital Realty's share.
positiveRental rates on renewal leases increased 5.0% on a cash basis and 6.3% on a GAAP basis.
positiveTotal operating revenues of $1.635 billion were flat compared to the previous quarter ($1.634 billion), indicating a deceleration in revenue growth.
attentionThe weighted-average lag between new leases signed and the contractual commencement date was nineteen months, indicating a long lead time for revenue realization.
attentionNet Debt-to-Adjusted EBITDA was 4.7x, indicating a significant leverage level.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Digital Realty saw a further acceleration in data center demand and our growth trajectory in the first quarter, with record 0–1 megawatt plus interconnection leasing and the largest hyperscale lease in company history, which contributed to double-digit growth in Core FFO per share.
We are swiftly advancing hyperscale AI-oriented capacity in the U.S., growing our connectivity-rich portfolio across key global markets, and broadening our capital base to prudently extend Digital Realty’s runway for growth.
The company signed total bookings during 1Q26 that are expected to generate $707 million of annualized GAAP base rent at 100% share.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.